Banker Webinar: Basics of New Paycheck Protection Program (PPP) Loan Programs

January 11, 2021 / Source: FDIC

Financial Institution Letter

FIL-01-2021

Summary:

The Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the National Credit Union Administration, and the Conference of State Bank Supervisors will host a webinar for bankers on Monday, January 11, 2021 from 2:00 p.m. to 3:00 p.m., ET, to discuss recent changes to the Paycheck Protection Program (PPP). During the webinar, officials from the Small Business Administration (SBA) and the U.S. Department of the Treasury (Treasury) will provide an overview of the new features of the PPP associated with the recently passed Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.

Participants must preregister for the event.

Statement of Applicability to Institutions with Total Assets Under $1 Billion: This Financial Institution Letter (FIL) applies to all FDIC-supervised institutions.

Highlights:

• During the webinar, SBA and Treasury officials will provide a timeline for the rollout of the new PPP programs; an overview of the PPP loan programs including first- and second-draw loans; and discuss related new forms and guidance.
• This webinar is intended for financial institutions that have participated in the PPP. Participants are encouraged to email questions in advance to [email protected].
• To accommodate as many financial institutions as possible, we ask each institution to register no more than two representatives to attend the live session. Preregistration is required.
• Webinar materials will be archived at www.askthefed.org in the “All Calls” tab and can be accessed a few hours after the webinar ends.
• Other resources include:
  • The FDIC’s Coronavirus (COVID-19) webpage, which provides guidance, announcements, and resources for bankers and consumers;
  • The FDIC’s Coronavirus (COVID-19) Information for Small Business Lenders webpage, which provides guidance, announcements, and resources for financial institutions working with small businesses;
  • The SBA’s Paycheck Protection Program webpage; and
  • The U.S. Department of the Treasury’s Assistance for Small Businesses webpage.

Distribution:

FDIC-Supervised Institutions

Suggested Routing:

Chief Executive Officer
Chief Financial Officer
Chief Credit Officer
Board of Directors

Related Topics:

Interagency Statement on Pandemic Planning
FAQs for Financial Institutions Affected by the Coronavirus