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Bank regulators set enhanced security steps for sensitive exam data

Agencies said they will notify affected banks of any potential or confirmed material data breach involving confidential supervisory information within 72 hours of discovery.

Reported · Written up by our desk · Central Banks

Federal bank regulatory agencies issued a joint statement describing enhanced security procedures for reviewing highly sensitive information during examinations of supervised banks.

The agencies said they will use a coordinated approach to identify highly sensitive data and documents, including reviewing materials on site rather than transferring them onto agency systems.

They said the steps are intended to reduce cybersecurity risks while ensuring regulators retain access to such information during an examination.

The agencies also committed to notify affected banks of any potential or confirmed material data breach involving confidential supervisory information as soon as practicable, no later than 72 hours after discovery, unless legal restrictions apply.

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