Regulatory Relief Guidance to Help Financial Institutions and to Facilitate Recovery in Areas of Florida Affected by Severe Storms, Tornadoes and Flooding

• Severe storms, tornadoes and flooding have caused significant property damage to areas of Florida. A federal disaster was declared August 24th.
• The counties of Brevard, Hendry, Okeechobee, St. Lucie, and Volusia 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 Florida

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/2008/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).