On February 12, the Office of the Comptroller of the Currency (OCC) issued the “Country Risk Management” booklet of the Comptroller’s Handbook. This revised booklet replaces the booklet of the same title issued in March 2008. This booklet is prepared for use by OCC examiners in assessing a bank’s exposure to country risk and includes procedures to evaluate the adequacy of the bank’s country risk management framework. Country risk management topics include board and management oversight; policies and procedures; country exposure reporting system; country risk analysis process; country risk ratings; country exposure limits; monitoring country conditions; stress testing and integrated scenario planning; and independent risk management, internal controls, and audit.

The OCC’s booklet is available here.