The COVID Project
The record
- Jurisdiction
- United States; OCC, Federal Reserve Board and FDIC (federal interagency)
- Level
- Federal
- Authority
- 12 U.S.C. § 3907; § 1831o
- Issued
- 2020-12-02 Dec. 2, 2020
- Effective
- 2020-12-02
- End
- 2021-12-31 (permits use of Dec. 31, 2019 assets for thresholds through 2021) (read as 2021-12-31)
- In force
- Dec. 2, 2020 to Dec. 31, 2021
- Quarters
- 2020 Q42021 Q12021 Q22021 Q3
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
- Limitation types
- Other
- Addressees
- community banking organizations with assets under $10 billion
- Functions reached
- OP regulatory reporting and compliance thresholds
- BL
- Collection
- Federal financial regulators AGY-FED-FINANCIAL
Operative words
[The agencies are] temporarily revising the instructions [so that institutions may use asset data as of] December 31, 2019, in order to [determine applicability of certain regulatory thresholds notwithstanding] temporary asset growth [from COVID-19-related programs].
Enforcement
12 C.F.R. parts 3, 217, 324 and related thresholds
Notes
The agencies' finding that PPP and stimulus deposits caused temporary balance-sheet growth 'in connection with COVID-19-related programs'; in force through 2021Q3
Retrieval noteFederal Register PDF read; bracketed words reconstruct column-garbled text.