Examinations: Joint Statement on Identifying and Handling Highly Sensitive Information During Examinations

Summary

The Office of the Comptroller of the Currency (OCC), along with the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation (collectively, the agencies), issued a joint statement today on the handling of highly sensitive information during examinations of supervised banks. The agencies recognize the sensitivity of supervised banks’ data handled during the examination process and are committed to protecting and handling sensitive data in accordance with applicable confidentiality laws and regulations and data security standards.

Highlights

The joint statement discusses

• a coordinated approach to identifying data and documents requested for an examination that could be considered highly sensitive information.
• the range of potential options to minimize the collection and storage of highly sensitive information by the agencies.
• the agencies’ commitment to notify affected banks of a potential or confirmed material data breach involving confidential supervisory information as soon as practicable and within no more than 72 hours, subject to applicable legal considerations.

Further Information

Please contact the Compliance and Operational Risk Division, Office of the Chief National Bank Examiner, at (202) 649-6550.

James M. Gallagher
Senior Deputy Comptroller and Chief National Bank Examiner

Related Link

• Statement Regarding Coordinated Federal Banking Agency Approach for the Handling of Highly Sensitive Information During Examinations (PDF)