Regulatory Alerts2020-08-03
SR 20-18: Joint Statement on Additional Loan Accommodations Related to COVID-19
The Federal Reserve and other FFIEC members issued a joint statement providing risk management principles for institutions managing loans near the end of initial COVID-19 accommodation periods. The guidance encourages financial institutions to consider prudent accommodation options that ease cash flow pressures on borrowers while facilitating loan collection and safe credit restructuring. This letter directs Reserve Banks to distribute the attached statement to supervised organizations and appropriate supervisory staff within their districts.
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