COVID-19 and Paycheck Protection Program, SBA, CECL and other provisions of the CARES Act

What Banks Should Know About the CARES Act - Temporary Relief for Banks, Paycheck Protection Program, and Related Provisions

You likely have many business customers financially suffering from the COVID-19 pandemic. The Coronavirus Aid, Relief, and Economic Security (CARES) Act offers some relief for struggling companies. Financial Institutions are the primary administrators of the lending programs that businesses need to endure the weeks and months ahead. Financial institutions benefit from some relaxed regulations and new guarantees.

Since the CARES Act was signed into law on March 27, financial institutions have been clamoring for the details they need to implement its programs. Your clients are likely looking to you for answers about the Paycheck Protection Program and other funding opportunities. They are expecting quick action to help them retain employees and stay in business.

Financial institution expert John Popeo will cover all the relevant provisions of the CARES Act, including:

• Small Business Administration (SBA) Section 7(a) lending opportunities and the Paycheck Protection Program (PPP)
• Regulatory compliance expectations with respect to current expected credit losses methodology for estimating allowances for credit losses (CECL)
• Relief for institutions with respect to troubled debt restructurings (TDRs)
• Temporary relief under the Community Bank Leverage Ratio (CBLR)
• Reinstatement of the FDIC Temporary Liquidity Guarantee Program (TLGP)
• Key credit and liquidity programs implemented by the Federal Reserve and the Treasury Department.

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