Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Georgia Affected by Severe Storms and Flooding
FIL-57-2009 September 29, 2009
The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Georgia affected by recent severe storms and flooding.
Severe storms and flooding that began on September 18, 2009, have caused significant property damage in Georgia.
A federal disaster was declared on September 24, 2009, and includes individual assistance for Carroll, Cherokee, Cobb, Douglas and Paulding counties.
The FDIC is encouraging banks to work constructively with borrowers 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 also will consider regulatory relief from certain filing and publishing requirements.
FDIC-Supervised Banks (Commercial and Savings)