The FDIC released guidance this week with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Mississippi recently affected by severe storms from April 8-11. The agency encouraged banks in affected areas to work constructively with borrowers experiencing difficulties due to severe weather, including extending repayment terms, restructuring existing loans or easing terms for new loans. The agency said 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.
FDIC, OCC release stress test scenarios
The FDIC and OCC released the market scenarios they will use in their upcoming stress tests for financial institutions. The agencies coordinated with the Federal Reserve to develop the scenarios, with the Fed releasing its scenarios last week.
