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The Federal Reserve Publishes Policy on CRE Loan Accommodations and Workouts
In early August, four of the big financial regulatory agencies — Office of the Comptroller of the Currency, Treasury; Federal Deposit Insurance Corporation; and National Credit Union Administration — published in the Federal Register a proposed change to a 2009 policy addressing commercial real estate loan accommodations and workouts.
Now the Federal Reserve has published its version of the policy, with a comment period ending on November 14, 2022.
"The proposed statement would build on existing guidance on the need for financial institutions to work prudently and constructively with creditworthy borrowers during times of financial stress, update existing interagency guidance on commercial real estate loan workouts, and add a new section on short-term loan accommodations," the proposal said. "The proposed statement would also address recent accounting changes on estimating loan losses and provide updated examples of how to classify and account for loans subject to loan accommodations or loan workout activity."
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