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Highlights:
- Severe flooding from recent storms has caused significant property damage to areas of Oregon and Washington.
- The counties of Columbia and Tillamook in Oregon and Grays Harbor and Lewis in Washington have been declared federal disaster areas. Individuals and households in these counties may be eligible for federal assistance.
- The FDIC is encouraging financial institutions to work constructively with borrowers who are experiencing difficulties beyond their control because of damage caused by these disasters.
- 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 Oregon and Washington
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 Affected by
Severe Flooding in Oregon and Washington
Contact:
Assistant Regional Director George Parkerson at
(415) 808-8051 or GParkerson@fdic.gov
Printable Format:
FIL-108-2007 - 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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