Regulatory Relief Guidance to Help Financial Institutions and to Facilitate Recovery in Storm- and Flood-affected Areas of Oklahoma and Texas

Highlights:

• Severe storms, tornadoes and flooding have caused significant damage to areas of Oklahoma and North and Central Texas.
• The Oklahoma counties of Atoka, Beckham, Blaine, Caddo, Comanche, Dewey, Ellis, Greer, Kay, Kiowa, Lincoln, Noble, Nowata, Okfuskee, Pottawatomie, Roger Mills and Seminole were declared federal disaster areas on June 7, 2007.
• In Texas, the counties of Cooke, Coryell, Denton, Grayson, Lampasas and Tarrant were declared federal disaster areas on June 29, 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 and floods.
• 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 Oklahoma and Texas

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).