{"id":"AGY-ST-INSURANCE-BANKING-068","kind":"context","level":"sector-regulator","jurisdiction":"Alabama; State Banking Department","state":"AL","metro":"","industry":"","agency":"ST-INSURANCE-BANKING","eco":"","issuer":"Mike Hill, Superintendent of Banks","authority":"Ala. Code § 5-2A-8","instrument":"Further Guidance on COVID-19 - Lending, Operations, Borrowing, and ORE (March 19, 2020)","title":"Further Guidance on COVID-19 - Lending, Operations, Borrowing, and ORE","dateIssued":"2020-03-19","effective":"2020-03-19","end":"Not rescinded","startDate":"2020-03-19","endDate":"2021-09-30","quarters":["2020Q2","2020Q3","2020Q4","2021Q1","2021Q2","2021Q3"],"types":["OTHER","EMP"],"addressees":["Alabama-chartered banks"],"clause":"The Alabama State Banking Department (Department) continues to closely monitor developments [and recognizes] that there are a lot of questions regarding banks working with borrowers and operational issues. This [guidance addresses those questions.] On March 19, 2020, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter (FIL-18-2020) that includes the document \u0027Frequently Asked Questions for Financial Institutions [Affected by the Coronavirus Disease 2019]\u0027... [addressing] questions bankers have been asking about working with borrowers and operational issues.","enforcement":"Supervisory","functions":["BL business lending and loan modifications","BR operations (temporary closures and alternative service per the adopted FDIC FAQ)","SV servicing","OP"],"notes":"Adopts for Alabama State banks the FDIC\u0027s FAQ (Ex. AGY-FED-FINANCIAL-006), which authorizes temporary branch closures on notice and remote operation.","sourceUrl":"http://banking.alabama.gov/pdf/Covid-19/Superintendent%20Hill_Further_Guidance_on_Lending_Operations_Borrowing_and_ORE_3192020_UPDATED_LINKS.pdf","snapshot":"https://web.archive.org/web/20200927075028/http://banking.alabama.gov/pdf/Covid-19/Superintendent%20Hill_Further_Guidance_on_Lending_Operations_Borrowing_and_ORE_3192020_UPDATED_LINKS.pdf","fileExists":true,"fileBytes":213598,"grade":"primary","character":"context","description":"","collection":"AGY-ST-INSURANCE-BANKING","url":"/library/AGY-ST-INSURANCE-BANKING-068","exhibitUrl":"/exhibit/AGY-ST-INSURANCE-BANKING-068","citation":"Mike Hill, Superintendent of Banks, Further Guidance on COVID-19 - Lending, Operations, Borrowing, and ORE (March 19, 2020) (Mar. 19, 2020) (Ex. AGY-ST-INSURANCE-BANKING-068)","stateName":"Alabama","related":["AGY-FED-FINANCIAL-006","AGY-ST-INSURANCE-BANKING-067"]}