Regulatory Relief Guidance to Help Financial Institutions and to Facilitate Recovery in Areas of Indiana Affected by Severe Storms and Flooding
FIL-50-2008 June 17, 2008
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 areas of Indiana affected by recent severe storms and flooding.
Severe storms and flooding have caused significant property damage to areas of Indiana.
Individual disaster assistance is available in the Indiana counties of Bartholomew, Hancock, Johnson, Marion, Monroe, Morgan, Vermillion, and Vigo Counties. Other counties are eligible for public 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.
FDIC-Supervised Banks (Commercial and Savings)