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FFIEC Replaces, and Expands, the Operations Handbook
Back in June of this year the FFIEC released an update to the 2004 Operations Handbook called Architecture, Infrastructure, and Operations (AIO). As the lengthier name implies, this was not simply an update, it also greatly expanded the scope of operations to include architecture and infrastructure principles and practices. This reflects the tight integration between…
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Compliance Quick Bites – Tests vs. Exercises, and the Resiliency Factor
One of several changes implemented in the 2019 FFIEC BCM Examination Handbook is a subtle but important differentiation between a BCMP “test” and an “exercise”. I discussed some of the more material changes here, but we’re starting to see examiner scrutiny into not just if, but exactly what and how you’re testing. According to the…
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Reading Between the Lines: The Interagency Examiner Guidance for Assessing Safety and Soundness During COVID-19
On June 23, 2020, the FDIC posted “The Interagency Examiner Guidance for Assessing Safety and Soundness Considering the Effect of the COVID-19 Pandemic on Institutions.” FIL-64-2020 This statement this is only one of several interagency statements issued since the start of the Covid-19 Pandemic outlining supervisory principles examiners will use to guide their safety and…
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Reading Between the Lines: Recent Regulatory News
March 30, 2020 – Federal Reserve Statement on Supervisory Activities Where did it come from, and where can I find it? The Federal Reserve Who needs to know about it? All financial institutions supervised by the Federal Reserve Why was it Issued? To address adjustments in their supervisory approach in light of COVID-19 What does…
