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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Financial Institution Letters

FIL-63-2018
October 19, 2018

Cybersecurity Preparedness Resource

Printable Format:

FIL-63-2018 - PDF (PDF Help)

Summary:

As part of the FDIC's Community Banking Initiative, the agency is adding to its cybersecurity awareness resources for financial institutions. This includes two new vignettes for the Cyber Challenge, which consists of exercises that are intended to encourage discussions of operational risk issues and the potential impact of information technology disruptions on common banking functions.

Statement of Applicability to Institutions under $1 Billion in Total Assets: This Financial Institution Letter is applicable to all FDIC-supervised insured depository institutions.

Highlights:

Community financial institutions may be exposed to operational risks through internal or external events ranging from cyber attacks to natural disasters. Operational risks can threaten an institution's ability to conduct basic business operations, impact its customer service, and tarnish its reputation. To help community financial institutions assess and prepare for these risks the FDIC is expanding its Cyber Challenge exercise offering at www.fdic.gov/regulations/resources/director/technical/cyber/purpose.html.

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Note:

FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's website at www.fdic.gov/news/news/financial/2018/.

To receive FILs electronically, please visit www.fdic.gov/about/subscriptions/fil.html.

Paper copies may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E 1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200).

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