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US OCC devising cyber operational-resilience standards for key bank operations

By Neil Roland ( October 25, 2024, 21:45 GMT | Insight) -- The US Office of the Comptroller of the Currency is in the early stages of developing cybersecurity operational-resilience standards for critical bank operations, acting Comptroller Michael Hsu said. “ While a cyber attack has not yet crippled a critical operation and caused financial instability, there is broad agreement that one could and that preparations need to be made accordingly,” he said. The OCC is developing an advance notice of proposed rulemaking, Hsu said, which seeks public feedback on a possible banking rule proposal.The US Office of the Comptroller of the Currency is in the early stages of developing cybersecurity operational-resilience standards for critical bank operations, acting Comptroller Michael Hsu said....

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