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Thursday, December 17, 2015

OCC Proposes Large Bank Guidelines on Recovery Planning

The OCC is proposing guidelines on recovery planning for the financial institutions it regulates with assets of more than $50 billion. The guidelines would join the OCC’s safety and soundness regulations as an appendix and be enforceable by statute, the agency said.

Under the proposed guidelines, each covered bank would be expected to develop and maintain a recovery plan appropriate for its own risk profile, size, activities and complexity. Each plan would be expected to include an overview of the bank; qualitative and quantitative stress triggers for when the recovery plan would be implemented; the range of recovery options for each trigger and how they would be implemented; assessments of how each option would affect the covered bank; escalation procedures; reports to management and the board; and communications procedures.

The proposed guidelines also outline responsibilities of senior executives and board members. Comments are due by Feb. 15, 2016.

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