Regulatory Alerts2024-05-30
Guidelines on the Preparation of Recovery Plan for Banks with Simple and Non-Complex Operations
The Bangko Sentral ng Pilipinas issued guidelines requiring thrift, rural, and cooperative banks to submit their first recovery plan by 30 June 2024. The document provides a suggested format and detailed requirements for governance, early warning indicators, stress testing, and recovery options tailored to institutions with simple and non-complex operations. It also includes frequently asked questions to clarify the relationship between recovery plans and other existing contingency and capital restoration frameworks.
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