Results of Scoping of the Evaluation of the Board and Reserve Banks’ Cybersecurity Incident Response Process for Supervised Institutions

Excerpt:  “As part of our scoping efforts, we identified findings and recommendations that we believe the Board of Governors of the Federal Reserve System should implement to enhance the cybersecurity incident response process. We found that the Board can update guidance to clarify the mission and the governance structure of the cybersecurity incident response process. A clearly defined mission and governance structure for the cybersecurity incident response process should help guide the efforts of the parties involved and help enhance the effectiveness of the Board and Federal Reserve Banks’ response to cybersecurity incidents.”