On July 29, the OCC released the “Corporate and Risk Governance” booklet to update, consolidate, and rescind various booklets in the Comptroller’s Handbook. The new booklet is intended to provide examiners with a summary of corporate and risk governance, related risks, the board’s and management’s respective roles and responsibilities in corporate and risk governance, and examination procedures. The new booklet identifies the following as the primary risk categories associated with corporate and risk governance: (i) strategic; (ii) reputation; (iii) compliance; and (iv) operational. The booklet advises banks to maintain corporate and risk governance structures and practices that align with their changes in size, risk profile, and complexity. According to the booklet, an effective corporate and risk governance framework is key to the safe and sound operation of a financial institution and stimulates public confidence in the financial system.