The OCC yesterday announced revisions to its guidelines on recovery planning for the large financial institutions it regulates. Specifically, the agency has increased the threshold at which banks are covered by the guidance from $50 billion to $250 billion, and it has decreased the time within which a bank should comply with the guidelines from 18 to 12 months.
The revisions are meant to align the OCC’s supervision with changes under the S. 2155 regulatory reform law. “This change is consistent with providing necessary and appropriate burden relief to the affected banks while retaining the guidelines for the largest, most complex banks,” the agency said.
Under the guidelines, each covered bank is expected to develop and maintain a recovery plan appropriate for its own risk profile, size, activities and complexity.
