The FDIC has released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of the San Carlos Apache Indian Reservation in Arizona affected by severe storms and flooding. It also has released guidance for institutions serving the Fort Peck Indian Reservation and the Crow Tribe Indian Reservation, both in Montana, which were affected by severe winter weather last year.
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.
