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Inactive Financial Institution Letters

Flood Insurance
Updated Standard Flood Hazard Determination Form		 FIL-51-2006
June 21, 2006


Summary: The Federal Emergency Management Agency (FEMA) has issued the attached revised Standard Flood Hazard Determination Form, which includes a new Office of Management and Budget (OMB) control number and a revised expiration date of October 31, 2008. The form's format and content have not changed. The updated form must be used beginning July 1, 2006.

Highlights: 
  • FDIC-supervised banks must use FEMA's Standard Flood Hazard Determination Form when determining whether a building or mobile home offered as security for a loan will be located in a Special Flood Hazard Area. This requirement is pursuant to the National Flood Insurance Reform Act of 1994 and FDIC regulations (12 CFR 339.6).
  • The updated Standard Flood Hazard Determination Form, with the new OMB control number and expiration date, must be used after June 30, 2006.
  • The revised form and instructions are attached to this letter and may also be accessed through FEMA's Web site: http://www.fema.gov/business/nfip/sfhdform.shtm.

Distribution:
FDIC-Supervised Banks (Commercial and Savings)

Suggested Routing:
Chief Executive Officer
Compliance Officer

Attachment:
Standard Flood Hazard Determination Form (OMB No. 1660-0040, Expires October 31, 2008) - PDF 148k (PDF Help)

Contact:
Mira Marshall, Sr. Policy Analyst (Compliance), at mmarshall@fdic.gov or 202-898-3912

Printable Format:
FIL-51-2006 - PDF 26k (PDF Help)

Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2006/index.html.

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.

Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or 703-562-2200).

Last Updated 06/21/2006 communications@fdic.gov