The Federal Deposit Insurance Corporation’s Oct. 19 board meeting marked the opening of a 90-day comment period regarding an Advanced Notice of Proposed Rulemaking memorandum calling for the largest, most interconnected financial institutions in the U.S. to develop “enhanced cyberrisk management standards” intended to reduce their susceptibility to cyberattacks.
There are five categories of standards proposed: cyberrisk governance, cyberrisk management, internal dependency management, external dependency management and incident response cyberresilience and situational awareness. Read on to find out more about these standards proposed.