FDIC

Regulators issue more guidance on banks' pandemic response

03/19/20

The agencies said banks could receive Community Reinvestment Act credit for activities addressing the virus fallout, and clarified earlier guidance encouraging banks to dip into their capital buffers.

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McWilliams urges FASB to halt CECL implementation

03/19/20

The FDIC chairman, citing concerns about the coronavirus outbreak, is the first regulatory chief to call for suspending the accounting standard for expected loan losses.

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Pandemic prompts FDIC to suspend staff buyouts

03/19/20

The voluntary agreements were meant to help the FDIC make staffing changes ahead of a wave of retirements. But concerns about the coronavirus means those plans will be put on hold.

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Will OCC plan silence some critics of bank M&A?

03/19/20

Groups often will oppose mergers on Community Reinvestment Act grounds. But the proposal would tighten standards for when the agency includes “adverse comments” in the process.

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ILC freeze breaks with federal approvals for Square, Nelnet

03/18/20

In signing off on deposit insurance for the payments giant and student loan servicer, the FDIC sanctioned the first new industrial loan companies in over a decade.

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Fed keeps trying to calm markets; Mortgage payment pause considered

03/18/20

The central bank made two more moves to keep credit flowing; the Housing Policy Council plan would halt mortgage payments during the COVID-19 crisis.

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FDIC nears decision on ILC bids as it floats new standards for charter

03/17/20

On the same day the Federal Deposit Insurance Corp. said it will soon rule on two applications, the agency also proposed benchmarks for all firms that want to own industrial loan companies.

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Lenders Encouraged to Work with Customers in Response to COVID-19 Challenges

03/17/20

The Federal Deposit Insurance Corporation (the “FDIC”) issued a statement on March 13, 2020, encouraging financial institutions to take prudent steps to assist customers and communities affected by the Coronavirus Disease 2019 (“COVID-19”).

The official announcement can be found here.

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Agencies encourage banks to use their capital to boost lending

03/17/20

Regulators issued a rule that gives banks the OK to dip into capital to help households and businesses cope with the economic impact of the coronavirus.

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How regulators can kick COVID-19’s bank shock into remission

03/17/20

There are several forbearance measures the agencies can take now to keep banks from failing in a downturn triggered by the coronavirus.

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