Federal Reserve database outage disrupts bank monitoring for over 24 hours

OCC: The Office of the Comptroller of the Currency is a Treasury Department bureau that charters and supervises national banks and federal savings associations. It relies on coordinated regulatory databases for ongoing bank oversight and risk assessment. The system disruption affected its ability to receive and utilize bank monitoring data. FDIC: The Federal Deposit Insurance Corporation is an independent U.S. government agency responsible for insuring bank deposits and supervising financial institutions for safety and soundness. It participates in inter-agency data sharing platforms to monitor banks effectively. The recent outage limited its access to critical shared regulatory information. Federal Reserve: The Federal Reserve serves as the central banking system of the United States, conducting monetary policy and overseeing the stability of the financial system through bank supervision. It maintains shared regulatory databases to facilitate data exchange with other agencies. The outage of one of its key systems disrupted internal operations and inter-agency monitoring last month. National Information Center: The National Information Center is a Federal Reserve-managed database that aggregates and distributes information on banks and depository institutions. It supports oversight activities for multiple U.S. regulators by providing centralized access to bank data. The platform went offline for more than 24 hours in the past month due to pipeline failures. Inter-Agency Coordination: The National Information Center outage disrupted data sharing used jointly by the Fed, FDIC, and OCC for bank monitoring. Regulatory Infrastructure: Failed data pipelines triggered downstream effects across multiple Federal Reserve business areas including the discount window.