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Financial Institution Letter

Banker Webinar: Revised Statement on Loan Modifications and Reporting for Institutions Working with Customers Affected by the Coronavirus

April 16, 2020
Notes
 

Summary:

The FDIC, Board of Governors of the Federal Reserve, Office of the Comptroller of the Currency, and National Credit Union Administration (the agencies) will host a webinar for bankers on Friday, April 24, 2020, from 3:00 to 4:00 p.m. Eastern Daylight Time (EDT) to discuss the revised Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus . The webinar will address accounting and regulatory reporting questions and clarify the interaction between current accounting principles and Section 4013 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) .

Statement of Applicability to Institutions with Total Assets under $1 Billion: This Financial Institution Letter (FIL) applies to all FDIC-supervised institutions.

Highlights:

  • The interagency webinar for bankers will address accounting and regulatory reporting considerations of the revised interagency statement issued on April 7, 2020, to include:
    • Clarifying the interaction between current accounting principles and Section 4013 of the CARES Act;
    • Supervisory considerations on past-due and nonaccrual regulatory reporting; and
    • Regulatory capital considerations.
  • Participants should preregister for the event at https://www.webcaster4.com/Webcast/Page/583/34317 .
  • To accommodate the participation of as many financial institutions as possible, we ask each institution register no more than two representatives to attend the live session.
  • Participants are encouraged to email questions in advance to asktheregulators@stls.frb.org .
  • Webinar materials will be archived for future viewing and can be accessed after the webinar at the registration link.

Suggested Distribution:

FDIC-Supervised Institutions

Suggested Routing:

Chief Executive Officer
Chief Financial Officer
Chief Credit Officer
Board of Directors

Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).

FIL-46-2020
Attachment(s)
FIL-36-2020, Revised Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus

Last Updated: April 16, 2020