Highlights:
- Severe storms and flooding have caused significant damage to areas of Minnesota, Wisconsin and Ohio.
- In Minnesota, the counties of Fillmore, Houston, Winona, Olmsted, Steele, Wabasha and Dodge have been declared federal disaster areas.
- In Wisconsin, the counties of Crawford, La Crosse, Richland, Sauk and Vernon have been declared federal disaster areas.
- In Ohio, the counties of Allen, Crawford, Hancock, Putnam, Richland and Wyandot have been declared federal disaster areas.
- The FDIC is encouraging banks to work constructively with borrowers who are experiencing difficulties beyond their control because of damage caused by the storms and floods.
- Extending repayment terms, restructuring existing loans or easing terms for new loans, if done in a manner consistent with sound banking practices, can contribute to the health of the community and serve the long-term interests of the lending institution.
- The FDIC will also consider regulatory relief from certain filing and publishing requirements for banks in the affected areas.
Distribution:
FDIC-Supervised Banks (Commercial and Savings)
in Minnesota, Wisconsin and Ohio
Suggested Routing:
Chief Executive Officer
Compliance Officer
Chief Lending Officer
Related Topics:
Lending
Investments
Publishing Requirements
Consumer Laws
Attachment:
Supervisory Practices Regarding Depository Institutions and Borrowers in Areas Affected by Severe Storms and Flooding in Minnesota, Wisconsin and Ohio
Contacts:
-
For Minnesota, Assistant Regional Director Mark S. Moylan
at (816) 234-9029 or MMoylan@fdic.gov
- For Wisconsin, Assistant Regional Director Javier S. Serna
at (312) 382-7520 or JSerna@fdic.gov
-
For Ohio, Assistant Regional Director Kirk L. Holt
at (312) 382-7592 or KHolt@fdic.gov
Printable Format:
FIL-75-2007 - PDF (PDF Help)
Note:
FDIC financial institution letters (FILs) may be
accessed from the FDIC's Web site at
www.fdic.gov/news/news/financial/2007/index.html.
To receive FILs electronically, please visit
http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC financial institution letters
may be obtained through the FDIC's Public
Information Center, 3501 Fairfax Drive, E-1002,
Arlington, VA 22226 (1-877-275-3342 or 703-562-
2200).
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