Fed Emergency Lending Collection

On Mar. 7, Fed proposed revision to FR A collection re COVID lending.

  • Fed proposed to extend for three years, with revision, the Reporting requirements associated with emergency lending under section 13(3) of Federal reserve act (FRA).
  • Section 13(3) provides that the Fed Board may authorize any Federal Reserve Bank to extend credit to an individual, partnership, or corporation, subject to conditions.
  • Regulation A establishes policies and procedures with respect to emergency lending.
  • Proposed Revisions
  • Revises FR A by removing certain reporting, disclosure requirements that were specific to COVID era lending facility programs established in 2020, since ceased, see #73236.
  • Consultation
  • Comments must be submitted on or before May 6, 2024.
  • Jul. 2024 Fed Adoption
  • On Jul. 1, 2024, Fed published adoption of revisions which are effective Jul. 31, 2024.

Regulators Fed
Entity Types Bank; Thrift
Reference 89 FR 54461, 7/1/2024; 89 FR 16570, Info, 3/7/2024; OMB 7100-0373; FRA; Reg A; COVID-19;
Functions Compliance; Financial; Legal; Operations; Reporting; Underwriting
Countries United States of America
Products Banking; Loan
Regions Am
Rule Type Final
Rule Date 3/7/2024
Effective Date 7/31/2024
Rule Id 203882
Linked to Rule :73236
Reg. Last Update 7/1/2024
Report Section US Banking

Last substantive update on 07/04/2024