The COVID Project
Context, not an orderThis record is guidance or an announcement kept for context. It is not counted among the orders in force.
The record
- Jurisdiction
- United States; Board of Governors of the Federal Reserve System (federal)
- Level
- Federal
- Authority
- 12 U.S.C. § 248(a), § 325
- Issued
- 2020-03-13 Mar. 13, 2020
- Effective
- 2020-03-13
- End
- Superseded in part by SR 20-15 (June 23, 2020); remained in force through 2021Q3 (read as 2020-06-23)
- In force
- Mar. 13, 2020 to June 23, 2020
- Quarters
- 2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
- Limitation types
- Business closureOther
- Addressees
- State member banks
- bank holding companies
- savings and loan holding companies
- Reserve Bank supervisory staff
- Functions reached
- BR branches (temporary closures recognized)
- SV loan accommodations
- OP regulatory reporting
- CB
- Character
- context
- Collection
- Federal financial regulators AGY-FED-FINANCIAL
Operative words
Supervisory Practices Regarding Financial Institutions Affected by Coronavirus [SR 20-4 / CA 20-3, March 13, 2020]... [addressed] to the officer in charge of supervision at each Federal Reserve Bank and to supervised financial institutions in their districts, as well as to their supervisory and examination staff.
Enforcement
Supervisory letter; examination treatment under 12 U.S.C. § 1818
Notes
Companion to OCC Bulletin 2020-15 and FDIC FIL-17-2020 of the same day; the Board's statement that examiners will not criticize prudent accommodations and that temporary facility closures and reporting delays would be accommodated
Retrieval noteRendered from the Board's live page; the body text on accommodations parallels Exs. 004 and 005 verbatim. Cite it as context and cite the underlying order, statute or emergency rule it describes as the instrument. (Bulletins whose operative text imposes a mandatory duty on licensees under the regulator's own authority are excluded from this downgrade and listed separately for review.)).