Summary:
The FDIC, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the National Credit Union Administration (the agencies), as well as the Conference of State Bank Supervisors will host a webinar for bankers on Thursday, September 3, 2020 from 3:00 p.m. to 4:00 p.m., Eastern Daylight Time to discuss the loan forgiveness process and recent changes in the Paycheck Protection Program (PPP). This session represents the rescheduling of the postponed August 27th session. The PPP was established by the CARES Act and implemented by the Small Business Administration (SBA) with support from the U.S. Department of the Treasury.
A link to preregister can be found below.
Statement of Applicability to Institutions with Total Assets Under $1 Billion: This Financial Institution Letter (FIL) applies to all FDIC-supervised institutions.
Highlights:
- SBA officials will provide an overview of recent changes to the PPP, including loan forgiveness.
- This webinar is for financial institutions that have participated in the PPP. Participants are encouraged to email questions in advance to asktheregulators@stls.frb.org.
- Participants, including those who registered for the August 27, 2020 session, must preregister for the event.
- To accommodate the participation of as many financial institutions as possible, we ask each institution to register no more than two representatives to attend the live session.
- Webinar materials will be archived at www.askthefed.org in the "All Calls" tab and can be accessed a few hours after the webinar ends.
- Other resources for bankers include:
- The FDIC Coronavirus Webpage, which contains related guidance, announcements, and resources for financial institutions and consumers;
- The FDIC Coronavirus Small Business Lender Webpage, which contains guidance, announcements, and resources for financial institutions on small business initiatives;
- The SBA's PPP Webpage; and
- The U.S. Department of the Treasury's Assistance for Small Businesses Webpage.
Distribution:
FDIC-Supervised Institutions
Suggested Routing:
Chief Executive Officer
Chief Financial Officer
Chief Credit Officer
Board of Directors
Related Topics
SBA and Treasury Programs Available for Small Business Relief