Summary: |
The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Missouri affected by severe storms, tornadoes, and flooding. Statement of Applicability to Institutions with Total Assets under $1 Billion: This FIL applies to all FDIC-supervised financial institutions. |
Highlights:
Continuation of FIL-35-2011
Suggested Distribution:
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Note:
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Supervisory Practices Regarding Depository Institutions and Borrowers Affected by Severe Weather in Areas of Missouri
The Federal Deposit Insurance Corporation (FDIC) recognizes the serious impact of severe storms, tornadoes, and flooding on customers and operations of financial institutions in Missouri and will provide regulatory assistance to institutions subject to its supervision. These initiatives will provide regulatory relief and facilitate recovery. The FDIC encourages depository institutions in the affected areas to meet the financial services needs of their communities.
Lending
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Bankers should work constructively with borrowers in communities affected by the severe weather. The FDIC realizes that the effects of natural disasters on local businesses and individuals are often transitory, and prudent efforts to adjust or alter terms on existing loans in affected areas should not be subject to examiner criticism. In supervising institutions affected by the severe weather, the FDIC will consider the unusual circumstances they face. The FDIC recognizes that efforts to work with borrowers in communities under stress can be consistent with safe-and-sound banking practices as well as in the public interest.
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Additional Related Topics:
- Lending
- Investments
- Publishing Requirements
- Consumer Laws
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