Regulatory Relief Guidance to Help Financial Institutions and to Facilitate Recovery in Areas of Alabama, Mississippi, Louisiana and Texas Affected by Hurricane Gustav
FIL-87-2008 September 3, 2008
The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in areas of Alabama, Mississippi, Louisiana and Texas affected by Hurricane Gustav.
A federal disaster was declared on August 29, 2008, for Louisiana and selected counties in Texas.
A federal disaster was declared on August 30, 2008, for all counties in Alabama and Mississippi.
The FDIC is encouraging banks to work constructively with borrowers who are experiencing difficulties beyond their control because of damage caused by the hurricane.
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.
Bankers and consumers who have questions related to the hurricane may call the FDIC toll- free at 1-877-ASK-FDIC, which is 1-877-275- 3342.
FDIC-Supervised Banks (Commercial and Savings)
in Alabama, Mississippi, Louisiana and Texas
For Alabama, Assistant Regional Director David
Crumby at (678) 916-2173 or email@example.com.
For Mississippi, Louisiana and Texas, Assistant
Regional Director Wayne Nichols at (901) 821-
5203 or firstname.lastname@example.org.