FHFA: Agency Moves to Provide Eviction Suspension Relief for Renters in Multifamily Properties
Today, to keep renters in multifamily properties in their home and to support multifamily property owners during the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) is announcing that Fannie Mae and Freddie Mac (the Enterprises) will offer multifamily property owners mortgage forbearance with the condition that they suspend all evictions for renters unable…
FEMA: President Trump Approves Major Disaster Declaration for California
FEMA announced that federal emergency aid has been made available for the state of California to supplement state, tribal and local recovery efforts in the areas affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on January 20, 2020, and continuing. The President’s action makes federal funding available for Crisis Counseling for affected individuals in…
FEMA: President Trump Approves Major Disaster Declaration for Washington
FEMA announced that federal emergency aid has been made available for the state of Washington to supplement the state, tribes and local recovery efforts in the areas affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on January 20, 2020, and continuing. The President’s action makes federal funding available for Crisis Counseling for affected individuals…
Agencies Provide Additional Information to Encourage Financial Institutions to Work with Borrowers Affected by COVID-19
The federal financial institution regulatory agencies and the state banking regulators issued an interagency statement encouraging financial institutions to work constructively with borrowers affected by COVID-19 and providing additional information regarding loan modifications. The agencies encourage financial institutions to work with borrowers, will not criticize institutions for doing so in a safe and sound manner,…
FEMA: President Trump Approves Major Disaster Declaration for New York
FEMA announced that federal emergency aid has been made available for the state of New York to supplement states, tribes and local recovery efforts in the areas affected by the Coronavirus Disease 2019 (COVID-19) pandemic beginning on January 20, 2020, and continuing. The President’s action makes federal funding available for Crisis Counseling for affected individuals…
FEMA: Use of Defense Production Act Authorities to Support the Pandemic Response
The Defense Production Act (DPA) of 1950, as amended (50 U.S.C. 4501 et seq.) is the primary source of presidential authorities to expedite and expand the critical supplies and services from the private sector that are needed to promote national defense. This includes both emergency preparedness and response activities conducted pursuant to title VI of…
FEMA: Coronavirus (COVID-19) Pandemic Eligible Emergency Protective Measures
Consistent with the President’s national emergency declaration for the coronavirus (COVID-19) pandemic on March 13, 2020, FEMA urges officials to, without delay, take appropriate actions that are necessary to protect public health and safety pursuant to public health guidance and conditions and capabilities in their jurisdictions. FEMA provides the following guidance on the types of emergency…
Pandemic Planning: Joint Questions and Answers Regarding State About the Use of Capital and Liquidity Buffers
Summary The Office of the Comptroller of the Currency (OCC), along with the Board of Governors of the Federal Reserve System (Federal Reserve) and the Federal Deposit Insurance Corporation (FDIC) (collectively, the agencies), recognize the potential for Coronavirus Disease (also referred to as COVID-19) to adversely affect the customers and operations of financial institutions. On…
Federal Bank Regulatory Agencies Issue Interim Final Rule for Money Market Liquidity Facility
To support the flow of credit to households and businesses, the federal bank regulatory agencies today announced an interim final rule to ensure that financial institutions will be able to effectively use a liquidity facility recently launched by the Federal Reserve Board. The Board launched the Money Market Mutual Fund Liquidity Facility, or MMLF, yesterday…