OCC amends recovery planning standards

The Office of the Comptroller of the Currency is amending its enforceable guidelines relating to recovery planning standards (guidelines) for insured national banks, insured federal savings associations, and insured federal branches (banks) in order to limit the application of the guidelines to the largest, most complex banks and thereby provide regulatory burden relief to smaller, less complex institutions. As summarized in OCC Bulletin 2018-47,

• The final revised guidelines increase the average total consolidated assets threshold for applying the guidelines to banks from $50 billion to $250 billion. This change will reduce the number of banks to which the guidelines apply from 25 to 8, based on the most recent data available.
• The final revised guidelines decrease from 18 months to 12 months the time within which a bank should comply with the guidelines after the bank first becomes subject to them..

The amendments to the OCC's Safety and Soundness Standards regulations at 12 CFR Part 30, were published on December 27, with an effective date of January 28, 2019.