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OCC Bulletin 2020-31
April 2, 2020
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Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties
The Office of the Comptroller of the Currency (OCC) is providing awareness to banks1 about new and expanded small business relief programs administered by the U.S. Small Business Administration (SBA). These programs are included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The SBA is streamlining its eligibility criteria and processes to enable more financial institutions to use these programs for eligible small business borrowers. The OCC encourages banks to consider prudently using these programs and will not criticize banks' efforts to assist small business borrowers who have been affected by financial or operational challenges due to the coronavirus (also known as COVID-19).
The information in this bulletin applies to community banks.
The OCC encourages banks to consider providing loans under available SBA relief programs to small businesses.
Please contact Atif Rafi or David Ni, Credit Risk Specialists for Commercial Credit Risk Policy, at (202) 649-6670.
Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy
1 The term "banks" refers to national banks, federal savings associations, and federal branches and agencies of foreign banking organizations.