FDIC - "Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Puerto Rico Affected by Earthquakes"

Title: Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Puerto Rico Affected by Earthquakes Source: FDIC Data/Action: Financial Institution Letters Date: 1/24/2020 Text Preview: ...Earthquakes Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Puerto Rico affected by earthquakes. Statement of Applicability to Institutions with Total Assets under $1 Billion: This Financial Institution Letter applies to all FDIC-supervised financial institutions. Suggested Distribution: FDIC-Supervised Institutions in Puerto Rico Highlights:  Earthquakes... ...disaster for selected areas affected in Puerto Rico was declared on January 16, 2020. Additional designations may be made after damage assessments are completed in the affected areas. A current list of designated areas is available at www.fema.gov.  The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the earthquakes... ...loans, investments, and services in support of disaster recovery.  The FDIC also will consider regulatory relief from certain filing and publishing...