Accounting and regulatory reporting considerations of a revised interagency statement issued April 7 on loan modifications and reporting by financial institutions working with customers affected by the coronavirus (COVID-19) are the subject of a webinar slated April 24 for financial institutions.
The webinar was originally scheduled for March 27 on the original statement but was postponed the same day the president signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The statement was later revised for consistency with the new law.
The April 24 webinar will be hosted jointly by the Federal Deposit Insurance Corp. (FDIC), Federal Reserve Board, Office of the Comptroller of the Currency (OCC), and National Credit Union Administration (NCUA).
The FDIC announced the rescheduled webinar in a Financial Institution Letter (FIL) Thursday and said it will address clarifying the interaction between current accounting principles and Section 4013 of the CARES Act; supervisory considerations on past-due and nonaccrual regulatory reporting; and regulatory capital considerations.