OCC Updates Handbook on Recovery Planning

The Office of the Comptroller of the Currency updated the "Recovery Planning" booklet of the Comptroller's Handbook. The handbook covers examination procedures. The revised version of the booklet replaces and rescinds the first version.

The updates to the booklet include changes to the enforceable guidelines with respect to recovery planning standards for covered national banks, federal savings associations and federal branches. In particular, (i) the average total consolidated assets threshold for applying the guidelines to banks is increased from $50 billion to $250 billion and (ii) the timeframe for which a bank must comply with the guidelines is decreased from 18 to 12 months.