News & Insights

Help
45 News Results

The Office of the Comptroller of the Currency ("OCC") solicited comments on a proposed rule to establish guidelines for recovery planning by banks. The guidelines would apply to insured national banks, insured federal savings associations and insured federal branches of foreign banks with average total consolidated assets of $50 billion or more ("covered banks"). The OCC emphasized that due to "recent large-scale operational events, such as destructive cyber attacks," institutions must plan how to address significant stress events before they occur. Highlights of the proposal include the