Inactive Financial Institution Letters
Regulatory Relief
Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Oregon Affected by Severe Weather |
FIL-10-2011
February 23, 2011 |
Printable Format:
FIL-10-2011 - PDF (PDF Help)
| Summary:
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The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Oregon affected by severe winter storms, flooding, mudslides, landslides, and debris flows. |
Highlights:
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Severe weather caused significant property damage in areas of Oregon from January 13–21, 2011.
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A federal disaster for selected areas in Oregon was declared on February 18, 2011.
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The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe weather.
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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.
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The FDIC also will consider regulatory relief from certain filing and publishing requirements.
Distribution:
FDIC-Supervised Banks (Commercial and Savings) in Oregon
Suggested Routing:
Chief Executive Officer
Compliance Officer
Chief Lending Officer
Related Topics:
Lending
Investments
Publishing Requirements
Consumer Laws
Attachment:
Supervisory Practices Regarding Depository Institutions and Borrowers Affected by Severe Weather in Areas of Oregon
Contact:
Deputy Regional Director J. George Doerr at (415) 808-8019 or JDoerr@fdic.gov
Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2011/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 (877-275-3342 or 703-562-2200).
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