Regulatory Alerts2024-12-01
Added · Updated
Recovery Plan Guidelines issued by BOU 13th December 2024
The Bank of Uganda has revised the Recovery Planning Guidelines for Supervised Financial Institutions to address observed gaps in plan preparation and maintenance. All commercial banks must conduct a comprehensive self-assessment of compliance with these revised guidelines and submit the resulting report along with an updated Recovery Plan to the Bank by 28th February 2025. The guidelines mandate that recovery plans be owned by the institutions, cover all subsidiaries on a consolidated basis, and include specific components such as strategic analysis, recovery triggers, and stress scenario assessments.
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