FFIEC Releases Revised Technology-Related Guidance

WASHINGTON-The Federal Financial Institutions Examination Council released its revised Information Technology Examination Handbook, NCUA Chairman Dennis Dollar announced in a Letter to Credit Unions (03-CU-07) recently. Earlier this year, FFIEC released a new Information Systems Examination Handbook revised from the 1996 edition. The current IT handbook is just as old and will be revised into several booklets to address advancing technology and employs a risk-based examination approach. Additional booklets will be issued addressing topics such as business continuity planning, technology service providers, electronic banking, audit, payment systems, outsourcing, management, computer operations, and systems development and acquisition. The booklets are available on the Internet through FFIEC’s InfoBase application either online (http://www.ncua.gov/ref/IST/ or http://www.ffiec.gov/ffiecinfobase/index.html) including links to other resource materials or as a PDF file, but NCUA will not distribute print copies