In an effort to provide the most accurate information, please check back regularly as we will only post information below that has been passed into law.  We will produce these resources as soon as possible.

Covid-19 News:

American Rescue Plan Act

Government News:

Recent Extensions Related to COVID-19

USDA Office of Rural Development (RD) has issued a number of immediate actions to help rural residents, businesses and communities impacted by COVID-19.

Financial Institution News:

COVID 19 Tax and Other Relief Provisions for Financial Institutions

Community Bank Leverage Ratio The office of the Comptroller of the Currency (OCC), along with the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation (collectively, the agencies) have approved an interim final rule as of April 6, 2020 that makes temporary changes to the community bank leverage ratio framework […]

Borrower Accounting for a Forgivable Loan Received Under the Small Business Administration Paycheck Protection Program (PPP)

While much attention has been given to the PPP loan program, including the effects on the lenders, many borrowers have posed questions on how to record the loan and related forgiveness.  The Financial Accounting Standards Board has provided some clarity on the issue to help borrowers record and report the transaction appropriately.  Borrowers with financial […]

New Regulatory Reporting Changes for Financial Institutions: June 2020

New Data for June 2020 New to June 2020 call reports will be data surrounding the Federal Reserve Lending Facilities, the Paycheck Protection Program (PPP), and loan modifications under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Loan Modifications Items added include the number of loans with modifications under Section 4013 of the […]