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  3. SEC-13-004

Ex. SEC-13-004 Order Confirmed from a secondary source

FIL-17-2020

Regulatory Relief: Working with Customers Affected by the Coronavirus

Federal Deposit Insurance Corporation · United States (Federal)

Source (opens in a new tab)
The COVID Project

The record

Jurisdiction
United States
Level
Federal
Authority
Financial Institution Letter (supervisory guidance)
Issued
2020-03-13 Mar. 13, 2020
Effective
2020-03-13
End
n/a (read as 2021-09-30)
In force
Mar. 13, 2020 to Sept. 30, 2021
Quarters
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
Limitation types
Other
Addressees
  • FDIC-supervised institutions
Functions reached
  • SV
  • BR (temporary facility closures)
  • BL
  • CL
Collection
Financial Services SEC-13

Operative words

[FDIC encourages institutions to] work with all borrowers, especially borrowers from industry sectors particularly vulnerable to the volatility in the current economic environment... A financial institution's prudent efforts to modify the terms on existing loans for affected customers will not be subject to examiner criticism... [the FDIC] will act expeditiously if institutions need to temporarily close facilities.

Enforcement

Supervisory; guidance

Notes

Text read through a fetched summary of the FDIC page; the page could not be rendered to PDF (fdic.gov blocks headless rendering).

Retrieval note

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A record of The COVID Project. The instrument's text is the source's; the summary fields are The COVID Project's reading of it. Not legal advice.