U.S. banking regulators this week unveiled a proposal to enhance cybersecurity risk-management and resilience standards for the largest banks and their interconnected entities.
The proposed joint standards by the Federal Reserve Board, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency would apply to depository institutions and depository institution holding companies with assets of $50 billion or more, U.S. operations of foreign banking organizations with U.S. assets of $50 billion or more, and financial market infrastructure companies and nonbank financial companies supervised by the Federal Reserve.
The enhanced standards would not apply to community banks. Comments are due Jan. 17, 2017.
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Melanie Waddell
Melanie is senior editor and Washington bureau chief of ThinkAdvisor. Her ThinkAdvisor coverage zeros in on how politics, policy, legislation and regulations affect the investment advisory space. Melanie’s coverage has been cited in various lawmakers’ reports, letters and bills, and in the Labor Department’s fiduciary rule in 2024. In 2019, Melanie received an Honorable Mention, Range of Work by a Single Author award from @Folio. Melanie joined Investment Advisor magazine as New York bureau chief in 2000. She has been a columnist since 2002. She started her career in Washington in 1994, covering financial issues at American Banker. Since 1997, Melanie has been covering investment-related issues, holding senior editorial positions at American Banker publications in both Washington and New York. Briefly, she was content chief for Internet Capital Group’s EFinancialWorld in New York and wrote freelance articles for Institutional Investor. Melanie holds a bachelor’s degree in English from Towson University. She interned at The Baltimore Sun and its suburban edition.
