Regulatory Alerts2024-06-17
Added · Updated
Banks - Information on Recovery Plans - Article 582.8 of the Compilation of Regulations and Control of the Financial System
The Financial Regulatory Superintendent incorporated Article 582.8 into the Compilation of Regulations and Control of the Financial System, requiring banks subject to systemic risk capital requirements to submit information on their recovery plans. These banks must report on processes to restore financial solidity and viability under severe stress, with data referring to December 31 and due by April 30 each year. Plans must be updated and reported within five business days following approval if material changes occur in the entity's structure, strategy, operations, or aggregate risk exposure.
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