Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
INACTIVE
This page is no longer active. Its content has expired or been rescinded by the FDIC.
Financial Institution Letter

REGULATORY RELIEF

December 31, 2003
Notes
 


TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Steps to Help Rebuild Areas in California Affected by Major Earthquakes
Summary: The Federal Deposit Insurance Corporation (FDIC) has announced steps to facilitate the rebuilding process in areas of California damaged by recent earthquakes.

The recent earthquakes near San Simeon, California, have resulted in deaths, injuries and property damage. The FDIC is encouraging banks to work constructively with borrowers who, because of the damage from the earthquakes, are experiencing difficulties beyond their control. The FDIC has prepared the attached guidelines, which state that 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 guidelines also address other types of regulatory relief.

For guidance on these and related matters, please contact Assistant Regional Director George J. Doerr in the FDIC's San Francisco Regional Office at (415) 808-8019.

For your reference, FDIC financial institution letters may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2003/index.html .

Michael J. Zamorski
Director

Attachment: Supervisory Practices Regarding Depository Institutions and Borrowers Affected by Earthquake Damage in California

Distribution: FDIC-Supervised Banks (Commercial and Savings) in California

NOTE: Paper copies of FDIC financial institution letters 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).


FIL-100-2003

Last Updated: December 31, 2003