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Financial Institution Letters

Regulatory Relief
Guidance to Help Financial Institutions in Areas Affected by Wildfires
FIL-130-2005
December 30, 2005


Summary: The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to facilitate the rebuilding process in areas damaged by recent wildfires in Oklahoma and Texas.

Highlights:
  • The recent wildfires have resulted in considerable damage to the public infrastructure, structures, equipment and land in the affected areas of Oklahoma and Texas.
  • The FDIC is encouraging banks to work constructively with borrowers who, because of these natural disasters, are experiencing difficulties beyond their control.
  • Extending repayment terms, restructuring existing loans or easing terms for new loans, if done in a manner consistent with sound banking practices, can contribute to the health of the community and serve the long-term interests of the lending institution.
  • The FDIC will also consider regulatory relief from certain filing and publishing requirements.

Distribution:
FDIC-Supervised Banks (Commercial and Savings) in Oklahoma and Texas

Suggested Routing:
Chief Executive Officer
Compliance Officer
Chief Lending Officer

Related Topics:
Lending
Investments
Publishing Requirements
Consumer Laws

Attachment:
Supervisory Practices Regarding Depository Institutions and Borrowers Affected by the Wildfires

Contact:
For Oklahoma Institutions:
Assistant Regional Director Wayne Nichols
972-761-2067 or wnichols@fdic.gov

For Texas Institutions:
Assistant Regional Director Cheryl Couch
972-761-2030 or ccouch@fdic.gov

Printable Format:
FIL-130-2005 - PDF 32k (PDF Help)

Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2005/index.html.

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.

Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).


Last Updated 12/30/2005 communications@fdic.gov