PR Number
Date Issued |
Title |
Purpose |
PR-84-2005
August 31, 2005 |
Responding to Hurricane Katrina: FDIC Encourages Banks to Work with Those Hit Hard |
- Highlight that FDIC issued a letter to bankers encouraging them to work with borrowers in the areas hit hard by the storm.
- Encourage consumers and business owners to actively reach out and work with their financial institutions.
- Provide the FDIC's toll free Consumer Hotline Number to consumers.
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Joint Release
September 2, 2005
PR-85-2005 |
Agencies Encourage Insured Depository Institutions to Assist Displaced Customers |
- Ask insured depository institutions to consider all reasonable and prudent steps to assist customers' and credit union members' cash and financial needs in areas affected by Hurricane Katrina.
- Remind the public that deposit insurance is in full force and the money in FDIC- or NCUA-insured accounts is protected by federal deposit insurance.
- Note that a priority is to provide customers access to deposit accounts and other financial assets.
- Encourage financial institutions to assist affected institutions and consider all reasonable and prudent actions that could help meet the critical financial needs of their customers and communities.
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PR-86-2005
September 2, 2005
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FDIC Providing Consumers Banking Information About Hurricane Katrina: Opens Toll-Free Consumer Hotline to Answer Questions, Help Consumers and Banks Connect |
- Announce the new 24-hour consumer hotline and dedicated web page that includes bank branch information for FDIC-insured institutions in damaged areas.
- Highlight that the FDIC is contacting FDIC-insured institutions with the affected disaster zones and maintaining an up-to-date data base on the web site identifying the operational status of financial institutions.
- Highlight that the FDIC encouraged banks to do what they can to assist consumers with the banking needs due to the disaster.
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PR-88-2005
September 7, 2005 |
Banks Resuming Operations in Hurricane-Affected Areas: Chairman to Tour Areas Hit by Storm, Meet with State Banking Commissioners |
- Note that most banks in the areas affected by Hurricane Katrina are operating and providing financial services to customers and non-customers.
- Announce Chairman Powell's trip to the hurricane disaster area at the invitation of the Louisiana and Mississippi bank commissioners.
- Remind customers to protect their Social Security, bank, and credit card numbers, as well as other personal information.
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PR-90-2005
September 14, 2005 |
Banks Opening More Branches in Areas Affected by Hurricane Katrina, Helping Communities Rebuild |
- Announce that all the 280 FDIC-insured banks in the hurricane-affected area were operating, with 93 percent or 4,693 of the 5,054 bank and savings institution branches open for business, and that 33 temporary locations have been opened in the 3 state-area.
- Detail Chairman Powell's tour of Omni Bank in Jefferson Parish, which was operating jointly with five competitors in an effort to best serve the community.
- Reiterate message to consumers that their money is safe and note that the FDIC is aware of the difficulties some customers have had reaching their bank due to telecommunications problems.
|
Joint Release
September 19, 2005 |
FFIEC Forms Working Group to Address Financial Industry Issues After Hurricane Katrina |
- Announce the formation of an interagency working group to enhance the agencies' coordination and communication on, and supervisory responses to, issues facing the industry in the aftermath of Hurricane Katrina.
- Note that group membership will include senior level supervision official from each member agency and the FFIEC's State Liaison Committee.
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PR-92-2005
September 22, 2005 |
FDIC Supports Regulatory Relief in House Testimony, Endorses Action by Congress to Help Banks in Hurricane Zone: General Counsel urges including additional financial agency-endorsed proposals into H.R. 3505 |
- Support continuing efforts to eliminate unnecessary regulatory burden and to streamline and modernize laws and regulations for the financial industry in accordance with EGRPRA.
- Recommend that Congress consider lightening the regulatory burden on banks by temporarily relaxing Prompt Corrective Action requirements for affected institutions, as it has in previous disasters.
- Note that the banking agencies have exercised flexibility in the enforcement of regulatory requirements in order to help banks serve hurricane victims as best as possible.
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PR-93-2005
September 23, 2005 |
FDIC Encourages Banks to Assist the Victims of Hurricane Rita: Continues Toll-Free Hotline for Consumers with Banking Troubles |
- Encourage FDIC-supervised banks to work constructively with consumers who may be hit hard by Hurricane Rita.
- Remind consumers about the 24-hour hotline for consumers and the special Web page for victims of the hurricanes.
- Encourage customers to open a dialogue with their bank to find out how it can help them recover from this natural disaster.
