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Regulatory Relief: Guidance to Help Financial Institutions and Facilitate Recovery in Area…

August 23, 2017 / Source: FDIC

Financial Institution Letters

August 23, 2017

Regulatory Relief
Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Michigan Affected by Severe Storms and Flooding

Printable Format: FIL-35-2017 - PDF (PDF Help)


The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Michigan affected by severe storms.

Statement of Applicability to Institutions with Total Assets under $1 Billion: This Financial Institution Letter applies to all FDIC-supervised financial institutions.


  • Severe storms caused significant property damage in areas of Michigan from June 22 through June 27, 2017.
  • A federal disaster for selected areas in Michigan was declared on August 2, 2017. Additional designations may be made after damage assessments are completed in the affected areas. A current list of designated areas is available at
  • The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe weather.
  • Extending repayment terms, restructuring existing loans, or easing terms for new loans, if done in a manner consistent with sound banking practices, can contribute to the health of the local community and serve the long-term interests of the lending institution.
  • Banks may receive favorable Community Reinvestment Act (CRA) 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.

Continuation of FIL-35-2017

Suggested Distribution:

FDIC-Supervised Banks (Commercial and Savings) in Michigan

Suggested Routing:

Chief Executive Officer
Compliance Officer
Chief Lending Officer

Related Topics:

Publishing Requirements
Consumer Laws
Community Reinvestment Act


Assistant Regional Director Jeffrey Forbes at (312) 382-7550 or


FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's website at

To receive FILs electronically, please visit

Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).