For now, regulators are letting banks put off that reckoning. In March, a bevy of watchdogs made it easier for lenders to modify terms, such as by lowering interest rates or letting borrowers skip payments. The moves wouldn’t necessarily require banks to label those situations as “troubled debt restructurings,” which require more capital.

“My belief is losses aren’t coming until third quarter for banks,” Ira Robbins, CEO of Valley National Bancorp, said in an interview. Because banks granted deferrals to pretty much everyone who asked for it, “we have no idea, outside of hypothesis, as to what’s going to happen from a credit perspective.”

Banks are now examining millions of account holders to determine who is taking advantage of the programs. The efforts include trying to figure out which customers still have jobs by checking databases operated by major credit reporting firms.

In a more innovative approach, some lenders are hoping to reverse the flow of information that’s flooded from banks to financial technology ventures in recent years. Aggregators such as Plaid and Envestnet Inc.’s Yodlee have been collecting account data and providing it to apps that offer help with personal finances or investments. Now, banks are hoping to tap into that information to glean a more complete view of their own customers’ finances, such as their balances at other banks.

“We’ve heard from some banks about their interest in using Plaid products for forbearance relief and are working with them to see if it can be used,” said John Pitts, head of policy at Plaid, which recently created a platform that makes it easier for banks to share their data with outside apps.

Some banks are considering letting customers continue skipping payments but reinstating interest on loans, a move that could make forbearance less enticing for those who don’t absolutely need it. Others might require customers to show additional proof they’ve been impacted by the virus.

“The banks want to genuinely help,” said Scott Barton, managing partner at 2nd Order Solutions, which advises lenders on collections and forbearance processes. But they “would like to start to differentiate and not give away money to people that don’t really need it right now.”

Forbearance deadlines vary by bank and customer. Citigroup Inc. was one of the first banks to offer forbearance, initially granting a 30-day reprieve that it since extended twice until May 31.

Generally, the nation’s largest banks -- also including JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. -- have said they will at least check in with borrowers in coming weeks as they assess how to continue programs and whether to encourage people to use other options. Those can include modifying loans or restarting some payments for credit cards or car loans.

So far, the programs seem to be easing financial strains during the pandemic. Fewer households were late on their cards, car loans, personal loans and mortgages in April than in March, according to TransUnion data released Wednesday. That upended expectations that consumers would fall behind on their debts as a result of widespread joblessness and the forced shutdown of the U.S. economy.