{"id":"AGY-FED-FINANCIAL-023","kind":"context","level":"federal","jurisdiction":"United States; FFIEC members (Federal Reserve Board, FDIC, NCUA, OCC, CFPB, State Liaison Committee) (federal interagency)","state":"","metro":"","industry":"","agency":"FED-FINANCIAL","eco":"","issuer":"FFIEC on behalf of its members (FDIC FIL-74-2020; OCC Bulletin 2020-72)","authority":"12 U.S.C. § 3305","instrument":"Joint Statement on Additional Loan Accommodations Related to COVID-19","title":"Joint Statement on Additional Loan Accommodations Related to COVID-19","dateIssued":"2020-08-03","effective":"2020-08-03","end":"Not rescinded within the period","startDate":"2020-08-03","endDate":"2021-09-30","quarters":["2020Q3","2020Q4","2021Q1","2021Q2","2021Q3"],"types":["OTHER"],"addressees":["financial institutions"],"clause":"[This statement sets out] prudent risk management and consumer protection principles for financial institutions to consider while working with borrowers as loans near the end of the initial loan accommodation periods provided during the [COVID-19 event].... FFIEC members encourage financial institutions to consider prudent accommodation options that can ease cash flow pressures on affected borrowers.","enforcement":"Supervisory","functions":["SV servicing and second-round accommodations","CL","ML","BL","CB"],"notes":"Evidence that in August 2020 the regulators expected a second round of accommodations because the first-round periods were ending while the orders continued","sourceUrl":"https://www.fdic.gov/news/financial-institution-letters/2020/fil20074.html","snapshot":"http://web.archive.org/web/20200921202001/https://www.fdic.gov/news/financial-institution-letters/2020/fil20074.html","fileExists":true,"fileBytes":167415,"grade":"primary","character":"context","description":"","collection":"AGY-FED-FINANCIAL","url":"/library/AGY-FED-FINANCIAL-023","exhibitUrl":"/exhibit/AGY-FED-FINANCIAL-023","citation":"FFIEC on behalf of its members (FDIC FIL-74-2020; OCC Bulletin 2020-72), Joint Statement on Additional Loan Accommodations Related to COVID-19 (Aug. 3, 2020) (Ex. AGY-FED-FINANCIAL-023)","stateName":"","related":[]}