Several years ago, I worked for a bank that approved lines of credit to foreign banks, specifically those in Central and South America.
When the Fed came in and performed their annual safety and soundness exam, one of their comments was that the bank needed to perform country risk analyses, since it had potential exposure in foreign countries.
We asked how to get these analyses and they said the Fed has them. However, when we called to request a copy of these reports, the individual said they could not release that information directly to the banks!!
The bank finally prepared a country risk exposure analysis on its own, using the Latin America Monitor (I think that's the name.) as a basis. The analysis included the political and economical background of the country and the stability of its government. In short, it was a determination by the bank of whether the loan would be repaid, based upon the existing climate in a particular country. The bank would then approve a limit on the dollar amount of loans that would be permitted to that country. This limit would be monitored and increases in the country limits would be approved by the Credit Committee/BOD.
Sorry, I can't recall anymore specific information, but unless your loan exposure is laden with foreign businesses, financial institutions and politicos, the Fed's request to perform a country risk management analysis seems a bit overboard.
This is only my humble opinion. I'm not an attorney giving you legal advice or any of that other stuff.