Joint Developments

Joint News Release (June 23, 2020) Federal and State Regulatory Agencies Issue Examiner Guidance for Assessing Safety and Soundness Considering the Effect of the COVID-19 Pandemic on Financial Institutions (PDF)   Joint News Release (June 23, 2020) Federal and State Regulatory Agencies Issue Examiner Guidance for Assessing Safety and Soundness Considering the Effect of the COVID-19 Pandemic on Financial Institutions

Guidance (PDF)   Guidance

Joint News Release (May 23, 2020) Committee Holds Bipartisan Virtual Roundtable on Impact of COVID-19 on Housing Markets (PDF)   Joint News Release (May 23, 2020) Committee Holds Bipartisan Virtual Roundtable on Impact of COVID-19 on Housing Markets

Joint News Release (May 20, 2020) Federal Agencies Share Principles for Offering Responsible Small-Dollar Loans (PDF)   Joint News Release (May 20, 2020) Federal Agencies Share Principles for Offering Responsible Small-Dollar Loans

Interagency Lending Principles (PDF)   Interagency Lending Principles

Fact Sheet (PDF)   Fact Sheet

Joint News Release (May 12, 2020) CFPB, FHFA, & HUD Launch Joint Mortgage and Housing Assistance Website for Americans Impacted by COVID-19 (PDF)   Joint News Release (May 12, 2020) CFPB, FHFA, & HUD Launch Joint Mortgage and Housing Assistance Website for Americans Impacted by COVID-19

Joint News Release (April 14, 2020) Federal Banking Agencies to Defer Appraisals and Evaluations for Real Estate Transactions Affected by COVID-19 (PDF)   Joint News Release (April 14, 2020) Federal Banking Agencies to Defer Appraisals and Evaluations for Real Estate Transactions Affected by COVID-19

Interagency Statement (PDF)   Interagency Statement

Action: Interim final rule with request for comments. Agency: Office of the Comptroller of the Currency, Treasury (OCC); Board of Governors of the Federal Reserve System (Board); and the Federal Deposit Insurance Corporation (FDIC). Real Estate Appraisals 85 FR 21312 Published April 17, 2020. Effective April 17, 2020 through December 31, 2020. Comments due June 1, 2020. (PDF)   Action: Interim final rule with request for comments. Agency: Office of the Comptroller of the Currency, Treasury (OCC); Board of Governors of the Federal Reserve System (Board); and the Federal Deposit Insurance Corporation (FDIC). Real Estate Appraisals 85 FR 21312 Published April 17, 2020. Effective April 17, 2020 through December 31, 2020. Comments due June 1, 2020.

Joint News Release (April 9, 2020) Federal Bank Regulators Issue Interim Final Rule for Paycheck Protection Program Facility (PDF)   Joint News Release (April 9, 2020) Federal Bank Regulators Issue Interim Final Rule for Paycheck Protection Program Facility

Action: Interim final rule; request for comment. Agency: Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and Federal Deposit Insurance Corporation (FDIC). Regulatory Capital Rule: Paycheck Protection Program Lending Facility and Paycheck Protection Program Loans 85 FR 20387 Published April 13, 2020. Interim final rule effective April 13, 2020. Comments due May 13, 2020. (PDF)   Action: Interim final rule; request for comment. Agency: Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and Federal Deposit Insurance Corporation (FDIC). Regulatory Capital Rule: Paycheck Protection Program Lending Facility and Paycheck Protection Program Loans 85 FR 20387 Published April 13, 2020. Interim final rule effective April 13, 2020. Comments due May 13, 2020.

Joint News Release (April 7, 2020) Agencies Issue Revised Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus (PDF)   Joint News Release (April 7, 2020) Agencies Issue Revised Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus

Revised Interagency Statement (PDF)   Revised Interagency Statement

FIL-46-2020 (April 16, 2020) Banker Webinar: Revised Statement on Loan Modifications and Reporting for Institutions Working with Customers Affected by the Coronavirus (PDF)   FIL-46-2020 (April 16, 2020) Banker Webinar: Revised Statement on Loan Modifications and Reporting for Institutions Working with Customers Affected by the Coronavirus

