The New York State Department of Financial Services provided temporary relief to consumers and businesses from making premium payments to life insurance companies, property and casualty insurers, and premium finance agencies.
The Basel Committee Group of Central Bank Governors and Heads of Supervision delayed the implementation dates for Basel III to allow banks to focus on "immediate financial stability priorities" during the COVID-19 pandemic.
The New York State Department of Financial Services issued an emergency regulation on New York Governor Andrew Cuomo’s Executive Order directing NYDFS-regulated institutions to provide loan forbearance.
In a new report on the Small Business Administration 7(A) Loan Guaranty Program, the Congressional Research Service summarized pending legislation to assist small businesses adversely affected by COVID-19.
FDIC Chair Jelena McWilliams urged the Financial Accounting Standards Board to delay the implementation of an accounting standards update in order to allow banks to focus on addressing the impact of COVID-19.
The Federal Reserve Board final rule to (i) simplify the requirements for large banks subject to capital plan rules and (ii) implement a stress capital buffer requirement was published in the Federal Register.