Regulatory Relief Guidance to Help Financial Institutions and to Facilitate Recovery in Kiowa County, Kansas
FIL-39-2007 May 10, 2007
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 Kiowa County, Kansas, which suffered major damage from tornadoes on May 4, 2007.
Recent tornadoes have caused significant damage in Kiowa County, Kansas.
The county was declared a Federal Disaster Area on May 6, 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.
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.
FDIC-Supervised Banks (Commercial and Savings) in Kansas