Yesterday the FDIC announced steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Colorado affected by severe storms, flooding, landslides, and mudslides. The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe weather. Borrower relief may include extending repayment terms, restructuring existing loans, or easing terms for new loans, if done in a manner consistent with sound banking practices. The FDIC is also considering regulatory relief from certain filing and publishing requirements.
Read More: FDIC Financial Institution Letter