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Keeping credit viable during a crisis
In response to the coronavirus (COVID-19) pandemic’s negative impact on the U.S. and global economies, federal lawmakers have taken a number of steps to stimulate the economy and sustain credit flow — including passing the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This article discusses several of the act’s provisions designed to help community banks extend credit to struggling businesses and individuals. A sidebar looks at whether banks might be entitled to refunds of prior years’ taxes...Read article |
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Take steps now to handle liquidity risk As a result of the coronavirus (COVID-19) pandemic, businesses and banks are suffering under nearly unprecedented economic pressures that are likely to play out for some time. This article notes that it’s more important than ever for community banks to set up appropriate strategies, policies, procedures and limits to manage and mitigate their liquidity risk. These may include ensuring effective board and management oversight and implementing appropriate liquidity risk measurement and monitoring systems, among other steps...Read article |
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Will CECL affect your incentive compensation plans? For most community banks, the current expected credit loss (CECL) model doesn’t take effect until 2023. Nevertheless, given the impact on banks’ financial statements and accounting processes, it’s a good idea to start preparing as early as possible. This article points out that it’s important for banks to understand CECL’s potential impact on incentive compensation plans. It discusses the impact of the new rules and what steps banks should take to prepare to implement the rules...Read article |
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BANKWireThis brief summary of recent developments in community banking explains that the federal banking agencies have issued a rule temporarily offering appraisal relief to real estate transactions affected by the coronavirus (COVID-19) national emergency. It also notes that the Federal Reserve Board has relaxed a restriction on savings accounts transfers and points out that the Coronavirus Aid, Relief, and Economic Security (CARES) Act defers payroll taxes, also temporarily. Finally, the article discusses the results of a recent survey of community banks...Read article |
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