IV Corrective Action: Common Features
  • 1 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund

Abstract

In defining the authority of the regulator to order corrective action, most laws use permissive language and provide that the regulator may order the bank to take corrective measures. Some provisions of banking law, however, use mandatory language in providing remedial authority, requiring the regulator to take corrective action whenever a particular infraction has occurred and is continuing or a level of noncompliance described in the law has been reached.124