TheÂ Federal Deposit Insurance Corp.,Â Office of the Comptroller of the Currency andÂ Federal Reserve BoardÂ want public comments on the three bank regulators’ joint plan to establish a set of cyber risk management standards for the financial services industry.
The regulatory agenciesÂ also seekÂ potential methodsÂ to quantify and compare cyber risks at financial institutions, FDIC said Wednesday.
Responses to the advance notice of proposed rulemakingÂ are due Jan. 17, 2017.
TheÂ Federal Reserve, FDIC and OCC are considering whether to applyÂ enhanced cyber risk management standards to depository institutions and foreign banks’ U.S. business unitsÂ that own atÂ leastÂ $50 billion in assets as well asÂ to financial market infrastructure operatorsÂ and nonbank financial regulations supervised by the Fed, according to the notice.
The regulators alsoÂ look to requireÂ companies to substantially addressÂ disruption or failureÂ risks associated with a cyber incident, FDIC added.