With many communities in California affected by wildfires, federal and state financial regulatory agencies today issued a joint statement encouraging institutions operating in the affected areas to continue to meet the financial service needs of their communities. In the statement, the regulators said they will provide appropriate regulatory assistance to affected institutions subject to their supervision.
The statement addresses supervisory expectations related to lending activities, operating temporary bank facilities, publishing requirements, regulatory reporting requirements, activities that are eligible for Community Reinvestment Act credit and investments.
The agencies also provided a link to a complete list of the disaster areas in California and links to previously issued examiner guidance for institutions affected by major disasters.
