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What will the examination approach be for managerial decisions made during this extraordinary time?
Credit unions’ prudent efforts to modify the terms of existing loans and/or provide other assistance to affected members, when done in a safe and sound manner, will not be subject to examiner criticism. Safety and soundness considerations will include systems by which credit union management will monitor and manage the risks being assumed, and the credit union’s financial ability to absorb the potential losses. Examiners will also consider these extraordinary circumstances which may result in temporary increases of delinquency and non-performing loans, etal. when reviewing an institution’s financial condition and determining any supervisory response.