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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

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Inactive Financial Institution Letters

Regulatory Relief
Guidance to Help Financial Institutions and to Facilitate Recovery in Areas of Minnesota Affected by Severe Storms and Flooding
April 20, 2009

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 parts of western Minnesota affected by recent severe storms and flooding.

  • Severe storms and flooding that began on March 16, 2009, have caused significant property damage in parts of western Minnesota.
  • A federal disaster was declared on April 9, 2009, which was amended on April 10 to include individual assistance for the counties of Clay, Norman, Traverse, and Wilkin.
  • The FDIC is encouraging banks to work constructively with borrowers who are experiencing difficulties beyond their control because of damage caused by the severe storms and flooding.
  • 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.

FDIC-Supervised Banks (Commercial and Savings) in Minnesota

Suggested Routing:
Chief Executive Officer
Compliance Office
Chief Lending Officer

Related Topics:
Publishing Requirements
Consumer Laws

Supervisory Practices Regarding Depository Institutions And Borrowers Affected By Severe Storms and Flooding in Minnesota

Acting Deputy Regional Director Kurt R. Hagedorn at (816) 234-8161 or

Printable Format:
FIL-17-2009 - PDF (PDF Help)

FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at

To receive FILs electronically, please visit

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).

Last Updated 4/20/2009

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