On April 2, 2014, the FDIC issued a Financial Institution Letter notifying banks of recent “large dollar” ATM fraud and related cyber-attacks aimed at tapping into web-based control panels for ATMs. The FDIC highlighted a recent $40 million theft involving the use of 12 debit card accounts. The FIL included guidance for financial institutions related to reducing financial and other risks associated with cyber-attacks.
Entries in FIL (3)
On October 8th, the FDIC issued a Financial Institution Letter (FIL-46-2013) entitled “Managing Sensitivity to Market Risk in a Challenging Interest Rate Environment.” The letter outlines four key areas for banks to consider in managing the risk of rising interest rates.
On January 12th, the federal banking agencies issued Supervisory Guidance and a Financial Institution Letter regarding interest rate risk (IRR) management. The Guidance contained answers to 12 “Frequenty Asked Questions” intended to clarify the 2010 interagency Advisory on Interest Rate Risk Management.