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Bank regulators issue enhanced procedures for sensitive exam data handling

The agencies said affected banks will be notified of potential or confirmed material data breaches involving confidential supervisory information no later than 72 hours after discovery.

Reported · Written up by our desk · Central Banks

The federal bank regulatory agencies have issued a joint statement outlining enhanced security procedures for handling highly sensitive information during bank examinations, including reviewing materials on site rather than transferring them to agency systems.

The statement describes a coordinated approach to identifying highly sensitive data and documents, and sets enhanced review procedures aimed at reducing cybersecurity risks while ensuring regulators can access the information at all times during an examination.

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

The statement also emphasized the importance of keeping banks’ highly sensitive information confidential and protected from disclosure to or access by unauthorized persons stemming from cybersecurity vulnerabilities.

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