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OCC Bulletin 2020-72 | August 3, 2020

Credit Administration: Joint Statement on Additional Loan Accommodations Related to COVID-19


Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties


The Federal Financial Institutions Examination Council on behalf of its members1 today issued a joint statement to provide prudent risk management principles for financial institutions to consider while working with borrowers as loans near the end of initial loan accommodation periods applicable during the coronavirus disease 2019 (COVID-19) outbreak.

Note for Community Banks

The joint statement applies to community banks.2


The joint statement addresses

  • prudent risk management practices that include identifying, measuring, and monitoring the credit risks of loans that receive accommodations.
  • well-structured and sustainable accommodations.
  • consumer protection considerations.
  • accounting and regulatory reporting treatment.
  • the role of internal control systems.

Further Information

Please contact John Court, National Bank Examiner for Retail Credit Risk Policy, at (202) 649-6670.


Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy

Related Link

1 The Federal Financial Institutions Examination Council comprises the principals of Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, and State Liaison Committee.

2 "Banks" refers collectively to national banks, federal savings associations, and federal branches and agencies of foreign banking organizations.