Home > Second Issue 2020 > Regulatory Actions in Response to COVID-19

Regulatory Actions in Response to COVID-19

In response to the COVID-19 crisis, the Federal Reserve, as well as its federal and state regulatory counterparts, has taken a number of steps to ease the burden on consumers and support the flow of credit and liquidity. Below are highlights of the unprecedented actions taken by regulators in light of the pandemic. For a comprehensive list of Federal Reserve or interagency rulemakings/statements related to COVID-19, visit the Federal Reserve’s COVID-19 resources page, available at www.federalreserve.gov/covid-19.htm .

Press Releases — Relief for Banks

Press Releases — Relief for Consumers

Other Regulatory Actions


Governor Michelle W. Bowman gave a speech at the Conference for Community Bankers sponsored by the American Bankers Association, in Orlando, FL, on February 10, 2020. Her speech, “Empowering Community Banks,” is available at www.federalreserve.gov/newsevents/speech/bowman20200210a.htm .

Chair Jerome H. Powell gave a speech at the Hutchins Center on Fiscal and Monetary Policy, the Brookings Institution, in Washington, D.C. (via webcast) on April 9, 2020. His speech, “COVID-19 and the Economy,” is available at www.federalreserve.gov/newsevents/speech/powell20200409a.htm .

Governor Michelle W. Bowman gave a speech at the “Age of Advancement: The Intricacies of a Digital World” 2020 Banking Outlook Conference, sponsored by the Federal Reserve Bank of Atlanta, in Atlanta on February 27, 2020. Her speech, “Direction of Supervision: Impact of Payment System Innovation on Community Banks,” is available at www.federalreserve.gov/newsevents/speech/bowman20200227a.htm .

Vice Chair of Supervision Randal K. Quarles gave a speech at Yale Law School in New Haven, CT, on February 11, 2020. His speech, “Spontaneity and Order: Transparency, Accountability, and Fairness in Bank Supervision,” is available at www.federalreserve.gov/newsevents/speech/quarles20200211a.htm .

Governor Lael Brainard gave a speech at the Symposium on the Future of Payments in Stanford, CA, on February 5, 2020. Her speech, “The Digitalization of Payments and Currency: Some Issues for Consideration,” is available at www.federalreserve.gov/newsevents/speech/brainard20200205a.htm .


Federal Reserve Board Chair Jerome H. Powell gave his semiannual Monetary Policy Report to the Congress before the U.S. House of Representatives Committee on Financial Services in Washington, D.C., on February 11, 2020. The report is available at www.federalreserve.gov/newsevents/testimony/powell20200211a.htm . Chair Powell submitted identical remarks to the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, on February 12, 2020.

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