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Recovery and resolution planning is aimed for banks to better plan their responses to severe crisis and avoid having to rely on government bailouts. Bank Negara Malaysia ("BNM") issued an Exposure Draft on Recovery Planning in January 2020 that provides the requirements on Recovery Planning for all licensed banks in Malaysia. Based on this Exposure Draft, banks would need to draw up a detailed recovery plan and submit the plan together with the required data to BNM within 12 months from the issuance date of the final guideline.
Banks would need to integrate recovery planning to their existing risk management framework and not treat it as a compliance exercise. This effort cannot be underestimated. We encourage banks to start early and have a dedicated multi-disciplinary team to undertake this exercise.
Via workshops, we can share technical requirements of the required content in the recovery plan and detailed explanations on the template requirements.
Choo Wai Ting
Partner, Risk Assurance Services, PwC Malaysia
Tel: +60 (3) 2173 0554
Glenda Eng Hui Sian
Director, Risk Assurance Services, PwC Malaysia
Tel: +60 (3) 2173 0557