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Financial Institution Letters

Regulatory Relief
Guidance to Help Financial Institutions and to Facilitate Recovery in Areas of Southern Texas Affected by Hurricane Dolly
FIL-72-2008
August 4, 2008


Summary: The Federal Deposit Insurance Corporation has announced a series of steps intended to facilitate the rebuilding process in areas of southern Texas damaged by Hurricane Dolly and associated severe storms.

Highlights:
  • Hurricane Dolly and associated severe storms have resulted in wind damage, heavy rainfall and flooding in southern Texas.
  • Individual disaster assistance is available in the Texas counties of Cameron, Hidalgo, and Willacy. Other counties may be eligible for state disaster assistance.
  • The FDIC is encouraging banks to work constructively with borrowers who are experiencing difficulties beyond their control because of damage caused by Hurricane Dolly and associated storms.
  • 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.

Distribution:
FDIC-Supervised Banks (Commercial and Savings) in Texas

Suggested Routing:
Chief Executive Officer
Compliance Officer
Chief Lending Officer

Related Topics:
Lending
Investments
Publishing Requirements
Consumer Laws

Attachment:
Supervisory Practices Regarding Depository Institutions and Borrowers in Areas of Southern Texas Affected by Hurricane Dolly

Contact:
Assistant Regional Director Joseph Meade at jmeade@fdic.gov or (972) 761-2068.

Printable Format:
FIL-72-2008 - PDF (PDF Help)

Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2008/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 8/4/2008 communications@fdic.gov