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Financial Institution Letters

Regulatory Relief
Guidance to Help Financial Institutions and to Facilitate Recovery in Storm- and Flood-affected Areas of Texas and Oklahoma
August 14, 2007

Summary: In an update to FIL-61-2007, dated July 6, 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 additional areas of Texas and Oklahoma that are suffering from storms and flooding.


  • Severe storms, tornadoes and flooding have caused significant damage to areas of Texas and Oklahoma.
  • In Texas, 33 counties have now been declared federal disaster areas, with the addition of Guadalupe, Henderson, Nueces, Van Zandt, Walker and Zavala counties on August 7, 2007.
  • In Oklahoma, 17 counties have been declared federal disaster areas, with the addition of Logan, Payne, Pontotoc, Ottawa, Seminole and Washington counties on July 7, 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 and floods.
  • 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 Texas and Oklahoma

Suggested Routing:
Chief Executive Officer
Compliance Officer
Chief Lending Officer

Related Topics:
Publishing Requirements
Consumer Laws

Supervisory Practices Regarding Depository Institutions and Borrowers in Areas Affected by Severe Storms and Flooding in Oklahoma and Texas

Acting Deputy Regional Director Cheryl A. Couch
(972) 761-2070 or ccouch@fdic.gov

Printable Format:
FIL-68-2007 - PDF 37k (PDF Help)

FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/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).

Last Updated 8/14/2007 communications@fdic.gov