Regulatory Alerts2023-01-01
Recovery Plan Guideline October 2023
The Central Bank of Trinidad and Tobago issued this guideline to establish a framework for financial institutions to develop and maintain recovery plans that restore financial viability during severe stress events. The document mandates that boards and senior management define clear responsibilities, implement monitoring processes for trigger events, and ensure plans are proportionate to the institution's risk profile and complexity. It requires recovery plans to include specific elements such as stress scenarios, concrete recovery options, impact assessments, and communication protocols to effectively manage financial distress.
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