Banks’ federal deposit insurer on Monday announced disaster-related regulatory relief available for banks serving communities in seven states hit from March through May by a range of weather and related disaster conditions.
The Federal Deposit Insurance Corp. (FDIC) is targeting its relief toward areas of Arkansas, Kentucky, Missouri, Oklahoma, Mississippi, Arkansas, and Texas. These areas have been affected by various combinations of severe storms, tornadoes, flooding, wildfires, and in Kentucky, also landslides and mudslides.
The relief – the ability to work with borrowers more who are having difficulty recovering from these events, eased regulatory reporting, potential Community Reinvestment Act consideration for community development loans, etc. – is detailed in eight separate FDIC Financial Institution Letters (FILs). Two of those focus on Kentucky, which was affected by severe weather events in April and May.
- Supervisory Relief to Help Financial Institutions and Facilitate Recovery in Areas of Arkansas Affected by Severe Storms, Tornadoes, and Flooding
- Supervisory Relief to Help Financial Institutions and Facilitate Recovery in Areas of Kentucky Affected by Severe Storms, Straight-line Winds, and Tornadoes
- Supervisory Relief to Help Financial Institutions and Facilitate Recovery in Areas of Missouri Affected by Severe Storms, Straight-line Winds, Tornadoes, and Wildfires
- Supervisory Relief to Help Financial Institutions and Facilitate Recovery in Areas of Oklahoma Affected by Wildfires and Straight-line Winds
- Supervisory Relief to Help Financial Institutions and Facilitate Recovery in Areas of Mississippi Affected by Severe Storms, Straight-line Winds, Tornadoes, and Flooding
- Supervisory Relief to Help Financial Institutions and Facilitate Recovery in Areas of Arkansas Affected by Severe Storms and Tornadoes
- Supervisory Relief to Help Financial Institutions and Facilitate Recovery in Areas of Texas Affected by Severe Storms and Flooding
- Supervisory Relief to Help Financial Institutions and Facilitate Recovery in Areas of Kentucky Affected by Severe Storms, Straight-line Winds, Tornadoes, Flooding, Landslides, and Mudslides
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