Question: <\/strong>What type of documentation should financial institutions maintain relative to providing an accommodation to a borrower affected by COVID-19?<\/p>\n Answer: <\/strong>Financial institutions should maintain appropriate documentation that considers borrowers\u2019 payment status<\/i><\/span> prior to being affected by COVID-19, and borrowers\u2019 payment performance<\/i><\/span> according to the changes in terms provided by the payment accommodation. Documentation could also include the borrowers\u2019 recovery plans<\/i>, sources of repayment<\/i>, additional advances on existing or new loans, and value of the collateral.<\/i><\/span><\/p>\n Reference: <\/strong><\/em>FDIC Frequently Asked Questions, September 22, 2020<\/i><\/p>\n Question: <\/strong>Will FDIC examiners make banks categorize all loan modifications related to COVID-19 events as a TDR?<\/p>\n Answer: <\/strong>No. The FDIC continues to encourage financial institutions to work with borrowers who may be impacted by COVID-19, by offering to modify, extend, suspend, or defer the repayment terms<\/i>. FDIC examiners have been directed to exercise significant flexibility<\/i> in reviewing credits that are impacted by COVID- 19 and will work with financial institutions relative to any reporting issues. Please refer to interagency supervisory guidance,4 which provides more information on TDRs.<\/p>\n Reference: <\/strong><\/em>FDIC Frequently Asked Questions, May 27, 2020<\/i>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=”default” text_align=”left”][vc_column_inner column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” width=”1\/1″ tablet_width_inherit=”default” overlay_strength=”0.3″ column_border_width=”none” column_border_style=”solid” bg_image_animation=”none”][nectar_gradient_text heading_tag=”h2″ color=”extra-color-gradient-2″ gradient_direction=”diagonal” text=”Emerging Regulatory Issues”][vc_column_text]\n 10\/01\/20<\/b> – Introduced in the House by Ted <\/strong>Budd<\/b><\/p>\n 10\/27\/20<\/b> \u2013 Introduces in the <\/strong>House by Stephanie N. Murphy<\/b><\/p>\n [vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″ shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_link_target=”_self” column_shadow=”none” column_border_radius=”none” width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” overlay_strength=”0.3″ column_border_width=”none” column_border_style=”solid” bg_image_animation=”none”][vc_row_inner column_margin=”default” text_align=”left”][vc_column_inner column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″…<\/p>\n","protected":false},"author":3,"featured_media":1117,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[103],"tags":[],"class_list":{"0":"post-1116","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-compliance-security-updates"},"yoast_head":"\nTDR (Troubled Debt Restructuring) Categorization<\/b><\/h5>\n
Online Accessibility Act \/\/ H.R. 8478<\/span><\/h3>\n
Key Provisions:<\/h4>\n
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Required Minimum Distribution Modernization Act \/\/ H.R. 8567<\/span><\/h3>\n
Key Provisions:<\/h4>\n
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