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

The Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency (OCC) issued a joint statement outlining a coordinated approach for handling highly sensitive information during bank examinations. The statement details enhanced security procedures, such as on-site review of materials, to reduce cybersecurity risks while ensuring agencies maintain access to information. The agencies also committed to notifying affected banks of any material data breach involving confidential supervisory information within 72 hours of discovery.