{"id":"AGY-FED-FINANCIAL-002","kind":"context","level":"federal","jurisdiction":"United States; Federal Reserve Board, FDIC, OCC, NCUA, CFPB and Conference of State Bank Supervisors (federal and State interagency)","state":"","metro":"","industry":"","agency":"FED-FINANCIAL","eco":"","issuer":"Federal Reserve Board, CFPB, FDIC, NCUA, OCC and CSBS","authority":"supervisory authority over insured depository institutions and credit unions","instrument":"Joint press release and statement of March 9, 2020","title":"Agencies encourage financial institutions to meet financial needs of customers and members affected by coronavirus","dateIssued":"2020-03-09","effective":"2020-03-09","end":"Not rescinded within the period","startDate":"2020-03-09","endDate":"2021-09-30","quarters":["2020Q2","2020Q3","2020Q4","2021Q1","2021Q2","2021Q3"],"types":["OTHER"],"addressees":["all supervised financial institutions"],"clause":"Federal financial institution regulators and state regulators today encouraged financial institutions to meet the financial needs of customers and members affected by the coronavirus.... Prudent efforts that are consistent with safe and sound lending practices should not be subject to examiner criticism.","enforcement":"Supervisory; examination treatment","functions":["CL consumer lending","BL business lending","SV servicing and accommodations","CB customer base"],"notes":"First interagency instruction of the pandemic on customer accommodations; the premise of the loan-modification statements that followed","sourceUrl":"https://www.federalreserve.gov/newsevents/pressreleases/bcreg20200309a.htm","snapshot":"http://web.archive.org/web/20200310152929/https://www.federalreserve.gov/newsevents/pressreleases/bcreg20200309a.htm","fileExists":true,"fileBytes":145491,"grade":"primary","character":"context","description":"","collection":"AGY-FED-FINANCIAL","url":"/library/AGY-FED-FINANCIAL-002","exhibitUrl":"/exhibit/AGY-FED-FINANCIAL-002","citation":"Federal Reserve Board, CFPB, FDIC, NCUA, OCC and CSBS, Joint press release and statement of March 9, 2020 (Mar. 9, 2020) (Ex. AGY-FED-FINANCIAL-002)","stateName":"","related":["AGY-ST-INSURANCE-BANKING-067"]}