FFIEC Statement on Loan Accommodations

On 8/3/2020, the Federal Financial Institutions Examination Council (FFIEC) issued a joint statement to provide prudent risk management and consumer protection principles for financial institutions to consider while working with borrowers as loans near the end of initial loan accommodation periods applicable during the pandemic. The statement explains that the guidance provided should be applied to both commercial and retail loan accommodations and should be tailored to a financial institution’s size, complexity, and loan portfolio risk profile.

The joint statement can be found here.

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