Regulatory Agencies Issue Examiner Guidance for Assessing Safety and Soundness Effect of COVID-19 Pandemic

The four federal agencies in conjunction with the state bank and credit union regulators today issued examiner guidance to promote consistency and flexibility in the supervision and examination of financial institutions affected by the COVID-19 pandemic.  No action on the part of supervised institutions is required. Stresses caused by the […]

Federal Reserve: Main Street Lending Program Expanded to Allow More Small- and Medium-Sized Businesses to Receive Support

The Federal Reserve Board on Monday expanded its Main Street Lending Program to allow more small and medium-sized businesses to be able to receive support. The Board lowered the minimum loan amount, raised the maximum loan limit, adjusted the principal repayment schedule to begin after two years, and extended the […]

Federal Reserve: Announcing the Puerto Rico Nonprofit Leadership Development Initiative

The Puerto Rico Nonprofit Capacity Building Network, a collaboration among Enterprise Community Partners (Enterprise), NeighborWorks America (NeighborWorks) and Fundación Comunitaria de Puerto Rico (FCPR), today announced the six Puerto Rico nonprofits selected for the inaugural cohort of the Puerto Rico Leadership Development Initiative. The six nonprofits, representing all major regions across the island, will each receive a $35,000 grant, technical assistance, […]

Agencies Issue Host State Loan-to-Deposit Ratios

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that they will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of […]

Interagency Joint FAQs on CRA Consideration for Activities in Response to the Coronaviurs

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have issued the attached Frequently Asked Questions (FAQ) on CRA consideration for activities in response to the Coronavirus Disease (referred to as COVID-19). This FAQ provides additional […]

Federal Agencies Share Joint Principles for Offering Responsible Small-Dollar Loans

The federal financial institution regulatory agencies today issued principles for offering small-dollar loans in a responsible manner to meet financial institutions customers’ short-term credit needs. The Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency recognize the […]

Federal Reserve: Expanded Scope and Eligibility for the Main Street Lending Program Announced

The Federal Reserve Board on Thursday announced it is expanding the scope and eligibility for the Main Street Lending Program. As part of its broad effort to support the economy, the Federal Reserve developed the Main Street Lending Program to help credit flow to small and medium-sized businesses that were […]

Federal Reserve: Public Information Available Regarding Programs to Support and Foster Economic Recovery

The Federal Reserve Board outlines the extensive and timely public information it will make available regarding its programs to support the flow of credit to households and businesses and thereby foster economic recovery Building on its strong record of transparency and accountability around financial reporting and the policymaking process, the […]

Federal Reserve: “Revitalize or Stabilize”: Does Community Development Financing Work?

Daniel Ringo Abstract: Banks in the United States originate $100 billion in community development loans every year and hold a similar amount of community development investments on their balance sheets. A number of federal place-based policies encourage the provision of these loans and investments to promote growth, employment and the […]

Federal Banking Agencies to Defer Appraisals and Evaluations for Real Estate Transactions Affected by COVID-19

The federal banking agencies today issued an interim final rule to temporarily defer real estate-related appraisals and evaluations under the agencies’ interagency appraisal regulations. The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency are providing this temporary relief to allow regulated […]