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Inactive Financial Institution Letters

Regulatory Relief
Guidance to Help Financial Institutions and to Facilitate Recovery in Alabama and Georgia
FIL-29-2007
March 27, 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 counties affected by severe storms and tornadoes in Georgia and Alabama.

Highlights:

  • Severe thunderstorms and tornadoes have resulted in significant damage in Sumter County, Georgia, and Coffee County, Alabama.
  • The FDIC is encouraging banks to work constructively with borrowers who are experiencing difficulties beyond their control because of damage caused by the storms.
  • 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 Alabama and Georgia

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 in Areas Affected by Severe Storms and Tornadoes in Alabama and Georgia

Contacts:
For Alabama, Assistant Regional Director David
Crumby at (678) 916-2173 or dcrumby@fdic.gov

For Georgia, Assistant Regional Director Timothy
Hubby at (678) 916-2178 or thubby@fdic.gov

Printable Format:
FIL-29-2007 - PDF 39k (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 3/13/2008 communications@fdic.gov