On September 30, the OCC issued version 3.0 of the “Concentrations of Credit” booklet of the Comptroller’s Handbook, replacing version 2.0 and rescinding OCC Bulletin 2020-90, which had transmitted the prior version (previously covered by InfoBytes here). According to the OCC, the revised booklet keeps the existing definition of a concentration as the sum of direct, indirect, or contingent obligations exceeding 25 percent of a bank’s tier 1 capital plus the allowance for credit losses. Additionally, the booklet has been reorganized, includes a more comprehensive discussion of concentration risks, and clarifies the range of practices for banks of different sizes, complexities, and risk profiles, as well as risk management practices for determining aggregate risk. In a note for community banks, the OCC stated that the booklet applies to banks of all sizes and that examiners determine which expanded procedures, if any, to use based on risk.