Regulatory Alerts2024-06-04 | FIL-32-2024Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Arkansas Affected by Severe Storms, Straight-line Winds, Tornadoes, and Flooding
The Federal Deposit Insurance Corporation (FDIC) issued regulatory relief measures to assist financial institutions operating in Benton, Boone, and Marion Counties following severe storms, straight-line winds, tornadoes, and flooding in late May 2024. Institutions may extend loan terms, restructure debt, and receive favorable Community Reinvestment Act consideration while benefiting from expedited reporting, publishing, and temporary banking facility requirements. The FDIC will evaluate these adjustments individually to ensure they align with safe-and-sound banking practices and do not trigger examiner criticism, thereby supporting long-term community recovery.
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