Severe storms and flooding that occurred from May 26 through May 31, 2010, have caused significant property damage in areas of Puerto Rico.
Federal disasters were declared on June 24, 2010, for selected municipalities in Puerto Rico.
The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe weather.
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)
in Puerto Rico
Chief Executive Officer
Chief Lending Officer
Supervisory Practices Regarding Depository Institutions and Borrowers Affected by Severe Storms and Flooding in Areas of Puerto Rico - PDF (PDF Help)
Acting Assistant Regional Director Amy T. Monegro at (917) 320-2540 or AMonegro@fdic.gov
FIL-33-2010 - PDF (PDF Help)
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2010/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).