The OCC today updated its Comptroller’s Handbook with a revised booklet on oil and gas exploration and production lending. The update guidance provides more detailed guidance on prudent risk management practices for banks making these types of loans and outlines regulatory expectations, with special attention to lending for upstream oil and gas businesses.
SBA reinstates stronger underwriting requirements for 7(a) loans
The Small Business Administration has reinstated stronger underwriting requirements for 7(a) loans through the issuance of a Standard Operating Procedure document.