Regulatory Alerts2020-06-19
Added · Updated
New Supervisory Policy Manual Module RE-1: Recovery Planning
The document establishes Supervisory Policy Manual Module RE-1, a statutory guideline issued by the MA under §7(3) of the Banking Ordinance, to provide guidance to Authorized Institutions (AIs) on recovery planning. It sets out the MA’s expectations for the key elements of effective recovery plans, including governance, recovery triggers, and stress scenarios, and details the MA’s approach to reviewing these plans. The module applies to all AIs in a proportionate manner and outlines the statutory powers under Part XIIA of the Banking Ordinance, such as the requirements to prepare, maintain, submit, and implement recovery plans.
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