Hey Guru!
Management is asking why we have to complete the FFIEC Cybersecurity Assessment Tool
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Ask the Guru: “The Cybersecurity Assessment Tool… Do we have to?”
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FDIC Re-issues Service Provider Guidance
Originally released in 2001, the FDIC recently re-issued 3 publications related to managing outsourced relationships:
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Ask the Guru: Vendor vs. Service Provider
Hey Guru
I recently had an FDIC examiner tell me that we needed to make
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Material Loss Reviews: Does responsibility = liability?
I asked in my previous post whether or not the regulators should share any of
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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
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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 as well, and applies to ANY threat to the DIF, not just under-capitalization (i.e. any safety and soundness concerns)...