United States

Webinar on interagency statement on loan modifications and reporting


On April 24, 2020, the Federal Deposit Insurance Corporation, Federal Reserve Board, National Credit Union Administration and the Office of the Comptroller of the Currency hosted a webinar, Ask the Regulators: Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus. The webinar provided background information on the revised interagency statement and discussion of the interaction between current accounting rules and section 4013 of the Coronavirus Aid, Relief and Economic Security Act; supervisory considerations on past due and nonaccrual regulatory reporting; and regulatory capital implications. The session also included answers to questions from financial institution participants.  

A recording of the webinar is available by completing the webinar registration form. Upon launching the recording, a .pdf of the webinar slide deck is available by clicking on the "Materials" button. 

For further information on the Interagency Statement, refer to our April 10, 2020 article, Coronavirus: Interagency statement on loan modifications. As a reminder, the Financial Accounting Standards Board (FASB) has issued a release indicating its agreement with the interagency interpretation of the accounting literature on troubled debt restructurings (TDRs). Accordingly, entities not subject to supervision by one of the agencies also may find the interagency statement and webinar helpful when applying FASB ASC 310-40 and evaluating whether a modification constitutes a TDR.

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