The FFIEC is retiring its Cybersecurity Assessment Tool (CAT) by August 31, 2025, and recommends that financial institutions transition to the NIST Cybersecurity Framework 2.0 (CSF 2.0) as an alternative. This shift is driven by the need for more updated and comprehensive cybersecurity frameworks as threats evolve. Time is running out for supervised financial institutions to transition to deploy and assess cybersecurity according to NIST CSF 2.0.
Why the change?
The FFIEC determined that the CAT, while helpful, wasn't being updated to reflect newer government resources like NIST CSF 2.0 and CISA's (U.S. Department of Homeland Security's Cybersecurity and