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Beginning in January 2014, The Bank Board Letter, one of the nation's premier newsletters for directors of financial institutions and their holding companies, will be available in print and digital editions.
To introduce you to the redesigned and expanded Bank Board Letter, we are offering a 20% discount off the regular one-year subscription price of $74. (Current subscribers may take advantage of this special offer by extending their subscriptions.)
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Oklahoma: FDIC Provides Guidance to Help Facilitate Recovery in Areas Affected by Severe Storms and Tornadoes
May 21 - The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Oklahoma affected by severe storms and tornadoes.
- Severe storms and tornadoes caused significant property damage and casualties in areas of Oklahoma beginning May 18, 2013, and continuing.
- A federal disaster for selected areas in Oklahoma was declared on May 20, 2013. Additional designations may be made after damage assessments are completed in the affected areas. A current list of designated areas is available at www.fema.gov.
- The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe weather.
- 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 local community and serve the long-term interests of the lending institution.
- Banks may receive favorable Community Reinvestment Act consideration for community development loans, investments, and services in support of disaster recovery.
- The FDIC also will consider regulatory relief from certain filing and publishing requirements.
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