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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Since 1933, no depositor has lost a penny of FDIC-insured funds

Inactive Financial Institution Letters

March 22, 2020

Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus

Printable Format:

FIL-22-2020 - PDF (PDF Help)


The FDIC, the Board of Governors of the Federal Reserve System (FRB), the Office of the Comptroller of the Currency, the National Credit Union Administration, the state banking regulators, and the Consumer Financial Protection Bureau issued the Interagency Statement on Loan Modifications and Reporting by Financial Institutions Working with Customers Affected by the Coronavirus to encourage financial institutions to work constructively with borrowers impacted by the Coronavirus Disease 2019 (referred to as COVID-19) and provide additional information regarding loan modifications.

Statement of Applicability to Institutions with Total Assets under $1 Billion: This Financial Institution Letter (FIL) applies to all FDIC-supervised institutions.


As described in the interagency statement, the FDIC:

The interagency statement also provides supervisory views on regulatory reporting of past due and nonaccrual status for loan modification programs whereby past due status should be based on the due date stipulated in the legal loan documents as modified within such modification program. Additionally, the interagency statement reminds institutions that loans that have been restructured as described under the statement will continue to be eligible as collateral at the FRB's discount window based on the usual criteria.


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Paper copies may be obtained via the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200).

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