The Federal Financial Institutions Examination Council (FFIEC) recently upgraded the functions and features of the InfoBase for the FFIEC Information Technology Examination Handbook (IT Handbook). The FFIEC is a formal interagency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions by the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau, and to make recommendations to promote uniformity in the supervision of financial institutions. In 2006, the State Liaison Committee (SLC) was added to the FFIEC as a voting member. The SLC includes representatives from the Conference of State Bank Supervisors, the American Council of State Savings Supervisors, and the National Association of State Credit Union Supervisors.
The IT Handbook consists of 11 booklets covering a variety of technology and technology-related risk management guidance for financial institutions and examiners.
The new architecture provides the FFIEC member agencies with new capabilities, including the ability to make updates on a more frequent basis. This new architecture will enable the agencies to respond to changes in technology and the risk environment on an as-needed basis rather than waiting for the next revision of a particular booklet or booklets. Included in the recent upgrade is a "What's New" function on the InfoBase home page that may be used to monitor recent changes and, going forward, to access a historical listing of all changes. As a result of this new dynamic environment, the individual booklets will no longer be available in hard copy. In addition to reducing costs and saving resources, users will now have the ability to select the materials they wish to print--from a single page to the entire booklet.
To read the IT Handbook, click here.