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; Federal Deposit Insurance Corporation (federal)
- Level
- Federal
- Authority
- 12 U.S.C. § 1819(a) Tenth
- Issued
- 2020-03-13 Mar. 13, 2020
- Effective
- 2020-03-13 (updated periodically through 2020) (read as 2020-03-13)
- End
- Not rescinded within the period (read as 2021-09-30)
- In force
- Mar. 13, 2020 to Sept. 30, 2021
- Quarters
- 2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
- Limitation types
- Business closureOther
- Addressees
- FDIC-supervised institutions
- Functions reached
- BR branches and lobbies (closure; drive-through only)
- AT drive-up
- ML mortgage lending (appraisal and evaluation flexibility)
- SV servicing (TDR treatment)
- OP reporting
- Character
- context
- Collection
- Federal financial regulators AGY-FED-FINANCIAL
Operative words
[Are institutions required] to file applications for temporary office closures? No. The FDIC does not require an application to temporarily close a facility due to staffing challenges or to take precautionary measures. For example, some institutions may wish to limit foot traffic within a branch and provide services only through the drive-through lanes.
Enforcement
Supervisory FAQ; 12 U.S.C. § 1818
Notes
The FDIC's own description of the lobby-closure and drive-through-only operating model that State stay-home orders produced; also addresses CRA credit for branch closures and alternative delivery systems
Retrieval noteLive PDF (current revision) read; the closure Q&A quoted.