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FDIC Provides Temporary Relief for Banks with COVID-Bulked Balance Sheets

FDIC Provides Temporary Relief for Banks with COVID-Bulked Balance Sheets

Posted: Oct 21 2020
For banks that have experienced rapid and possibly short-term inflows of assets and deposits during the coronavirus pandemic, the FDIC yesterday issued an interim final rule providing relief from changed regulatory treatment as a result of those inflows. Under the rule, banks may determine the applicability of Part 363 of the FDIC’s regulations for fiscal years ending in 2021 with their consolidated total assets as of Dec. 31, 2019, or the beginning of fiscal years ending in 2021, whichever is less.
 
To read more, visit: https://www.fdic.gov/news/board/2020/2020-10-20-notice-dis-c-fr.pdf
 

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