On March 27, the Federal Reserve Board, the FDIC and the OCC announced two actions to support continued lending by banking organizations to households and businesses. The first action is early adoption of the standardized approach for measuring counterparty credit risks finalized in November 2019, with a new effective date of April 1, 2020. The second action is an interim final rule that allows banking organizations that would otherwise be required to adopt the new current expected credit loss accounting standard this year, to have the option of delaying adopting the new standard for up to two years. Federal Reserve Release. FDIC Release. OCC Release.