Risks and risk management practices associated with lease financing are outlined in a revised booklet issued Wednesday by the national bank regulator; the publication also provides bank examiners with a framework for evaluating a bank’s lease financing activities, the agency said.
The Office of the Comptroller of the Currency (OCC) said its version 2.0 of the “Lease Financing” booklet of the Comptroller’s Handbook replaces version 1.2 of the booklet with the same title issued in January 2017. The agency said also rescinded is its Bulletin 2014-40, “Lease Financing: Comptroller’s Handbook Revision and Rescission,” which transmitted version 1.0 of the booklet in August 2014.
Key updates in the booklet, the OCC said, include:
- Changes to lease accounting standards since this booklet was last updated.
- Clarifying edits regarding supervisory guidance, sound risk management practices, and legal language.
- Revisions of certain content for general clarity.
OCC Bulletin 2023-30: Lease Financing: Revised Comptroller’s Handbook Booklet and Rescissions