The COVID Project
Context, not an orderThis record is guidance or an announcement kept for context. It is not counted among the orders in force.
The record
- Jurisdiction
- United States; National Credit Union Administration (federal)
- Level
- Federal
- Authority
- 12 U.S.C. § 1790d; § 1766(a)
- Issued
- 2020-04-01 Apr. 1, 2020
- Effective
- April 2020 (read as 2020-04-01)
- End
- Applied through the PPP's life (read as 2021-09-30)
- In force
- Apr. 1, 2020 to Sept. 30, 2021
- Quarters
- 2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
- Limitation types
- Other
- Addressees
- federally insured credit unions participating in the PPP
- Functions reached
- BL business lending (PPP)
- OP capital
- Character
- context
- Collection
- Federal financial regulators AGY-FED-FINANCIAL
Operative words
Regulatory Treatment for Paycheck Protection Program Loans [Letter No. 20-CU-11, April 2020; PPP loans receive a zero percent risk weight and are excluded from certain net worth and member business loan calculations]
Enforcement
Notes
Credit-union counterpart of Ex. 026
Retrieval noteMonth-dated letter (April 2020); title and number read from the exhibit header, bracketed summary from the letter body. Cite it as context and cite the underlying order, statute or emergency rule it describes as the instrument. (Bulletins whose operative text imposes a mandatory duty on licensees under the regulator's own authority are excluded from this downgrade and listed separately for review.)).