Regulatory Relief Guidance to Help Financial Institutions and Facilitate Recovery in Areas of North Carolina Affected by Severe Weather

• Severe storms, tornadoes, and flooding caused significant property damage in areas of North Carolina on April 16, 2011.
• A federal disaster for selected areas in North Carolina was declared on April 19, 2011.
• The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe weather.
• 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 also will consider regulatory relief from certain filing and publishing requirements.

Suggested Distribution:
FDIC-Supervised Banks (Commercial and Savings) in North Carolina

Suggested Routing:
Chief Executive Officer
Compliance Officer
Chief Lending Officer

Note:
FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2011/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 (877-275-3342 or 703-562-2200).