Inactive Financial Institution Letters
Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Vermont Affected by Severe Storms
December 23, 2010
FIL-91-2010 - PDF (PDF Help)
|| The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Vermont affected by severe storms.
Severe storms during the period of December 1- 5, 2010, caused significant property damage in areas of Vermont.
A federal disaster was declared on December 22, 2010, for selected counties in Vermont.
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)
Chief Executive Officer
Chief Lending Officer
Supervisory Practices Regarding Depository Institutions and Borrowers Affected by Severe Storms in Areas of Vermont
Assistant Regional Director Gregory Bottone at (781) 794-5514 or GBottone@fdic.gov
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).