09/05/2024 | Press release | Distributed by Public on 09/05/2024 07:45
The Federal Financial Institutions Examination Council (FFIEC) issued the "Development, Acquisition, and Maintenance" booklet, which is part of the FFIEC Information Technology Examination Handbook. The booklet replaces the "Development and Acquisition" booklet issued in April 2004. The examination procedures in this booklet help examiners evaluate a financial institution's controls and risk management processes relative to the risks associated with the development, acquisition, and maintenance of an institution's systems and components.
The booklet applies to the OCC's supervision of community banks.1
The booklet
The booklet's revised title reflects an increased focus on the development, acquisition, and maintenance activities over the useful life of a system or component.
Please contact Norine Richards, Director for Bank Information Technology, at (202) 649-6550.
Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy
1 "Banks" refers collectively to national banks, federal savings associations, and federal branches and agencies of foreign banking organizations.