The Office of the Comptroller of the Currency ("OCC") published a new "Recovery Planning" booklet of the Comptroller's Handbook.
The booklet contains guidelines for recovery planning for "covered banks" (generally banks with over $50 billion in assets or that are unusually complex). The guidelines consist of (i) a description of the banks to which the guidelines apply, (ii) standards for designing and executing recovery plans, and (iii) responsibilities of a bank's management and board in the recovery planning process.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
