Regulatory Alerts2022-07-06
Finanstilsynet's Guidelines on Recovery Plans
Finanstilsynet issued updated guidelines requiring banks, credit institutions, and financial holding companies to prepare and maintain comprehensive recovery plans in accordance with the Financial Enterprises Act and EBA standards. The document mandates specific content for these plans, including strategic analysis, clearly defined recovery indicators, and realistic, actionable measures to restore financial stability during stress scenarios. It further establishes strict reporting obligations for indicator breaches and outlines the Board's responsibility to ensure plan integration, annual review, and alignment with crisis management protocols.
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