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To: Chief Executives of All National Banks and Federal Savings Associations, Federal Branches and Agencies of Foreign Banks, Department and Division Heads, All Examining Personnel, and Other Interested Parties

Description: Revised Comptroller's Handbook Booklet and Rescissions


The Office of the Comptroller of the Currency (OCC) issued today the “Trade Finance and Services” booklet of the Comptroller's Handbook. This revised booklet replaces the “Trade Finance” and “Bankers’ Acceptances” booklets, issued in November 1998 and September 1999, respectively. This revised booklet also replaces section 215, “Letters of Credit,” issued in January 1994 as part of the former Office of Thrift Supervision’s Examination Handbook for examining federal savings associations.

Note for Community Banks

This booklet applies to examinations of all national banks and federal savings associations engaged in trade finance and services.


The “Trade Finance and Services” booklet provides

  • updated examination procedures for examiners concerning trade finance and services activities.
  • highlights of the types of products that national banks and federal savings associations may offer in their trade finance and services business lines.
  • information on the risks associated with trade finance and services and supervisory expectations for risk management.


The OCC’s “Trade Finance and Services” booklet provides a comprehensive update of information and combines national bank and federal savings association examination procedures. The booklet expands on the types of trade finance and services activities and associated risks, updates statutory or regulatory requirements, and tailors the expanded risk-based examination procedures based on functions. The booklet’s appendixes provide additional information on trade finance and service products, relevant legislation, and accounting practices. Standby letters of credit, addressed in the OCC’s “Trade Finance” booklet of November 1998, will be discussed in further detail in the forthcoming “Commercial Lending” booklet.

The issuance of this booklet makes applicable to federal savings associations OCC Bulletin 2009-8, “Country Risk: Changes to the Interagency Country Exposure Review Committee Process.”

For further information, contact International Banking Supervision at (202) 649-6210.


Martin Pfinsgraff
Senior Deputy Comptroller for Large Bank Supervision

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