June 24, 2014

FFIEC launches cybersecurity web page, pilot program

June 25, 2014 – The Federal Financial Institutions Examination Council on Tuesday launched a webpage on cybersecurity and announced that regulators are beginning a pilot program at more than 500 community institutions focusing on how the institutions manage cyber risks.

In its announcement, FFIEC said the pilot program is being conducted by state and federal regulators "during regularly scheduled examinations."

Information collected during this pilot program "will assist regulators in assessing how community financial institutions manage cybersecurity and their preparedness to mitigate increasing cyber risks," the council said. The council stated that this program is also designed to help the regulators as they make decisions to "enhance the effectiveness of supervisory programs, guidance, and examiner training."

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