; or (B) a lender may accelerate the due date of any covered loan agreement; or (2) in calculating the debts or liabilities of the borrower for purposes of determining whether such borrower is in conformity with any covered loan agreement. (b) Loan covenants not enforceable during COVID–19 national emergency (1) In general A lender may not enforce any loan covenant during the period beginning on the date of enactment of this Act and ending on the day that is 1 year after the termination of the national emergency declared by the President on March 13, 2020, under the National Emergencies Act ( 50 U.S.C. 1601 et seq.) relating to the COVID–19 pandemic. (2) Rulemaking Not later than the end of the 60-day period beginning on the date of enactment of this Act, the Secretary of the Treasury shall issue such regulations and guidance as may be necessary to ensure that any lender who complies with the requirements described in paragraph (1) is not deemed to be in violation of any law or regulation relating to the enforcement of loan covenants. (c) Trustee or person with fiduciary duty not liable (1) In general No trustee or other person with a fiduciary duty to the holders of any debt security shall be liable for any decision made not to enforce a loan covenant related to such debt security. (2) Applicability Paragraph (1) shall only apply during the period beginning on March 12, 2020, and ending on March 13, 2022. (d) Definitions In this Act, the following definitions apply: (1) Covered loan The term covered loan means a loan entered into on or before the date of the enactment of this Act. (2) COVID–19 relief program The term COVID–19 relief program means any program created by— (A) the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 ( Public Law 116–123 ); (B) the Families First Coronavirus Response Act ( Public Law 116–127 ); (C) the CARES Act ( Public Law 116–136 )