The FDIC is exploring options to address the impact of Paycheck Protection Program loans on regulatory asset thresholds, FDIC Chairman Jelena McWilliams told ICBA.
FDIC working on PPP asset-threshold impact: McWilliams
September 21, 2020 / By ICBA
The FDIC is exploring options to address the impact of Paycheck Protection Program loans on regulatory asset thresholds, FDIC Chairman Jelena McWilliams told ICBA.
The FDIC is exploring options to address the impact of Paycheck Protection Program loans on regulatory asset thresholds, FDIC Chairman Jelena McWilliams told ICBA.
Responding to ICBA's call for federal regulators to exclude PPP loan balances from bank and bank holding company thresholds, McWilliams said the FDIC appreciates this concern and is considering targeted adjustments to mitigate unintended consequences from PPP lending.
In its letter, ICBA said the agencies should quickly amend regulations so the PPP won't push community banks over regulatory thresholds, subjecting them to additional burdens.
ICBA noted that while it has already asked House and Senate lawmakers to pass legislation directing the agencies to exclude PPP loans from asset thresholds, regulators are already authorized to do so.
ICBA will continue working with regulators and Congress to ensure community banks are not punished for their leading role in supporting small businesses during the coronavirus pandemic.
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