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September 19, 2018

OCC is proposing to amend its enforceable guidelines on recovery planning standards for insured national banks, insured federal savings associations, and insured federal branches. Comments must be received by November 05, 2018. The proposed guidelines would have an effective date of October 19, 2018 and OCC is requesting comments on the proposed effective date, among others.

The proposal is to increase the average total consolidated assets threshold for applying the guidelines from USD 50 billion to USD 250 billion. In addition, the proposed change to the guidelines would decrease, from 18 months to 12 months, the time within which a bank should comply with the guidelines after the bank becomes subject to them. The proposal would also make technical amendments to remove outdated compliance dates. This notice of proposed rule-making includes changes to an approved collection of information.

The guidelines can be found in appendix E of 12 CFR part 30, sections II.B., II.C., and III and they contain information collection requirements previously approved by OMB. Section II.B. specifies the elements of the recovery plan, including an overview of the covered bank, triggers, options for recovery, impact assessments, escalation procedures, management reports, and communication procedures. Section II.C. addresses the relationship of the plan to other covered bank processes and coordination with other plans, including the processes and plans of its bank holding company. Section III outlines management's and the board's responsibilities. The threshold triggering these requirements is being changed under this notice of proposed rule-making, resulting in a reduction in the number of respondents under this collection. Now, the total number of respondents is expected to be eight national banks.


Related Links

Comment Due Date: November 05, 2018

Effective Date: October 19, 2018 (Proposed)

Keywords: Americas, US, Banking, Recovery Planning, Information Collection, OCC

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