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Regulatory Relief Guidance to Help Financial Institutions and to Facilitate Recovery in Kiowa County, Kansas

Disaster Relief
May 10, 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 Kiowa County, Kansas, which suffered major damage from tornadoes on May 4, 2007. 

Highlights

  • Recent tornadoes have caused significant damage in Kiowa County, Kansas.
  • The county was declared a Federal Disaster Area on May 6, 2007.
  • 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 for banks in the affected areas.

Distribution

FDIC-Supervised Banks (Commercial and Savings) in Kansas 

Suggested Routing

Chief Executive Officer

Compliance Officer

Chief Lending Officer 

Note

FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/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). 

Additional Related Topics

  • Lending
  • Investments
  • Publishing Requirements
  • Consumer Laws
FIL-39-2007
Attachment(s)
Supervisory Practices Regarding Depository Institutions and Borrowers in Areas Affected by Severe Storms and Tornadoes in Kiowa County, Kansas
Contact(s)
Assistant Regional Director Stephen P. Gaddie, (816) 234-8095

Last Updated: May 10, 2007