FIL-24-2018 Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Alabama Affected by Severe Storms and Tornadoes
Summary:
The
Statement of Applicability to Institutions with Total Assets under
Highlights:
* Severe storms and tornadoes caused significant property damage in areas of
* A federal disaster for selected areas in
* The
* 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 local community and serve the long-term interests of the lending institution.
* Banks may receive favorable Community Reinvestment Act (CRA) consideration for community development loans, investments, and services in support of disaster recovery.
* The
Continuation of FIL-24-2018
Suggested Distribution:
* FDIC-Supervised Banks (Commercial and Savings) in
Suggested Routing:
* Chief Executive Officer
* Compliance Officer
*
Related Topics:
* Lending
* Investments
* Publishing Requirements
* Consumer Laws
* Community Reinvestment Act
Contact:
*
Note:
FDIC Financial Institution Letters (FILs) may be accessed from the
To receive FILs electronically, please visit www.fdic.gov/about/subscriptions/fil.html.
Paper copies may be obtained through the
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