Fed internal watchdog to study oversight of cybersecurity at banks

The Federal Reserve's internal watchdog plans to study how well the central bank is overseeing cybersecurity practices at financial institutions, the U.S. central bank said on Monday. The Office of Inspector General (OIG) at the Fed's Board of Governors plans to release the audit in the fourth quarter, the OIG said in a report on current and upcoming projects. Fed Chair Janet Yellen is due to appear before a U.S. Senate committee on Tuesday and will likely face questions about cybersecurity breaches involving the central bank.

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