Latest FFIEC software escrow guidelines: What you need to know

The Federal Financial Institutions Examination Council (FFIEC) has issued new guidance on software escrow arrangements for U.S. financial institutions to enhance risk management and ensure critical software availability. Key requirements include:

Annual validation of escrowed source code
Specific provisions in escrow agreements, such as documentation and accessibility
Considerations for foreign-based escrow arrangements

Adhering to the new FFIEC standards can improve governance, resilience, and help avoid regulatory penalties and disruptions. Read this blog post now to learn how you can meet these guidelines, providing peace of mind and security.

Vendor:: NCC Group
Posted:: Jan 3, 2025
Published:: Jan 6, 2025
Format:: HTML
Type:: Blog

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