A 30-day comment period is underway for proposed revisions to the national bank regulator’s recovery planning guidelines for certain large national banks and their branches, the regulator said June 24.
Comments are due Aug. 2, the Office of the Comptroller of the Currency (OCC) said.
The OCC noted that the proposal would expand recovery planning guidelines to apply to banks with at least $100 billion in assets; incorporate a testing standard for recovery plans; and clarify the role of non-financial risk (including operational and strategic risk) in recovery planning.
The agency said the proposal is part of its effort to ensure that large banks are adequately prepared and have developed a plan to respond to the financial effects of severe stress, particularly considering the “contagion effects” (such as through the coronavirus crisis) and “systemic risks they may pose.”
OCC Requests Comments on Proposed Revisions to Its Recovery Planning Guidelines