Home > News & Events > Financial Institution Letters




Financial Institution Letters

Regulatory Relief
Guidance to Help Financial Institutions and to Facilitate Recovery in Areas of Oregon and Washington Affected by Severe Flooding
FIL-108-2007
December 13, 2007


Summary: The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Oregon and Washington state affected by severe flooding.

Highlights:

  • Severe flooding from recent storms has caused significant property damage to areas of Oregon and Washington.
  • The counties of Columbia and Tillamook in Oregon and Grays Harbor and Lewis in Washington have been declared federal disaster areas. Individuals and households in these counties may be eligible for federal assistance.
  • The FDIC is encouraging financial institutions to work constructively with borrowers who are experiencing difficulties beyond their control because of damage caused by these disasters.
  • 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 for banks in the affected areas.

Distribution:
FDIC-Supervised Banks (Commercial and Savings)
in Oregon and Washington

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 Severe Flooding in Oregon and Washington

Contact:
Assistant Regional Director George Parkerson at
(415) 808-8051 or GParkerson@fdic.gov

Printable Format:
FIL-108-2007 - PDF (PDF Help)

Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2007/index.html.

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

Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562- 2200).




Last Updated 12/13/2007 communications@fdic.gov