There's a new policy statement being considered by the Office of the Comptroller of the Currency, Treasury; Federal Deposit Insurance Corporation; and National Credit Union Administration, according to notification in the Federal Register. This would update a policy initially adopted in 2009 in the wake of the financial crisis at the time.

"The agencies are proposing to update and expand the 2009 Statement by incorporating recent policy guidance on loan accommodations and accounting developments for estimating loan losses (proposed Statement)," said the notification. "In developing the proposed Statement, the agencies consulted with state bank and credit union regulators. If finalized, the proposed Statement would supersede the 2009 Statement for all supervised financial institutions."

The proposed statement still focuses on the importance of "working constructively with CRE borrowers who are experiencing financial difficulty and would be appropriate for all supervised financial institutions engaged in CRE lending that apply U.S. generally accepted accounting principles (GAAP)." It still notes that accommodations and workouts are still frequently in the best interest of both the borrower and the lender.