OCC revises guidelines on recovery planning standards for certain banks
OCC expands recovery planning guidelines' applicability, incorporates testing standard for recovery plans, and clarifies role of nonfinancial risk.
Guidelines establishing standards for recovery planning by certain large insured national banks, federal savings associations, and federal branches are to be revised by the Office of the Comptroller of the Currency (OCC).
The final guidelines are effective on January 1, 2025, with staggered compliance dates based on size (total consolidated