Regulatory Alerts2024-05-30 | FIL-29-2024Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Iowa Affected by Severe Storms
The Federal Deposit Insurance Corporation (FDIC) has announced regulatory relief measures to assist supervised financial institutions and borrowers in Iowa counties severely impacted by May 2024 storms. The guidance permits flexible loan restructuring, favorable Community Reinvestment Act consideration, and expedited reporting, publishing, and temporary facility requirements. Supervisors will evaluate disaster-related modifications and filing delays on a case-by-case basis to ensure safe-and-sound banking practices while supporting local community recovery.
Share