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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).
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