|October 06-12, 2019
DSCA Policy Memo 19-16 Standby Letter of Credit has been posted.
This memorandum provides notification of the attached updated to Chapter 9 of the SAMM pertaining to Standby Letters of Credit (SBLCs). This SAMM update clarifies and standardizes how Standby Letters of Credit (SBLCs) are approved, established, managed, and terminated by updating the SAMM Section on Standby Letters of Credit. This policy update also expands the category of banks that are eligible to issue SBLCs under DSCA’s SBLC program to include U.S.-based foreign banks that hold a Federal License from the Office of the Comptroller of the Currency (OCC) and meet the outlined eligibility criteria.
This memo updates C18.104.22.168.4. Standby Letter of Credit (SBLC) (and subsections), inserts several tables, and insert a new figure Figure C9.F5. - MOU Template for SBLC into the chapter.