Joint News Release (April 3, 2020) Federal Agencies Encourage Mortgage Servicers to Work With Struggling Homeowners Affected by COVID-19 (PDF)   Joint News Release (April 3, 2020) Federal Agencies Encourage Mortgage Servicers to Work With Struggling Homeowners Affected by COVID-19

Joint Statement (PDF)   Joint Statement

Joint News Release (March 27, 2020) Agencies Announce Two Actions to Support Lending to Households and Businesses (PDF)   Joint News Release (March 27, 2020) Agencies Announce Two Actions to Support Lending to Households and Businesses

Standardized Approach Notice (PDF)   Standardized Approach Notice

Current Expected Credit Loss Notice (PDF)   Current Expected Credit Loss Notice

Joint News Release (March 26, 2020) Federal Agencies Encourage Banks, Savings Associations, and Credit Unions to Offer Responsible Small-Dollar Loans to Consumers and Small Businesses Affected by COVID-19 (PDF)   Joint News Release (March 26, 2020) Federal Agencies Encourage Banks, Savings Associations, and Credit Unions to Offer Responsible Small-Dollar Loans to Consumers and Small Businesses Affected by COVID-19

Interagency Statement (PDF)   Interagency Statement

Joint News Release (March 22, 2020) Agencies Provide Additional Information to Encourage Financial Institutions to Work with Borrowers Affected by COVID-19 (PDF)   Joint News Release (March 22, 2020) Agencies Provide Additional Information to Encourage Financial Institutions to Work with Borrowers Affected by COVID-19

Interagency Statement (PDF)   Interagency Statement

Joint News Release (March 19, 2020) Federal Bank Regulatory Agencies Issue Interim Final Rule for Money Market Liquidity Facility (PDF)   Joint News Release (March 19, 2020) Federal Bank Regulatory Agencies Issue Interim Final Rule for Money Market Liquidity Facility

Action: Interim final rule and request for comment. Agency: Board of Governors of the Federal Reserve System (Board), Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corporation (FDIC). Regulatory Capital Rule: Money Market Mutual Fund Liquidity Facility 85 FR 16235 Published March 23, 2020. Interim final rule effective March 23, 2020 and comments due May 7, 2020. (PDF)   Action: Interim final rule and request for comment. Agency: Board of Governors of the Federal Reserve System (Board), Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corporation (FDIC). Regulatory Capital Rule: Money Market Mutual Fund Liquidity Facility 85 FR 16235 Published March 23, 2020. Interim final rule effective March 23, 2020 and comments due May 7, 2020.

Joint News Release (March 17, 2020) Federal Banking Agencies Provide Banks Additional Flexibility to Support Households and Businesses (PDF)   Joint News Release (March 17, 2020) Federal Banking Agencies Provide Banks Additional Flexibility to Support Households and Businesses

Statement on the Use of Capital and Liquidity Buffers (PDF)   Statement on the Use of Capital and Liquidity Buffers

Interim Final Rule (PDF)   Interim Final Rule

OCC Bulletin 2020-17 (March 19, 2020) Pandemic Planning: Joint Questions and Answers Regarding Statement About the Use of Capital and Liquidity Buffers (PDF)   OCC Bulletin 2020-17 (March 19, 2020) Pandemic Planning: Joint Questions and Answers Regarding Statement About the Use of Capital and Liquidity Buffers

Q&As (PDF)   Q&As

Joint Release (March 9, 2020) Agencies Encourage Financial Institutions to Meet Financial Needs of Customers and Members Affected by Coronavirus (PDF)   Joint Release (March 9, 2020) Agencies Encourage Financial Institutions to Meet Financial Needs of Customers and Members Affected by Coronavirus

Interagency Statement on Pandemic Planning (March 6, 2020) (PDF)   Interagency Statement on Pandemic Planning (March 6, 2020)

FFEIC News Release (PDF)   FFEIC News Release

FIL-14-2020 (PDF)   FIL-14-2020

As you know, state and federal executives, agencies and legislatures are reviewing data and circumstances every day and adjusting their responses to the pandemic all the time. We are monitoring for changes and developments and will post updates to this resource as we find them. Please check back regularly. We will also send alerts as certain critical developments unfold. If you are not signed up for Hudson Cook, LLP insights and would like to receive alerts, please sign up here.

Please note that the information here is not legal advice and does not create an attorney-client relationship. If you need legal assistance with a specific matter, please contact legal counsel.