12. RESPONSIBLE CONSUMPTION AND PRODUCTION

Truist CFO Says Banks Asked Regulators for TDR Accounting Relief – Bloomberg Law

Truist CFO Says Banks Asked Regulators for TDR Accounting Relief  Bloomberg Law

Banks including Truist Financial Corp. told regulators that changes in accounting rules governing troubled-debt restructurings would help customers that might start to struggle during an economic downturn caused by the coronavirus.

Executives representing some of the biggest U.S. lenders asked regulators “to do what they can do to support us in helping our clients,” Truist Chief Financial Officer Daryl Bible said Tuesday at a conference sponsored by RBC Capital Markets. “We’ve asked them to give us some relief in the handling of TDRs and non-performers,” including allowing banks more freedom to give consumers extensions of loan terms, he said.

While…

Source: news.bloomberglaw.com

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