State Bank Regulators Guide On Cyber Exams Of Nonbanks

By Al Barbarino (August 9, 2022, 6:38 PM EDT) — The Conference of State Bank Supervisors on Tuesday published two of the blueprints that state examiners use to assess the “cyber preparedness” of nonbank entities, part of what the organization said was a broader effort to protect the nation’s critical infrastructure. 

The Baseline Nonbank Cybersecurity Exam Program and the Enhanced Nonbank Cybersecurity Exam Program include dozens of questions that state examiners ask themselves when assessing institutions’ cyber programs, mapped out across the four areas: audit, management, development and acquisition, and support and delivery.

“Supervisory clarity is essential to increasing industry awareness and making our financial system more resilient to cyberattacks,” said Chuck Cross, the…

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