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Financial Institution Letters

Regulatory Relief
Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Kentucky and Arkansas Affected by Severe Winter Weather
FIL-10-2009
February 6, 2009


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

Highlights:

  • Severe winter weather has caused significant property damage and long-term power outages in areas of Kentucky and Arkansas.
  • Federal disasters were declared on January 28, 2009, for selected counties in Kentucky and Arkansas.
  • The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe winter weather.
  • 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 also will consider regulatory relief from certain filing and publishing requirements.

Distribution:
FDIC-Supervised Banks (Commercial and Savings) in Kentucky and Arkansas

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 Winter Weather in Kentucky and Arkansas

Contact:
For Kentucky, Acting Assistant Regional Director
Richard Perkins at (312) 382-7520 or
rperkins@fdic.gov

For Arkansas, Assistant Regional Director Joseph
Meade at (972) 761-2068 or jmeade@fdic.gov

Printable Format:
FIL-10-2009 - 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/2009/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 2/6/2009 communications@fdic.gov