OCC: Banks given OK to close VT offices in flooded areas, but urged to reopen ASAP

Permission to close offices in areas affected by flooding in Vermont was issued by the national bank regulator Wednesday to national banks, federal savings associations, and federal branches and agencies of foreign banks.

The Office of the Comptroller of the Currency (OCC) said its proclamation was issued with the expectation that only those offices directly affected by potentially unsafe conditions would close, and it urged reopening as soon as possible to address customers’ needs.

The OCC also pointed institutions to the guidance provided in OCC Bulletin 2012-28, “Supervisory Guidance on Natural Disasters and Other Emergency Conditions” (September 21, 2012).

OCC Allows National Banks and Federal Savings Associations Affected by Flooding in Vermont to Close

OCC Bulletin 2012-28, Supervisory Guidance on Natural Disasters and Other Emergency Conditions