{"id":"AGY-FED-FINANCIAL-022","kind":"context","level":"federal","jurisdiction":"United States; Federal Reserve Board, FDIC, NCUA, OCC and State regulators (federal interagency)","state":"","metro":"","industry":"","agency":"FED-FINANCIAL","eco":"","issuer":"Board of Governors (SR 20-15), FDIC (FIL-64-2020), NCUA, OCC (Bulletin 2020-64) and CSBS","authority":"examination authority cited","instrument":"Interagency Examiner Guidance for Assessing Safety and Soundness Considering the Effect of the COVID-19 Pandemic on Institutions","title":"Interagency Examiner Guidance for Assessing Safety and Soundness Considering the Effect of the COVID-19 Pandemic on Institutions","dateIssued":"2020-06-23","effective":"2020-06-23","end":"Not rescinded within the period","startDate":"2020-06-23","endDate":"2021-09-30","quarters":["2020Q2","2020Q3","2020Q4","2021Q1","2021Q2","2021Q3"],"types":["OTHER"],"addressees":["examiners and supervised institutions"],"clause":"Examiners will consider the unique, evolving, and potentially long-term nature of the issues confronting institutions and exercise appropriate flexibility in their supervisory response.... Examiners should assess the reasonableness of management\u0027s actions in response to the pandemic given the institution\u0027s business strategy and operational capacity in the distressed economic and business environment in which the institution operates.","enforcement":"Examination ratings and supervisory response","functions":["OP","SV","CL","BL","CB"],"notes":"The agencies\u0027 own characterization of the \u0027distressed economic and business environment\u0027 of mid-2020 and its \u0027potentially long-term nature\u0027","sourceUrl":"https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20200623a1.pdf","snapshot":"","fileExists":true,"fileBytes":97956,"grade":"primary","character":"context","description":"","collection":"AGY-FED-FINANCIAL","url":"/library/AGY-FED-FINANCIAL-022","exhibitUrl":"/exhibit/AGY-FED-FINANCIAL-022","citation":"Board of Governors (SR 20-15), FDIC (FIL-64-2020), NCUA, OCC (Bulletin 2020-64) and CSBS, Interagency Examiner Guidance for Assessing Safety and Soundness Considering the Effect of the COVID-19 Pandemic on Institutions (June 23, 2020) (Ex. AGY-FED-FINANCIAL-022)","stateName":"","related":[]}