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US OCC's Hsu supports expanding recovery planning guidelines

( May 28, 2024, 17:24 GMT | Official Statement) -- MLex Summary: Acting US Comptroller of the Currency Michael J. Hsu said that recovery planning guidelines should be expanded to all large banks with at least $100 billion in assets. “While counterfactuals are hard to prove, one does not have to strain to see how strong recovery planning might have mitigated the failures of Silicon Valley Bank and Signature Bank. At a minimum, such planning would have made their resolutions more orderly and less costly to the Deposit Insurance Fund,” Hsu said. Hsu discussed recovery planning in remarks at the Entrepreneurship, Markets and Technology: Regulation's Challenges in a Changing World Conference in Zurich, Switzerland.See document below. ...

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