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OCC Bulletin 2014-40 | August 12, 2014

Lease Financing: Comptroller's Handbook Revision and Rescission


Chief Executive Officers of All National Banks and Federal Savings Associations, Department and Division Heads, All Examining Personnel, and Other Interested Parties


The Office of the Comptroller of the Currency (OCC) issued today the “Lease Financing” booklet of the Comptroller’s Handbook. This updated booklet replaces a similarly titled booklet issued in January 1998. This booklet also replaces section 219, “Leasing Activities,” issued in June 1999 as part of the Office of Thrift Supervision’s (OTS) Examination Handbook for the examination of federal savings associations.

This booklet provides an overview of the leasing business, its associated risks, and sound risk management processes. It also provides examiners with expanded examination procedures and other tools that can be utilized in supervisory activities that target this type of financing.


The OCC’s “Lease Financing” booklet

  • provides an overview of the leasing business, including the legal framework for leasing, a description of various lease types, and accounting and financial reporting requirements.
  • describes the risks associated with lease financing, sound risk management processes, and regulatory risk rating guidelines.
  • discusses the commonality and differences in the laws and regulations unique to national banks and federal savings associations and among the various types of lease financing products.
  • has an expanded examination procedures section that includes an internal control questionnaire and verification procedures.

Note for Community Banks

The principles contained in this booklet apply to national banks and federal savings associations engaging in lease financing.

With the issuance of this booklet, the following publication has been rescinded:

  • OTS Examination Handbook, section 219, “Leasing Activities” (June 1999)

For further information, contact Grant Wilson, Director for Commercial Credit Risk, at (202) 649-6432.

Jennifer C. Kelly
Senior Deputy Comptroller and Chief National Bank Examiner

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