Regulatory Alerts2022-02-24
Added
BRPD Circular No. 03: Recovery Plan for Banks
Bangladesh Bank requires all Scheduled Banks in Bangladesh to develop and submit a Recovery Plan to cope with severe stress events, effective immediately. The initial plan, approved by the Board of Directors, must be submitted to the Division-1, Department of Offsite Supervision (DOS) by June 30, 2022, with annual updates due by January 31st each year. Banks must adhere to the provided guidance and layout, detailing components such as triggers, stress scenarios, recovery options, and escalation procedures. The plan must be integrated into the bank's risk governance and aligned with other strategic and operational plans, with management and the Board of Directors responsible for its annual review and approval.
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