When I requested our critical vendors most recent examination reports, the FDIC provided the below "note" to be disclosed to our board. I was wondering if anyone else has been given this same "note"? If so, can someone provide clarity about what that disclosure statement is for and the context? Answering more concisely, "
Why is the Board looking at that statement?"
Subject: Information Technology Report of Examination Members of the Board:
Your bank requested one or more Technology Service Provider Reports of Examination for which you are a client. The requested Report(s) of Examination is(are) enclosed. If a requested Technology Service Provider Report of Examination is not included, the service provider is not examined regularly by the FDIC or FFIEC.
Basis of Evaluation: In evaluating the operations of these servicers, we depended upon the following sources of information:
- Records and books of the servicer.
- Statements made by the servicer's directors, officers, and employees.
- Other sources believed to be reliable and presumed correct. This evaluation does not diminish direct audit responsibilities of institutions serviced by this organization.
Confidentiality Notice: The information contained in the evaluations is confidential and cannot be disclosed or made public in any manner. Notify us immediately if you receive a subpoena or other legal process document, which calls for the production of this evaluation.