Law360, New York (November 3, 2016, 4:45 PM EDT) -- In a major new cybersecurity initiative, federal banking agencies have issued an advanced notice of proposed rulemaking (ANPR) seeking comment on enhanced cybersecurity standards for banking entities with $50 billion or more in total assets. The standards will apply to U.S. bank, savings and loan holding companies and their subsidiary institutions as well as to foreign bank holding companies with $50 billion or more in U.S. assets. The goal of the joint initiative by the Federal Reserve Board, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. (the "agencies") is to establish standards making the largest banking entities, and the U.S. financial system itself, more operationally resilient in the event of a cyberattack or disruption experienced by any one such entity. The agencies are also considering applying the standards to third-party servicers that serve the covered entities. Comments on the APNR are due by Jan. 17, 2017....