To assist the banking industry and examiners, the Board of Governors of the Federal Reserve System and the other Federal Financial Institutions Examination Council (FFIEC) agencies have issued the attached frequently asked questions (FAQs) related to the FFIEC guidance on Authentication in an Internet Banking Environment. The FAQs are designed to assist financial institutions and their technology service providers in conforming to the guidance, by addressing common questions on the scope of the guidance, risk assessments, timing, and other issues.
Reserve Banks are asked to distribute this SR Letter and the attached FAQs to the banking organizations supervised by the Federal Reserve, as well as to their supervisory and examination staff. If you have any questions regarding the FAQs, please contact Stacy Coleman, Assistant Director, Operational and IT Risk Section, at (202) 452-2934, Elton Hill, Senior Supervisory Financial Analyst, at (202) 452-2514, or John Gibbons, Supervisory Financial Analyst, at (202) 452-6409.