Federal Bank Regulatory Agencies Issue Joint Statement on Handling Highly Sensitive Information During Bank Examinations

The federal bank regulatory agencies, including the Federal Reserve, have issued a joint statement outlining enhanced security procedures for reviewing highly sensitive information during bank examinations. These procedures include reviewing materials on-site rather than transferring them to agency systems to reduce cybersecurity risks. The agencies also committed to notifying affected banks of any potential or confirmed material data breach involving confidential supervisory information within 72 hours of discovery.