OMB Approves Emergency ICR for FFIEC Cybersecurity Assessment Tool

From: Chemical Facility Security News

esterday the OMB’s Office of Information and Regulatory Affairs (OIRA) announced that it had approved an emergency information collection request for the use of a cybersecurity assessment tool “that will assist financial institutions of all sizes in assessing their inherent cybersecurity risk and their risk management capabilities”.

This cybersecurity assessment tool was developed as a cooperative project of the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the Board of Governors of the Federal Reserve (Board), and the National Credit Union Administration (NCUA), under the auspices of the Federal Financial Institutions Examination Council (FFIEC). The table below lists the burden estimates, both for the individual agencies and the total burden and is based upon the supporting data [.DOC download] submitted to OIRA. The hours-burden is based upon an estimated 80 hours per assessment.

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