Policy & Regulation

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.

The agencies said banks could receive Community Reinvestment Act credit for activities addressing the virus fallout, and clarified earlier guidance encouraging banks to dip into their capital buffers.

FDIC Chairman Jelena McWilliams, citing concerns about the coronavirus outbreak, is the first regulatory chief to call for suspending the accounting standard for expected loan losses.

The FDIC chairman, citing concerns about the coronavirus outbreak, is the first regulatory chief to call for suspending the accounting standard for expected loan losses.

Mark Calabria said Fannie Mae and Freddie Mac are currently equipped to handle elevated delinquencies, but they might need congressional or Federal Reserve help if fallout from the coronavirus persists.

The voluntary agreements were meant to help the FDIC make staffing changes ahead of a wave of retirements. But concerns about the coronavirus means those plans will be put on hold.

Groups often will oppose mergers on Community Reinvestment Act grounds. But the proposal would tighten standards for when the agency includes “adverse comments” in the process.

The expansion of the dollar swap lines allows foreign central banks to meet the needs of companies and financial institutions rushing for dollars as the global payments system undergoes severe strain due to the coronavirus.

Many new artificial intelligence and machine learning methods used for underwriting are not fully equipped to predict defaults.

The Money Market Mutual Fund Liquidity Facility, established under the central bank’s emergency authority, echoes a version that was set up during the global financial crisis.