Guidelines Establishing Standards for Recovery Planning by Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches

Forms and Documents

Document Name	Status
1557-0333 Recovery Planning Final Guidelines Supporting Statement Final (Submitted to OMB).docx Supporting Statement A	2024-10-23

IC Document Collections

IC ID	Document Title	Status
219218	Recovery Plan	Unchanged

ICR Details

OMB Control No: 1557-0333	ICR Reference No: 202410-1557-008
Status: Received in OIRA	Previous ICR Reference No: 202407-1557-003
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Guidelines Establishing Standards for Recovery Planning by Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 10/23/2024

	Requested	Previously Approved
Expiration Date	36 Months From Approved	03/31/2025
Responses	21	8
Time Burden (Hours)	672,357	60,344
Cost Burden (Dollars)	0	0

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Abstract: In 2016, the OCC issued guidelines applicable to each insured national bank, insured Federal savings association, and insured Federal branch of a foreign bank (together, banks) with average total consolidated assets equal to or greater than $50 billion (covered banks). The guidelines stated that each covered bank should develop and maintain a recovery plan that is appropriate for its individual size, risk profile, activities, and complexity, including the complexity of its organizational and legal entity structure, in order to be able to respond quickly to and recover from the financial effects of severe stress. The guidelines established standards for this recovery planning. In 2018, the OCC raised the threshold from $50 billion to $250 billion. This filing is in connection with the OCC-issued final guidelines that revise the threshold to $100 billion or more. The final guidelines also incorporate a testing standard for recovery plans and clarify the roles of financial and non-financial (including operational and strategic) risk in recovery planning.

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Authorizing Statute(s): US Code: 12 USC 1831p-1 Name of Law: Federal Deposit Insurance Act
   PL: Pub.L. 115 - 174 401 Name of Law: Economic Growth, Regulatory Relief, and Consumer Protection Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AF27	Final or interim final rulemaking	89 FR 84255	10/22/2024

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Recovery Plan

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	21	8	0	13	0	0
Annual Time Burden (Hours)	672,357	60,344	0	612,013	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The new testing standard and inclusion of non-financial risks will increase burden hours for existing covered banks. Additionally, compliance by newly covered banks will add burden hours and involve significant engagement across various stakeholders in the front-line unit, independent risk management, and internal audit. The increase in burden is also driven by an original underestimation of burden hours.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 10/23/2024

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