With the PPP receiving additional funding, financial institutions need to consider the operational risks around distribution of these funds, identification of fraud, as well as potential lawsuits from companies unable to secure funding.

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With additional funding in place, the Small Business Administration has announced that it will resume accepting PPP applications from participating lenders beginning on Monday, April 27, 2020, at 10:30 AM ET.

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The following includes information from RMA’s Coronavirus Blog, which provides market intelligence on how financial institutions are managing coronavirus risks in various ways.

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During an April 22 Risk Readiness Special Coverage webinar, Cris deRitis, Deputy Chief Economist, Moody’s Analytics, shared projections for the U.S. economy as the country navigates COVID-19 and its impacts.

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The impact of COVID-19 will be felt across all properties types as the effects of social distancing, travel restrictions, and economic recession will deteriorate the financial health of tenants.

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In the midst of the coronavirus crisis and with a persistent low net interest margin environment, banks should pay careful attention to their leveraged loan portfolio.

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The federal banking agencies will host an interagency webinar that will provide an overview on how institutions may become a Paycheck Protection Program lender.

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On April 21, 2020, the U.S. Senate passed legislation that will appropriate more than $320 billion in additional funding for the Small Business Administration’s Paycheck Protection Program.

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The following includes information from RMA’s Coronavirus Blog, which provides market intelligence on how financial institutions are managing coronavirus risks in various ways.

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During an April 17 Risk Readiness Special Coverage webinar, Sidney Levinson, Partner, Debevoise & Plimpton, and David Sewell, Counsel, Debevoise & Plimpton provided an overview of workouts pre-COVID-19 and discussed how the paradigm has shifted as a result of the pandemic.

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The Small Business Administration has issued a further interim final rule on the Paycheck Protection Program (PPP) supplementing the SBA’s initial interim final rule issued on April 2, 2020.

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In an April 8 Risk Readiness Special Coverage briefing, a team from Ernst & Young spoke of how U.S. financial institutions may position their businesses and balance sheets to address the potential of a U.S. negative rate policy.

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The Office of the Comptroller of the Currency (OCC) has announced that its Office of Innovation will host three listening sessions to discuss issues and potential solutions relating to the Paycheck Protection Program established under provisions of the CARES Act.

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The following includes information from RMA’s Coronavirus Blog, which provides market intelligence on how financial institutions are managing coronavirus risks in various ways.

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The federal banking agencies will jointly host a webinar to discuss the new transition provision in the recently issued interim final rule delaying the impact that the CECL methodology for estimating allowances for credit losses has on regulatory capital.

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The federal banking agencies have issued an interim final rule to allow banking organizations to neutralize the regulatory capital effects of participating in the Federal Reserve Board’s Paycheck Protection Program Lending Facility (PPPLF).

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The following includes information from RMA’s Coronavirus Blog, which provides market intelligence on how financial institutions are managing coronavirus risks in various ways.

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Context – Every portfolio is different, so each bank will need to develop its own response.

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During RMA’s Risk Readiness Special Coverage webinar, April Falcon Doss, Chair, Cybersecurity and Privacy at Saul Ewing Arnstein & Lehr, shared the ways in which the COVID-19 crisis is expanding cybersecurity and data privacy risks for the financial services industry.

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The U.S. Treasury Department has launched a new website providing information and guidance on the loan programs available to small businesses under the CARES Act.

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The CARES Act provides $349 billion for the Paycheck Protection Program, a new program to be administered by the Small Business Administration.

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