Regulatory Alerts2024-06-28 | FIL-38-2024Added · Updated
Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Iowa Affected by Severe Storms, Flooding, Straight-line Winds, and Tornadoes
The Federal Deposit Insurance Corporation issued regulatory relief measures to assist Iowa financial institutions and borrowers impacted by severe storms, flooding, straight-line winds, and tornadoes. The guidance permits flexible loan restructuring, favorable Community Reinvestment Act consideration, and delayed or waived reporting and publishing requirements for affected depository institutions. Institutions operating in Clay, Emmet, Lyon, Sioux, and Plymouth Counties may also expedite requests for temporary banking facilities while maintaining safe-and-sound lending practices.
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