WASHINGTON (10/8/13)--Financial institutions and their technology service providers should identify, assess, and manage the potential operational risks associated with Microsoft's upcoming discontinuation of support for its Windows XP operating system, the National Credit Union Administration and its fellow financial institution regulators urged Monday.
The software giant is scheduled to cease Windows XP support on April 8, 2014. The operating system was first released to consumers in 2001.
Financial institutions must "ensure that safety and soundness and the ability to deliver products and services are not compromised" by this change, an NCUA
release said. The release was cosigned by Federal Financial Institutions Examination Council (FFIEC) members.
The FFIEC was formed in 1978 to promote uniformity in financial institution regulation. It is comprised of the heads of the NCUA, Office of the Comptroller of the Currency, Federal Deposit Insurance Corp., Consumer Financial Protection Bureau, Council's State Liaison Committee, and a member of the Federal Reserve Board.