Guidelines updated that reduce the number of national banks, federal savings associations (FSAs) and insured federal branches of foreign institutions subject to enforceable recovery planning guidelines were transmitted in a bulletin Thursday from the Office of the Comptroller of the Currency (OCC).
As reported here Wednesday, the OCC has revised from $50 billion to $250 billion the asset-size threshold for supervised institutions subject to these OCC guidelines. The change, the bulletin notes, was to limit the application of the recovery planning guidelines “to the largest, most complex banks and thereby provide regulatory burden relief to smaller, less complex institutions.”
The updates reduce the number of institutions subject to the guidelines from 25 to 8; the revised guidelines also reduce from 18 months to 12 months the amount of time a bank has to comply once it becomes subject to the guidelines.
OCC Guidelines Establishing Standards for Recovery Planning by Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches; Technical Amendments(Federal Register, Dec. 27, 2018)