Meeting the Financial Needs of Customers Affected by Hurricane Michael and its Aftermath

Regulatory Relief to assist customers in communities affected by recent storms

FIL-59-2018

October 10, 2018

Financial Institution Letter

Regulatory Relief: Meeting the Financial Needs of Customers Affected by Hurricane Michael and its Aftermath


Summary:

The FDIC encourages depository institutions to consider all reasonable and prudent steps to assist customers in communities affected by recent storms.  The FDIC realizes that although the effects of natural disasters on local businesses and individuals can be devastating, they often are transitory.  The FDIC recognizes that efforts to work with borrowers in the affected communities can be consistent with safe-and-sound banking practices and in the public interest.

Statement of Applicability to Institutions under $1 Billion in Total Assets:

This Financial Institution Letter applies to all FDIC-supervised institutions, including community banks.

Suggested Distribution:

FDIC-Supervised Banks (Commercial and Savings) in North Carolina, South Carolina, and Virginia

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