Regulatory Alerts2020-03-19
Further Guidance on Lending, Operations, Borrowings and Other Real Estate
The Alabama State Banking Department issued this memorandum to provide regulatory guidance to state-chartered banks regarding operational and lending adjustments during the COVID-19 pandemic. The document encourages prudent customer engagement, strategic use of the Federal Reserve Discount Window for liquidity, and directs institutions to consolidated federal and state information resources. Additionally, it temporarily suspends mandatory write-downs for Other Real Estate held beyond five years and permits the reversal of 2020 write-downs to alleviate accounting burdens on banks.
Share