BSP wants too-big-to-fail banks to submit separate recovery plan April 21, 2021 | 12:31 am Reporter THE Bangko Sentral ng Pilipinas (BSP) is requiring too-big-too-fail banks to submit a separate recovery plan annually starting 2022, a move seen giving the regulator a more focused assessment of a lender’s plans to bounce back from a crisis. “The Bangko Sentral shall review the recovery plan as part of the overall supervisory process for domestic systemically important banks (D-SIBs), focusing on assessing the recovery plan’s robustness, credibility, and ability to be effectively implemented,” BSP Governor Benjamin E. Diokno said in Circular No. 1113. Previously, central bank regulations only required D-SIBs to submit an Internal Capital Adequacy Assessment Process (ICAAP) document, which includes the recovery plan, annually every March 31.