On March 27, the OCC issued the Asset-Based Lending (ABL) booklet, which is new to the Comptroller’s Handbook. The booklet provides guidance to examiners and bankers on ABL activities and risks, prudent credit risk management and underwriting expectations, credit administration, and credit risk rating. It also provides risk-based expanded examination procedures related to structures, credit analysis, evaluating borrower liquidity, establishing a borrowing base and prudent advance rates, collateral controls and monitoring systems, and credit risk rating considerations. The booklet further includes transaction examples to assist with the assessment of credit risk.