ABSTRACT

Banking Regulators' Response to COVID-19 [March 25, 2020]   [open pdf - 631KB]

From the Document: "Economic conditions have deteriorated rapidly in the past few weeks, as the coronavirus (COVID-19) outbreak has caused many businesses and public institutions to limit or close their operations. Policymakers are considering a range of programs and policy options to assist Americans facing increased financial hardship and those incurring time off work because of illness. Once it became clear that the COVID-19 outbreak would have serious financial ramifications for households and businesses, the federal agencies that regulate banks and credit unions--the Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and Consumer Financial Protection Bureau (collectively referred to as the bank regulators), and the National Credit Union Administration--responded in two general ways as discussed in this Insight: [1] measures to encourage banks to work with customers affected by COVID-19; and [2] adjustments to bank regulation related to capital, liquidity, and supervision."

Report Number:
CRS Insight, IN11278
Author:
Publisher:
Date:
2020-03-25
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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