US regulators issue emergency guidance on Texas storms

Texas snowstorm Feb 2021
Members of the Texas National Guard push a stranded car after abnormally severe snowfall
US National Guard

US bank supervisors have issued an “interagency statement” outlining their regulatory approach in the aftermath of the severe winter storms that struck Texas earlier this month.

Four federal agencies co-signed the February 22 statement, including the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency.  

Regarding potentially distressed loans, the agencies said that “not all modifications will result in a troubled debt restructuring”

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