Regulatory Alerts2024-10-15 | FIL-74-2024Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Florida Affected by Hurricane Milton
The FDIC has issued regulatory relief for Florida financial institutions affected by Hurricane Milton, encouraging constructive loan modifications and restructuring that align with sound banking practices without triggering examiner criticism. Institutions may receive favorable Community Reinvestment Act consideration for disaster-related community development activities and are advised to monitor impacted municipal securities and loans. The agency also grants temporary relief from specific filing, publishing, and reporting requirements while expediting requests for operational temporary banking facilities in damaged areas.
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