On September 13, the OCC issued a new Problem Bank Supervision booklet of the Comptroller's Handbook to be used by examiners in connection with the examination and supervision of national banks, federal savings associations, and federal branches and agencies of foreign banking organizations. The booklet—the central reference for the OCC's problem bank supervision policy—describes the OCC’s approach to timely identification and rehabilitation of problem banks and replaces previously-issued guidance. Among other things, the booklet (i) discusses red flags that can indicate a potential problem bank; (ii) details the supervisory and enforcement approaches the OCC can take to rehabilitate a problem bank; (iii) provides a comprehensive discussion of the agency’s authority under 12 CFR 6, “Prompt Corrective Action”; and (iv) explains the process for problem bank resolution, including receivership. The booklet complements other Comptroller’s Handbook booklets as well as topical OCC and interagency issuances. The OCC also notes that the booklet “should be supplemented with appropriate examiner consultation with the supervisory office, subject matter experts, Licensing Division staff, and OCC legal counsel.”