Regulatory Alerts2024-07-31 | FIL-51-2024Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Kentucky Affected by Severe Storms, Straight-line Winds, Tornadoes, Landslides, and Mudslides
The Federal Deposit Insurance Corporation (FDIC) has issued regulatory relief to assist FDIC-supervised financial institutions in Kentucky’s disaster-affected counties following severe storms, tornadoes, and landslides. Institutions may extend loan terms, restructure existing loans, and receive favorable Community Reinvestment Act consideration without examiner criticism, while reporting delays and publishing requirements for branch operations will be flexibly evaluated. Affected banks are encouraged to notify the Chicago Regional Office of filing delays or requests for temporary facilities, ensuring continued community service and compliance with safe-and-sound banking practices.
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