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REGULATORY RELIEF

Disaster Relief
September 23, 2003


TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Steps to Help Rebuild Areas Affected by Hurricane Isabel
Summary: The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to facilitate the rebuilding process in areas damaged by the recent hurricane.

Hurricane Isabel has resulted in deaths, injuries and property damage throughout the Mid-Atlantic states. The FDIC is encouraging banks to work constructively with borrowers who, because of Hurricane Isabel, are experiencing difficulties beyond their control. The FDIC has prepared the attached guidelines, which state that 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 guidelines also address other types of regulatory relief.

For guidance on these and related matters, please contact Assistant Regional Director Michael J. Piracci in the New York Regional Office at (917) 320-2545 or Case Manager Charles A. Mellein in the Atlanta Regional Office at (678) 916-2207.

For your reference, FDIC financial institution letters may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2003/index.html .

Michael J. Zamorski
Director

Attachment

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342, option 5, or (703) 562-2200).

Last Updated 4/12/2004 communications@fdic.gov

FIL-72-2003

Last Updated: September 23, 2003