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Joint Release
September 28, 2005
PR-96-2005 |
Agencies Announce Orders Exempting Bank Transfer Agents Affected by Hurricane Katrina |
- Announce issuance of orders granting emergency relief to bank transfer agents affected by Hurricane Katrina.
- Recognize that securities transfers and payments to and from security holders in the affected region may present compliance issues for some FDIC-regulated transfer agents.
- Relax temporarily certain regulatory provisions in order to provide FDIC-regulated transfer agents with flexibility in coping with the situation.
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Joint Release
October 6, 2005 |
FFIEC Agencies Announce Additional Guidance for Financial Institutions in Response to Hurricanes Katrina and Rita |
- Announce the availability of additional supervisory guidance (in question and answer format) on regulatory and reporting issues related to Hurricanes Katrina and Rita.
- Provide guidance on: the agencies' expectations for regulatory reports; appropriate allowances for loan and lease losses; accounting treatment of sales of held-to-maturity securities, and temporary hardship programs.
- Announce that the agencies have granted a waiver from their respective appraisal regulations to regulated institutions entering into transactions with borrowers affected by the hurricanes.
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PR-106-2005
October 25, 2005 |
FDIC Asks Banks to Work Constructively with Borrowers Affected by Hurricane Wilma: Provides Toll-Free Consumer Hotline to Answer Banking Questions |
- Ask FDIC-regulated banks to work with borrowers affected by the damage caused by Hurricane Wilma throughout South Florida.
- Remind consumers that the FDIC's 24-hour toll-free consumer hotline, established in the aftermath of Hurricane Katrina, is still operational.
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Joint Release
November 30, 2005 |
Agencies Encourage Insured Depository Institutions to Continue Efforts to Meet the Financial Needs of Customers Recovering from the Aftermath of Hurricane Katrina |
- Encourage insured depository institutions to consider all reasonable and prudent actions that could help meet the critical financial needs of their customers and their communities affected by Hurricane Katrina.
- Continue to encourage lenders to work with both individual and commercial borrowers who have been affected by the storms - - granting additional deferral periods for some borrowers in accordance with sound risk management practices may be appropriate given that the timing and amount of insurance payments, disaster payments, and other assistance may still be unknown.
- Encourage institutions to provide flexible repayment terms at the end of the deferral period, such that lump sum payments of all deferred interest and principal do not become due immediately when payments resume.
- Encourage institutions to continue efforts to contact their customers. Stress importance that borrowers displaced by the storm contact their lending institution.
- Direct institutions and consumers to FFIEC website for more detailed guidance that address various repayment options and the regulatory reporting requirements surrounding them.
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PR-2-2006
January 5, 2006 |
Full Effects of Recent Hurricanes on Gulf Coast Banks Will Take Time to Assess: FDIC Offers Preliminary Analysis on FDIC-Insured Banks |
- Announce the release of the winter 2005 edition of FDIC Outlook, which focuses on the unique challenges banks face after Hurricanes Katrina and Rita.
- Provide web link to FDIC Outlook.
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Joint Release
January 13, 2006
PR-6-2006 |
Federal Financial Regulators Announce Public Service Campaign to Help Hurricane Victims |
- Announce a public service campaign to aid in the financial recovery of victims of last year's hurricanes.
- Encourage banks, thrifts, and credit unions to continue to work with borrowers - - assistance may include waiving fees, lowering interest rates, extending repayment schedules, or deferring principal or interest for an additional period, if appropriate.
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PR-4-2006
January 10, 2006 |
Effects of Hurricanes Katrina and Rita on Local Banking Sector Beginning to Emerge;
Housing markets moderating in parts of West, Northeast and South: FDIC analysts review current banking and economic conditions across the nation |
- Announce the release of the winter 2005 edition of the FDIC Regional Profile and FDIC State Profiles.
- Provide insights into the impact of Hurricanes Katrina and Rita on directly affected local economies and banking sectors.
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Joint Release
February 3, 2006
PR-12-2006 |
Federal Bank and Thrift Supervisors Announce Banking Forum in New Orleans |
- Announce that the federal bank and thrift regulatory agencies will be hosting a forum, titled "The Future of Banking on the Gulf Coast: Helping Banks and Thrifts Rebuild Communities," on March 2-3, 2006.
Highlight that focus of forum will be the short-term and long-term challenges facing banks and thrifts operating in the areas affected by Hurricanes Katrina and Rita and on ways of helping meet the needs of the local communities.
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