Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery In Areas of Louisiana and Texas Affected by Hurricane Ike
FIL-90-2008 September 16, 2008
The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Louisiana and Texas affected by Hurricane Ike.
A federal disaster was declared on September 11, 2008, for selected parishes in Louisiana.
A federal disaster was declared on September 7, 2008, for selected counties in Texas.
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 Louisiana and Texas