Earlier this week, a new interagency guidance document was released to promote consistency and flexibility in the supervision and examination of financial institutions impacted by the COVID-19 pandemic.

The Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, the Office of the Comptroller of the Currency (OCC), and the National Credit Union Administration (NCUA), in conjunction with the state bank and credit union regulators, developed the supervisory principles for assessing the safety and soundness of institutions during current times of uncertainty.

Based on the guidance, examiners should consider unique issues impacting institutions due to the pandemic and exercise flexibility in their supervisory response.

For more information, view the interagency guidance document.

Doeren Mayhew is committed to assisting its financial institution clients navigate the unique challenges of operating during the COVID-19 pandemic. Contact our Financial Institutions Group with any questions you may have.