COVID-19 Interagency Safety and Soundness Guidance Summary
This tool summarizes the recent Interagency Examiner Guidance for Assessing Safety and Soundness Considering the Effect of the COVID-19 Pandemic on Financial Institutions. The Guidance explains that examiners will:
- Consider the “unique, evolving, and potential long-term nature of the issues confronting banks” and will exercise appropriate flexibility in their supervisory response;
- Continue to assign CAMELS and ROCA supervisory ratings; and
- Consider whether management has managed risk appropriately and taken reasonable actions to respond to COVID-19’s impact.
This summary may be used in conjunction with Compliance Alliance’s Safety and Soundness Incoming Information Assessment.
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