WASHINGTON—The Office of the Comptroller of the Currency (OCC) today finalized revised restructuring plan guidelines for certain large insured national banks, federal savings associations, and federal branches.
Revised restructuring planning guidelines ensure that large banks are adequately prepared for the financial impact of severe stress and have response plans in place, particularly taking into account the contagion effects and systemic risks it may pose. This is part of OCC’s efforts to
Revised details:
Expands restructuring planning guidelines to apply to banks with at least $100 billion in assets. Incorporate testing criteria for recovery plans. Clarify the role of non-financial risks (including operational and strategic risks) in recovery planning. Depending on the comments, it will provide target banks with deadlines to comply with the turnaround plan guidelines, including developing a testing framework and conducting tests.
This revision will take effect on January 1, 2025, with staggered compliance dates.
