The COVID Project
The record
- Jurisdiction
- United States; Federal Deposit Insurance Corporation (federal)
- Level
- Federal
- Authority
- 12 U.S.C. § 1819(a) Tenth; § 1820(b)
- Issued
- 2020-03-13 Mar. 13, 2020
- Effective
- 2020-03-13
- End
- Not rescinded within the period (read as 2021-09-30)
- In force
- Mar. 13, 2020 to Sept. 30, 2021
- Quarters
- 2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
- Limitation types
- Business closureOther
- Addressees
- FDIC-supervised institutions
- Functions reached
- BR branches (temporary closures)
- SV loan modifications
- OP regulatory reporting
- CB
- Collection
- Federal financial regulators AGY-FED-FINANCIAL
Operative words
The FDIC's staff stands ready to work with financial institutions that may experience challenges fulfilling their regulatory reporting responsibilities and will act expeditiously if institutions need to temporarily close facilities.... The FDIC understands that this unique and evolving situation could pose significant temporary business disruptions and challenges.
Enforcement
Supervisory; 12 U.S.C. § 1818
Notes
Parallel to OCC 2020-15 and SR 20-4; the FDIC's FAQ (Ex. 006) explains that no application is required for a temporary closure