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The Federal Financial Institutions Examination Council put out a cybersecurity assessment tool designed to help financial institutions identify cybersecurity risks and judge preparedness.

The assessment tool and other FFIEC resources allow institutions to do self-assessments to help them improve their risk management strategies. FFIEC members will update the assessment tool as new threats and vulnerabilities emerge.

Other resources released by the agency include a user's guide and an online presentation explaining the tool.

In March, the agency listed the tool as one of its cybersecurity priorities for the year.

The FFIEC includes representatives from the Federal Reserve Board, FDIC, NCUA, the Office of the Comptroller of the Currency, CFPB and the State Liaison Committee.

NAFCU staff are analyzing the proposal for its potential impact on credit unions and will release a Regulatory Alert to members on the issue.