We are monitoring the developments of COVID-19 so we can continue to provide support as you navigate the uncertainty and turbulence of the "new normal."

Delap's financial institutions team recently attended the AICPA's annual conference on banks and savings institutions. We know financial institutions have many questions on issues such as:

• Lenders' accounting for Paycheck Protection Program (PPP) loans
• Lenders' accounting for PPP loan fees received from the Small Business Administration
• Loan modifications made during the COVID-19 pandemic
• Troubled debt restructurings (TDRs)
• The accounting impact of certain provisions in the CARES Act

Each of these topics was addressed in detail at the AICPA conference and in various other formats over the past few months. We have accumulated some of the most common resources, literature, and guidance into one location below for your convenience:

• Interagency Statement on Loan Modifications – March 22, 2020 (before CARES Act)
• Interagency Statement on Loan Modifications – April 7, 2020 (after CARES Act)
• Joint Statement on Additional Loan Accommodations – August 3, 2020
• OCC Reference Guide on TDR Designation and COVID-19 Loan Modifications
• AICPA Technical Questions 2130.41-45 Loan Restructurings and PPP Loans

Hopefully this is helpful as you continue to maneuver these unprecedented times. As always, please don't hesitate to reach out to Delap if we can assist you in any way.

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