February 25th, 2021

FedLine Security and Resiliency Assurance Program - WST

Beginning 2021, institutions that utilize FedLine services (FedLine Web, FedLine Advantage, FedLine Command, and FedLine Direct) must conduct an assessment of their compliance with the Federal Reserve Banks' FedLine security requirements and submit an attestation that they have completed the assessment. This assessment can be performed internally by an independent internal department/function such as an internal audit or compliance department, or by a qualified independent third party. If the assessment is conducted by a non-independent party or function, an independent third party must review the work conducted in connection with the assessment to establish that it was designed and conducted in a manner reasonably sufficient to identify any material noncompliance with the Security Requirements. Finally, the Federal Reserve Banks may determine that your organization is required to use an independent third party for this assessment.

The individual who signs your attestation should be an official or executive officer in charge of electronic payments operations or payments security for your organization. The deadline for submitting the first attestation is December 31, 2021. Moving forward, this assessment and attestation must be completed annually.

By now, your End User Authorization Contact (EUAC) should have received a kickoff email from the Federal Reserve that outlines the program expectations and a program guide. If you have not received that email, and you are a FedLine client, you may want to contact the Federal Reserve soon.

General information: https://www.frbservices.org/resources/resource-centers/security-resiliency-assurance-program/index.html

FAQ: https://www.frbservices.org/resources/fedline-solutions/faq/fedline-assurance-program.html

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