FFIEC Cybersecurity Assessment Tool

Forms and Documents

Document Name	Status
1557-0328 CAT Supporting Statement 7-15-19.doc Supporting Statement A	2019-07-15

IC Document Collections

IC ID	Document Title	Status
216960	FFIEC Cybersecurity Assessment Tool Other-Assessment: User's Guide, Inherent Risk Profile, and Cyber	Modified

ICR Details

OMB Control No: 1557-0328	ICR Reference No: 201907-1557-001
Status: Active	Previous ICR Reference No: 201705-1557-001
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: FFIEC Cybersecurity Assessment Tool
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/29/2019
	Date Received in OIRA: 07/29/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2022	36 Months From Approved	08/31/2019
Responses	13,690	0	16,821
Time Burden (Hours)	1,215,140	0	1,474,660
Cost Burden (Dollars)	0	0	0

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Abstract: The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve, and the National Credit Union Administration (together, the "agencies"), under the auspices of the Federal Financial Institutions Examination Council ("FFIEC"), have accelerated efforts to assess and enhance the state of the financial industry's cyber preparedness, and to close gaps in the agencies' examination procedures and training that can strengthen the oversight of financial industry cybersecurity readiness. The agencies also have focused on improving their abilities to provide financial institutions with resources that can assist in protecting institutions and their customers from the growing risk posed by cyber attacks. As part of these increased efforts, the agencies developed a Cybersecurity Assessment Tool ("Assessment") that assists financial institutions of all sizes in assessing their inherent cybersecurity risk and their risk management capabilities. The Assessment allows a financial institution to identify its inherent cyber risk profile based on the financial institution's technologies and connection types, delivery channels, online/mobile products and technology services it offers, organizational characteristics, and threats it is likely to face. Once an institution identifies its inherent risk, it can evaluate its level of cybersecurity preparedness based on the institution's cyber risk management and oversight, threat intelligence capabilities, cybersecurity controls, external dependency management, and cyber incident management and resiliency planning using the Assessment's maturity matrix. A financial institution can use the maturity levels to identify opportunities for improving the institution's cybersecurity, based on its inherent risk profile. The Assessment also enables financial institutions to identify areas more rapidly that could improve their cybersecurity risk management and response programs, if needed. In response to requests from financial institutions, this nonmaterial change provides an update to the Assessment that expands the response options for each declarative statement. With the additional response option, financial institutions’ management may include supplementary or complementary behaviors, practices, and processes that represent current practices of the institution in assessing declarative statements. This change will not result in any change in burden.

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Authorizing Statute(s): US Code: 12 USC 1 et seq. Name of Law: The National Bank Act
   US Code: 12 USC 221 et seq. Name of Law: The Federal Reserve Act
   US Code: 12 USC 1831p-1 Name of Law: The Federal Deposit Insurance Corporation Act
   US Code: 12 USC 1811 et seq. Name of Law: The Federal Deposit Insurance Act
   US Code: 12 USC 1751 et seq. Name of Law: The Federal Credit Union Act
   US Code: 12 USC 6801 and 6805(b) Name of Law: The Gramm-Leach Bliley Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 13786	04/05/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 36659	07/29/2019
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
FFIEC Cybersecurity Assessment Tool

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	13,690	16,821	0	0	-3,131	0
Annual Time Burden (Hours)	1,215,140	1,474,660	0	0	-259,520	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The reduction in burden is due to the reduction in the number of regulated entities.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 07/29/2019

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