Content area
Changes have occurred in the manner and the degree to which regulators are focusing on bank information systems. The affected areas range from report filing and documentation to disaster recovery. In addition, an amendment to Regulation CC in the 1991 Federal Deposit Insurance Corp. Improvement Act (FDICIA) will have an impact on check clearing. The FDICIA and the Truth in Savings Act of 1991 will increase the amount of information banks must provide to consumers and regulators. Recent editions of the Federal Financial Institutions Examination Council EDP Examination Handbook have outlined regulations related to disaster recovery planning and business continuity. To date, compliance of most large institutions has been rated satisfactory, but smaller regional and community banks have had to make adjustments in order to comply. In addition to federal regulations, state regulations also are demanding more attention from banking's technology executives.
Details
Regulators;
Impacts;
Federal regulation;
Us Congress;
Software;
Regulations;
Operations;
Networks;
Home Mortgage Disclosure Act;
Directors;
Capital Adequacy;
Bank Secrecy Act;
Regulation CC;
Bank officers;
Executives;
Interstate banking;
Emergency preparedness;
Trust departments;
Compliance;
Bank examinations;
Risk management;
Banking industry;
Contingency planning;
Data processing;
Banks;
Computer centers;
Bank examiners;
Service centers;
Personal computers;
Safety & soundness;
Information systems;
Bank holding companies;
Auditors;
Regulation of financial institutions;
Disaster recovery;
Handbooks;
Management information systems;
Regulatory agencies
8100: Financial services industry
5220: Data processing management
4310: Regulation
52211: Commercial Banking
55111: Management of Companies and Enterprises
51821: Data Processing, Hosting, and Related Services
92615: Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors
52399: All Other Financial Investment Activities