DSCA Policy Memo 24-86, Updates for Standby Letter of Credit Change Guidance in the Security Assistance Management Manual (SAMM) Chapter 9 has been posted.

Effective immediately, this memorandum updates the Standby Letter of Credit Policy in the SAMM Chapter 9. The new policy expands eligible bank requirements for the issuance of Standby Letters of Credit (SBLC) and clarifies the circumstances under which a foreign partner may use a foreign bank as an issuing bank. Moreover, the policy updates confirming bank requirements to be consistent with changes to the issuing bank requirements.

This memo updates:

• C9.9.1.5.4.5.2.4.1. Eligibility Requirements for Issuing Bank.
• C9.9.1.5.4.1.1. Standby Letter of Credit.
• C9.9.1.5.4.5.2.4.2. Bank Credit Rating.
• C9.9.1.5.4.5.2.4.2.1.
• C9.9.1.5.4.5.2.4.3. Eligibility Requirements for the Confirming Bank.