From WSJ today - Surprise Extend and Pretend is back! Bank Regulators Urge Flexibility in Commercial Real-Estate Loan Workouts as Defaults Grow ‘’In a new policy statement issued last month, the Federal Reserve, Federal Deposit Insurance Corp. and other regulators gave banks a road map of how to extend and restructure loans without necessarily having to take losses. The 90-page statement reiterates guidance already in place but also adds to it with a section about short-term workouts. Much of the policy urges flexibility. For example, the policy states that in certain situations banks can modify loans without taking a loss even if the properties backing them are worth less than the debt’’ https://lnkd.in/gk2h44ed