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Financial Institution Letter |
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Additional Loan Accommodations Related to COVID-19 Event |
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Summary
The Federal Financial Institutions Examination Council (FFIEC) on behalf of its members issued a statement to provide prudent risk management and consumer protection principles for financial institutions to consider while working with borrowers as loans near the end of the initial loan accommodation periods provided during the Coronavirus Disease 2019 (COVID-19 event). The statement also addresses issues relative to accounting and regulatory reporting and internal control systems.
The Interagency Statement on Additional Loan Accommodations Related to COVID-19 Event can be found on the FDIC’s website.
Statement of Applicability to Institutions Under $1 Billion in Total Assets
This Financial Institution Letter (FIL) applies to all FDIC-supervised institutions.
Distribution
FDIC-Supervised Institutions.
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