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Regulators issue more guidance on banks’ pandemic response

Published on March 20, 2020 by American Banker
Regulators issue more guidance on banks’ pandemic response

WASHINGTON — Federal banking regulators took a series of steps Thursday to further guide banks in supporting customers, small businesses and communities in the midst of the coronavirus outbreak.

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency expanded activities eligible for Community Reinvestment Act credit to include actions that support communities affected by the pandemic. The agencies also clarified earlier guidance encouraging banks to use their capital and liquidity buffers for lending efforts.

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