In August 2020, the Federal Reserve Banks announced the implementation of the Security and Resiliency Assurance Program (“Assurance Program”). As part of this new program, institutions that use the FedLine Solutions must:
- Conduct an assessment of their compliance with the Federal Reserve Banks’ FedLine security requirements
- Provide attestation that they have completed this assessment
These steps will help reduce the risk of fraudulent payments being sent through the payments system. While we layer and embed security within the FedLine service, your organization plays a vital role in safeguarding the payment messages and information that are transmitted over FedLine. The Assurance Program is based on the current FedLine security requirements for FedLine Solutions. This documentation is available via your organization’s End User Authorization Contacts (EUACs).
Your organization should receive its attestation materials by Friday, January 29, 2021. Your organization will have until December 31, 2021 to complete the program. Organizations will receive periodic reminders throughout the year as the deadline approaches. There is no penalty for submitting the attestation early. Going forward, we anticipate that organizations will be required to conduct a self-assessment and complete a corresponding attestation on an annual basis — once each calendar year between January 1 and December 31.
In order to assist your organization through this process and to make completing the program as easy as possible, we have highlighted several resources and answers to our customers’ questions in the Assurance Program Resource Center.
For instance, you may be wondering “Who can sign the attestation?” and “Why are we receiving the attestation materials so far in advance of the due date?” You’ll find the answers to these questions and many others on the Frequently Asked Questions page.
If you have additional questions about the Assurance Program, please contact the Support Center. Our account executives are also available to assist you. To find a list of Federal Reserve Bank contacts specific to your organization, use the Find Your Contacts tool.