More Banks Hit With Recovery Plans After 2023 Crisis (Correct)

Around 12 additional banks would be required to submit detailed plans to show how they would recover from severe financial stresses following last year’s regional bank failures under a federal regulator’s new proposal.

National banks with $100 billion or more in total consolidated assets—instead of the current $250 billion threshold—would have to develop the recovery plans under a proposed rule the Office of the Comptroller of the Currency issued Monday.

The proposal would also require banks subject to the rule to develop tests to determine the viability of those plans.

The OCC put in place recovery planning guidelines for banks ...