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Guidance.pdf

nr-ia-2020-39a.pdf
Preview of guidance
🔗 Source: occ.gov
📊 Size: 51 KB
👤 Author: Federal Banking Agencies
⬇️ Downloads: 111

Summary

The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, Consumer Financial Protection Bureau, and Conference of State Bank Supervisors issued an interagency statement on March 22, 2020, to provide guidance to financial institutions working with borrowers affected by the Coronavirus Disease 2019 (COVID-19). The agencies encourage financial institutions to work prudently with borrowers who are or may be unable to meet their contractual payment obligations due to COVID-19, and will not criticize institutions for working with borrowers or direct them to automatically categorize COVID-19 related loan modifications as troubled debt restructurings (TDRs). The statement also provides guidance on accounting for loan modifications, past due reporting, nonaccrual status and charge-offs, and discount window eligibility.

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Description

The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of...

Technical Information

  • File Format: PDF
  • File Size: 51 KB
  • Pages: 3
  • Language: EN
  • Author: Federal Banking Agencies
  • Total Downloads: 111
  • Last Updated: 1 week ago

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