Guidelines Establishing Standards for Recovery Planning by Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches
Guidelines Establishing
Standards for Recovery Planning by Certain Large Insured National
Banks, Insured Federal Savings Associations, and Insured Federal
Branches
Revision of a currently approved collection
No
Regular
10/23/2024
Requested
Previously Approved
36 Months From Approved
03/31/2025
21
8
672,357
60,344
0
0
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.
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
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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