On 6/23/2020, the joint regulators issued interagency examiner guidance for assessing the safety and soundness of financial institutions considering the effect of the COVID-19 pandemic on institutions. The guidance states that the purpose is to outline the supervisory principles for assessing the safety and soundness of institutions given the ongoing impact of the COVID-19 pandemic. In assessing an institution under the principles in this document, the joint guidance explains that examiners will consider the institution’s asset size, complexity, and risk profile, as well as the industry and business focus of its customers and that examiners will consider the unique, evolving, and potentially long-term nature of the issues confronting institutions and exercise appropriate flexibility in their supervisory response.
The FDIC’s version of the joint guidance can be found here.