The Federal Financial Institutions Examination Council (the AFFIE) announced on June 24, 2014, that it has launched a web page on cybersecurity. The Web Page is intended to serve as a central repository for current and future FFIEC guidance and related materials concerning cybersecurity. The FFIEC also announced that its member federal and state regulators are co mmencing a pilot program to assess how 500 community financial institutions manage cybersecurity and how those institutions are preparing to mitigate the damage caused by cyber attacks. The FFIEC stated that the exams will be focused on "'risk manage ment and oversight, threat intelligence and collaboration , cybersecurity controls , service provider and vendor risk management , and cyber incident management and resilience." The pilot examinations will be conducted by regulatory agencies during regularly scheduled examinations.
The FFIEC is a for mal interagency body empowered to prescribe uniform principles, standards, and report for ms for the federal examination of financial institutions by the FRB, the FDIC, the NCUA, the OCC, and the Consumer Financial Protection Bureau and to make reco mmendations to promote uniformity in the supe rvision of financial institutions.