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Agencies Issue Statement for Institutions Impacted by Severe Weather

The OCC, Federal Reserve Board, FDIC, National Credit Union Administration and state regulators (collectively, the "Agencies") stated that they will provide regulatory assistance to financial institutions impacted by Hurricane Laura and wildfires in California.

In an interagency statement, the Agencies provided guidance on how institutions affected by the natural disasters should approach (i) lending, (ii) temporary facilities, (iii) publishing requirements, (iv) regulatory reporting requirements, (v) the Community Reinvestment Act (or "CRA") and (vi) investments.

Primary Sources

  1. FRB Press Release: Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices regarding Financial Institutions Affected by Hurricane Laura and California Wildfires

Tags

Regulated Activities
Business Continuity
Regulated Entities
Banking Entities
Body of Law
Banking Law
Jurisdiction
US - Federal
Organization
Regulators' Associations US Banking Regulators
Sub-Author
CSBS, NCUA, FDIC, Federal Reserve Board, Comptroller