Bank Supervision Adapts to Pandemic Challenges

Since a national emergency was declared in mid-March, the Fed—either alone or in concert with the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and state bank supervisors—has strived to ease some of the regulatory requirements on banks. At the same time, it has also operated liquidity facilities to assist the enactment of monetary and fiscal stimulus programs, like the Small Business Administration’s Paycheck Protection Program.
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