WASHINGTON—The Office of the Comptroller of the Currency (OCC) today requested comment on a proposal to revise its recovery planning guidelines for certain large insured national banks, federal savings associations, and federal branches (banks).
The proposed rulemaking is part of the OCC’s effort to ensure that large banks are adequately prepared and have developed a plan to respond to the financial effects of severe stress, particularly in light of the contagion effects and systemic risks they may pose.
The proposal would:
- Expand recovery planning guidelines to apply to banks with at least $100 billion in assets;
- Incorporate a testing standard for recovery plans; and
- Clarify the role of non-financial risk (including operational and strategic risk) in recovery planning.
Comments from the public are due 30 days from the date of publication in the Federal Register.