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Compliance deadline for OCC rule on recovery planning (largest banks)


Affects national banks and federal savings associations with total assets of $50 billion ore more but less than $100 billion as of 1/1/17.

The Office of the Comptroller of the Currency has published a final rule and guidelines establishing standards for recovery planning by insured national banks, insured Federal savings associations, and insured Federal branches of foreign banks with average total consolidated assets of $50 billion or more (Final Guidelines). The OCC is issuing the Final Guidelines as an appendix to its safety and soundness standards regulations, and the Final Guidelines will be enforceable by the terms of the Federal statute that authorizes the OCC to prescribe operational and managerial standards for national banks and Federal savings associations. The guidelines become effective January 1, 2017, with phased-in compliance dates over 18 months from that date, with the largest banks (total assets of $750 billion or more) required to comply by July 1, 2017.

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