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Financial Services Law Insights and Observations

Georgia Department of Banking and Finance issues bulletin regarding lending, liquidity, business continuity, and regulatory reporting

State Issues Covid-19 Georgia Lending Bank Regulatory Risk Management Bank Compliance Credit Union

State Issues

The Georgia Department of Banking and Finance has issued its monthly bulletin for financial institutions in which it provides guidance on lending, liquidity, business continuity planning, and regulatory reporting. Among other things, the department reiterates the importance of liquidity risk management during Covid-19 and urges financial institutions to consider the impact of certain scenarios on their liquidity. The department also provides questions that financial institutions should consider as part of their pandemic planning. The bulletin also notes that, for banks and credit unions, the department is implementing electronic document and payment submission for correspondence, applications, and requests, including any applicable fees.