OCC proposes recovery plan rule for banks with $100B or more in assets
By 
Aaron Nicodemus2024-07-09T14:16:00
The Treasury Department’s Office of the Comptroller of the Currency (OCC) proposed a rule that would extend requirements for recovery plans to all banks with at least $100 billion in assets.
The proposed rule, published July 3 in the Federal Register, would require approximately 19 additional mid-sized banks to create detailed recovery plans to be implemented during times of severe financial stress or failure.
The OCC’s current recovery planning guidelines apply to large banks with more than $250 billion in assets or to banks with less than $250 billion if they are highly complex or present what the agency considers to be heightened risks.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
PremiumOCC’s Hsu advocates requiring mid-sized banks create ‘robust’ recovery plans
Acting Comptroller of the Currency Michael Hsu said he favors requiring more mid-sized U.S. banks to conduct the same rigorous recovery planning as the largest banks, part of a lesson learned from the collapse of three mid-sized banks in 2023.
-
PremiumOCC’s Hsu: ‘Sense of fairness’ key to bank compliance initiatives
Acting Comptroller of the Currency Michael Hsu argued banks should adopt a “strong sense of fairness” to bolster the effectiveness of their compliance programs, particularly regarding lending decisions guided by AI and machine learning tools.
-
PremiumOCC examiners to focus 2024 attention on risks that led to bank failures
Bank examiners from the Office of the Comptroller of the Currency are focusing their supervision attention on how banks manage risks that brought down three mid-sized financial institutions earlier this year.
More from Regulatory Policy
-
News BriefNot just for the rich: SEC may make closed-end funds available to retail investors
Securities and Exchange Commission Chair Paul Atkins indicated he favors changing the agency’s requirement that only the wealthy can invest in so-called “closed-end” private equity funds and hedge funds.
-
Basic PageDOJ shutters FBI unit that investigated Trump and 2020 election interference
The Department of Justice (DOJ) has shuttered a special Federal Bureau of Investigation (FBI) unit that focused on public corruption and whose legwork led to the special counsel investigation of President Donald Trump for trying to overturn the 2020 election results.
-
News BriefTrump administration launches pressure campaign against EU Digital Services Act
The Trump administration is preparing to ask the European Union to alter or water down its rules on content moderation on social media, claiming that they hurt the competitiveness of American technology companies.