Regulatory Alerts2024-07-16 | FIL-40-2024Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Texas Affected by Hurricane Beryl
The Federal Deposit Insurance Corporation (FDIC) issued regulatory relief measures to assist supervised financial institutions operating in Texas counties impacted by Hurricane Beryl. Institutions may extend loan repayment terms, restructure existing loans, and receive favorable Community Reinvestment Act consideration while benefiting from expedited reporting, publishing, and temporary facility requirements. The FDIC encourages constructive borrower engagement, noting that prudent loan modifications and disaster-related compliance adjustments align with safe-and-sound banking practices and will not trigger examiner criticism.
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