Highlights:
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Severe storms and flooding have caused significant damage to areas of Minnesota, Wisconsin and Ohio.
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In Minnesota, the counties of Fillmore, Houston, Winona, Olmsted, Steele, Wabasha and Dodge have been declared federal disaster areas.
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In Wisconsin, the counties of Crawford, La Crosse, Richland, Sauk and Vernon have been declared federal disaster areas.
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In Ohio, the counties of Allen, Crawford, Hancock, Putnam, Richland and Wyandot have been declared federal disaster areas.
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The FDIC is encouraging banks to work constructively with borrowers who are experiencing difficulties beyond their control because of damage caused by the storms and floods.
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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.
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The FDIC will also consider regulatory relief from certain filing and publishing requirements for banks in the affected areas.
Distribution:
FDIC-Supervised Banks (Commercial and Savings)
in Minnesota, Wisconsin and Ohio
Suggested Routing:
Chief Executive Officer
Compliance Officer
Chief Lending Officer
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For Minnesota, Assistant Regional Director Mark S. Moylan
at (816) 234-9029 or
MMoylan@fdic.gov
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For Wisconsin, Assistant Regional Director Javier S. Serna
at (312) 382-7520 or
JSerna@fdic.gov
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For Ohio, Assistant Regional Director Kirk L. Holt
at (312) 382-7592 or
KHolt@fdic.gov
Note:
FDIC financial institution letters (FILs) may be
accessed from the FDIC's Web site at
www.fdic.gov/news/financial-institution-letters/2007/index.html
.
To receive FILs electronically, please visit
http://www.fdic.gov/about/subscriptions/fil.html
.
Paper copies of FDIC financial institution letters
may be obtained through the FDIC's Public
Information Center, 3501 Fairfax Drive, E-1002,
Arlington, VA 22226 (1-877-275-3342 or 703-562-
2200).
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