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BOARD OF GOVERNORS
OF THE

FEDERAL RESERVE SYSTEM
WASHINGTON, D.C. 20551

DIVISION OF SUPERVISION
AND REGULATION
DIVISION OF CONSUMER AND
COMMUNITY AFFAIRS

SR 20-4
CA 20-3
March 13, 2020
TO THE OFFICER IN CHARGE OF SUPERVISION AT EACH FEDERAL RESERVE
BANK AND TO INSTITUTIONS SUPERVISED BY THE FEDERAL RESERVE
SUBJECT: Supervisory Practices Regarding Financial Institutions Affected by Coronavirus
Applicability: This letter is relevant to all institutions supervised by the Federal Reserve.
On March 9, the Federal Reserve Board and the other federal financial institution
regulatory agencies and state bank regulators issued a statement to encourage financial
institutions to meet the financial services needs of their customers and members in areas affected
by the Coronavirus. 1 Financial institutions are encouraged to review SR letter 13-6/CA letter 133, “Supervisory Practices Regarding Banking Organizations and their Borrowers and Other
Customers Affected by a Major Disaster or Emergency.” This letter discusses the supervisory
practices that the Federal Reserve System will employ when financial institutions and their
customers are affected by Coronavirus. SR letter 13-6/CA letter 13-3 also provides examples of
efforts that financial institutions may want to consider in working with affected customers.
Reserve Banks are asked to distribute this letter to the Federal Reserve-supervised
institutions in their districts, as well as to their supervisory and examination staff. If supervised
financial institutions have questions about the guidance set forth in this letter, they are
encouraged to contact the responsible Federal Reserve Bank. In addition, questions may be sent
via the Board’s public website. 2
Michael S. Gibson
Director
Division of Supervision
and Regulation

Eric S. Belsky
Director
Division of Consumer and
Community Affairs

Cross Reference to:
•

SR letter 13-6/CA letter 13-3, “Supervisory Practices Regarding Banking
Organizations and their Borrowers and Other Customers Affected by a Major
Disaster or Emergency”

1

Refer to the Board’s public website at:
https://www.federalreserve.gov/newsevents/pressreleases/bcreg20200309a.htm

2

http://www.federalreserve.gov/apps/contactus/feedback.aspx
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