March 2021 Senior Financial Officer Survey B O A R

The third part of the second question asked the 36 respondents who expect their bank to take actions to reduce the level or growth of its reserve balances to rank, in order of importance, the factors that could prompt their bank to seek to do so. [...] The third part of the third question asked the same 54 respondents who answered the previ- ous part of the question to rate the likelihood that their bank would use specific liability adjustments to reduce the level or growth of its balance sheet if warranted. [...] Institution no longer makes PPP loans All respondents Domestic Foreign Banks Percent Banks Percent Banks Percent 1 (Not important) 3 100.0 1 100.0 2 100.0 2 0 0.0 0 0.0 0 0.0 3 0 0.0 0 0.0 0 0.0 4 0 0.0 0 0.0 0 0.0 5 (Very important) 0 0.0 0 0.0 0 0.0 Total 3 100.0 1 100.0 2 100.0 Note: 7 respondents provided an answer of N/A ii. [...] Institution’s funding needs are lower now than in 2020 All respondents Domestic Foreign Banks Percent Banks Percent Banks Percent 1 (Not important) 0 0.0 0 0.0 0 0.0 2 0 0.0 0 0.0 0 0.0 3 0 0.0 0 0.0 0 0.0 4 1 12.5 1 16.7 0 0.0 5 (Very important) 7 87.5 5 83.3 2 100.0 Total 8 100.0 6 100.0 2 100.0 Note: 2 respondents provided an answer of N/A iii. [...] Concern over the requirement to complete a new PPPLF Letter of Agreement All respondents Domestic Foreign Banks Percent Banks Percent Banks Percent 1 (Not important) 5 62.5 4 66.7 1 50.0 2 2 25.0 1 16.7 1 50.0 3 1 12.5 1 16.7 0 0.0 4 0 0.0 0 0.0 0 0.0 5 (Very important) 0 0.0 0 0.0 0 0.0 Total 8 100.0 6 100.0 2 100.0 Note: 2 respondents provided an answer of N/A v.