Regulatory Relief Guidance to Help Financial Institutions and to Facilitate Recovery in Alabama and Georgia

GuidanceFederal Deposit Insurance Corporation (FDIC)Disaster Recovery / Business Continuity

Highlights:

- Severe thunderstorms and tornadoes have resulted in significant damage in Sumter County, Georgia, and Coffee County, Alabama.

- The FDIC is encouraging banks to work constructively with borrowers who are experiencing difficulties beyond their control because of damage caused by the storms.

- 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 will also consider regulatory relief from certain filing and publishing requirements.

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