Steps US banks are taking to confront the coronavirus pandemic - Business Insider

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.This is a bi-weekly update of Business Insider Intelligence's matrix of top US banks' coronavirus responses, which provides banks with a detailed overview of how their competitors are reacting to the pandemic.

As offices close and unemployment soars, banks are acting rapidly to help cushion the economic blow to consumers and businesses. Business Insider Intelligence has created a matrix that gives a rundown of coronavirus response efforts among the top 10 US retail banks by assets — based primarily on banks' communications on their public websites.

Over time, the matrix will evolve and grow as we continuously implement client suggestions about criteria to add or adjust.Banks' responses are being put under the microscope right now — their challenge is to strike a balance between the relief efforts that are expected of them by customers and regulators, and the efforts that are possible given their limited resources. Banks are seeing skyrocketing demand for help from consumers and businesses.

According to the "supplementary leverage ratio" rule, large banks with more than $250 billion in assets must hold capital equal to 3% of their total assets to protect against losses. But following the Fed's relaxation of the rule in an effort to boost lending, treasuries and cash reserves held at the Fed will be excluded from banks' leverage calculations until March 31, 2021.

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