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State regulators adopting FDIC pre-exam questionnaire… (Update)
…at least in Georgia. The most recent Georgia State IT examinations are using a carbon copy of the FDIC 12/07 pre-examination IT questionnaire. If your primary federal regulator is the FDIC, this makes filling out the State questionnaire much easier. If not however, you’ll want to familiarize yourself with the format. There are 5 parts…
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FDIC can now step in regardless of primary regulator (part 2)
Further to the previous post, the memorandum requires the FDIC opinion to prevail in the event that an institutions’ PFR (primary federal regulator) CAMELS rating differs from the FDIC: If the FDIC’s CAMELS ratings for an institution differ from a PFR’s assigned ratings, the FDIC is required to provide the PFR with an explanation of…
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FDIC can now step in regardless of primary regulator (part 1)
According to a memorandum of understanding just signed by all the primary federal regulators (FDIC, OTS, OCC and Fed), the FDIC now has the authority to step in whenever they feel the DIF (deposit insurance fund) is in jeopardy. Although this is primarily targeted at larger (>$10b) institutions, it also applies to smaller (<$10b) institutions…
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DR/BCP Scrutiny – UPDATED
Auditors (and some FDIC examiners) are scrutinizing disaster recovery plans more closely, specifically looking to verify that the plan structure adheres to FFIEC guidance. We’ve definitely seen this…
