The OCC today issued an update to the “Installment Lending” section of its Comptroller’s Handbook. The revisions include updated administrative and assessment guidance associated with installment lending activities and risk management. It also rescinds an earlier OCC bulletin on retail lending interim examination procedures.
The OCC also updated the “Country Risk Management” portion of the Handbook, providing revised guidance and examination procedures. The revisions include a more in-depth discussion of the effects of country risk, cross-border risk and sovereign risk, an internal control questionnaire and glossary and an expanded sample request letter. Additionally, it incorporates lessons learned from both the financial crisis and European debt crisis.