Regulatory Alerts2020-06-29 | 131/04Rule on Developing and Assessment of Recovery Plan of a Commercial Bank
The National Bank of Georgia issued this decree to mandate that domestic commercial banks and foreign branches develop and submit comprehensive recovery plans to ensure financial stability during severe stress. The regulation establishes detailed requirements for plan content, including governance structures, quantitative indicators with specific thresholds, strategic analyses of critical functions, and defined stress scenarios. It further outlines the National Bank's authority to assess plan completeness and efficiency within six months and requires annual renewal to incorporate significant changes in the bank's operations or the macroeconomic environment.
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