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

Highlights:

• Severe storms, tornadoes and flooding have caused significant damage to areas of Texas and Oklahoma.
• In Texas, 33 counties have now been declared federal disaster areas, with the addition of Guadalupe, Henderson, Nueces, Van Zandt, Walker and Zavala counties on August 7, 2007.
• In Oklahoma, 17 counties have been declared federal disaster areas, with the addition of Logan, Payne, Pontotoc, Ottawa, Seminole and Washington counties on July 7, 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 Texas and Oklahoma

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).