Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official.
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure.
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
INACTIVE
This page is no longer active. Its content has expired or been rescinded by the FDIC.
Financial Institution Letter
Regulatory Relief Guidance to Help Financial Institutions and to Facilitate Recovery in Areas of Oregon and Washington Affected by Severe Flooding
December 13, 2007
Notes
 
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 areas of Oregon and Washington state affected by severe flooding.

Highlights:

  • Severe flooding from recent storms has caused significant property damage to areas of Oregon and Washington.
  • The counties of Columbia and Tillamook in Oregon and Grays Harbor and Lewis in Washington have been declared federal disaster areas. Individuals and households in these counties may be eligible for federal assistance.
  • The FDIC is encouraging financial institutions to work constructively with borrowers who are experiencing difficulties beyond their control because of damage caused by these disasters.
  • 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 Oregon and Washington

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-108-2007
Attachments
Attachment: Supervisory Practices Regarding Depository Institutions and Borrowers Affected by Severe Flooding in Oregon and Washington
Last Updated: December 13, 2007