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Disasters are unpredictable and can be devastating to a community. But there is a lot your bank can do to help prepare your customers for these events.
Disasters are unpredictable and can be devastating to a community. But there is a lot your bank can do to help prepare your customers for these events.
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Nov. 23, 2020
Federal regulators announced ICBA-advocated relief from regulatory burdens caused by participating in federal coronavirus response programs.
Under the interim final rule, community banks that have crossed certain regulatory asset thresholds will be able to calculate their asset size during calendar years 2020 and 2021 based on the lower of either total assets as of Dec. 31, 2019, or total assets as of the normal measurement date.
The rule applies to the community bank leverage ratio, the Fed’s debit card interchange and routing rule, management interlocks, call reports, examination frequency rules, the Small Bank Holding Company Policy Statement, and other thresholds. It applies to institutions with less than $10 billion in total assets as of Dec. 31, 2019.
ICBA has told policymakers since August that the surge of PPP loans has swelled community banks' balance sheets, inadvertently subjecting them to additional regulatory burdens.
Meanwhile, ICBA continues encouraging community bankers to keep urging Congress to include needed PPP and other reforms in the next economic stimulus package.