Guidelines Establishing Standards for Recovery Planning by Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches

ICR 202410-1557-008

OMB: 1557-0333

Federal Form Document

Forms and Documents
IC Document Collections
IC ID
Document
Title
Status
219218
Unchanged
ICR Details
1557-0333 202410-1557-008
Received in OIRA 202407-1557-003
TREAS/OCC
Guidelines Establishing Standards for Recovery Planning by Certain Large Insured National Banks, Insured Federal Savings Associations, and Insured Federal Branches
Revision of a currently approved collection   No
Regular 10/23/2024
  Requested Previously Approved
36 Months From Approved 03/31/2025
21 8
672,357 60,344
0 0

In 2016, the OCC issued guidelines applicable to each insured national bank, insured Federal savings association, and insured Federal branch of a foreign bank (together, banks) with average total consolidated assets equal to or greater than $50 billion (covered banks). The guidelines stated that each covered bank should develop and maintain a recovery plan that is appropriate for its individual size, risk profile, activities, and complexity, including the complexity of its organizational and legal entity structure, in order to be able to respond quickly to and recover from the financial effects of severe stress. The guidelines established standards for this recovery planning. In 2018, the OCC raised the threshold from $50 billion to $250 billion. This filing is in connection with the OCC-issued final guidelines that revise the threshold to $100 billion or more. The final guidelines also incorporate a testing standard for recovery plans and clarify the roles of financial and non-financial (including operational and strategic) risk in recovery planning.

US Code: 12 USC 1831p-1 Name of Law: Federal Deposit Insurance Act
   PL: Pub.L. 115 - 174 401 Name of Law: Economic Growth, Regulatory Relief, and Consumer Protection Act
  
None

1557-AF27 Final or interim final rulemaking 89 FR 84255 10/22/2024

No

1
IC Title Form No. Form Name
Recovery Plan

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 21 8 0 13 0 0
Annual Time Burden (Hours) 672,357 60,344 0 612,013 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Changing Regulations
No
The new testing standard and inclusion of non-financial risks will increase burden hours for existing covered banks. Additionally, compliance by newly covered banks will add burden hours and involve significant engagement across various stakeholders in the front-line unit, independent risk management, and internal audit. The increase in burden is also driven by an original underestimation of burden hours.

No
    No
    No
No
No
No
No
Andra Shuster 202 874-5090 andra.shuster@occ.treas.gov

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
10/23/2024


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