Federal Banking Agencies Propose “Enhanced Cyber Risk Management Standards” For the Largest Banks

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Image Source: Article

In a major new cybersecurity initiative the federal banking agencies have issued an advanced notice of proposed rulemaking (“APNR”) seeking comment on enhanced cybersecurity standards for banking entities with $50 billion or more in total assets. The standards will apply to U.S. bank and savings and loan holding companies and their subsidiary institutions as well as to foreign bank holding companies with $50 billion or more in U.S. assets.

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