Letter to Credit Unions (23-CU-05) Commercial Real Estate Loan Accommodations and Workouts
The National Credit Union Administration (NCUA), along with the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and Federal Deposit Insurance Corporation (FDIC) (collectively “the agencies”), in consultation with state bank and credit union regulators, are issuing the enclosed interagency Policy Statement on Prudent Commercial Real Estate Loan Accommodations and Workouts (Statement).
The Statement is a principles-based resource for credit unions to consider when engaging with commercial real estate borrowers experiencing financial difficulties. The Statement replaces the Policy Statement on Prudent Commercial Real Estate Loan Workouts (2009 Statement) adopted by the agencies, the Federal Financial Institutions Examination Council State Liaison Committee, and the former Office of Thrift Supervision.
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