CCUL Headlines: Risk & Compliance

Postponed: Reg agencies to host webinar on recent troubled debt restructuring guidance

Wednesday, March 25, 2020   (0 Comments)
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The webinar to be hosted by federal and state financial institution regulatory agencies on Friday, March 27, 2020 at 2 p.m. Eastern has been postponed due to recent legislative developments that could impact the interagency statement issued on March 22.

The purpose of the interagency “Ask the Regulators” session is to help clarify the March 22 statement, which encourages financial institutions to work constructively with borrowers affected by COVID-19 and provides additional information regarding loan modifications, including when such modifications would not result in accounting for troubled debt restructuring designation.

Now the agencies and the state banking regulators will review the final version of the legislation and assess its impact on the interagency statement. In the meantime, the agencies continue to encourage financial institutions to work prudently with borrowers who are affected by COVID-19.

The agencies intend to schedule a new "Ask the Regulators" webinar soon, will invite registrants' questions in advance by email, and will archive the webinar materials for future viewing.

 


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