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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

Financial Institution Letters

FIL-36-2020
April 7, 2020

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

Printable Format:

FIL-36-2020 - PDF (PDF Help)

Summary:

The FDIC, the Board of Governors of the Federal Reserve, the Office of the Comptroller of the Currency, the National Credit Union Administration, the Consumer Financial Protection Bureau, in consultation with state financial regulators, issued a revision to the Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus issued on March 22, 2020. The revised interagency statement encourages financial institutions to work constructively with borrowers impacted by the Coronavirus Disease 2019 (referred to as COVID-19), provides additional information regarding loan modifications, and clarifies the interaction between the interagency statement and related relief provided by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

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

Highlights:

As described in the revised interagency statement, the FDIC:

The revised interagency statement also:

FIL 22-2020, dated March 22, 2020, has been moved to inactive status.

Distribution:

Suggested Routing:

Related Topics:

Attachment:

Contact:

Note:

Access FDIC Financial Institution Letters (FILs) on the FDIC's website

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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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