Federal, State Regulators Issue Joint Statement on Hurricane Ida
August 31, 2021
With many communities in Louisiana and surrounding states receiving serious damage from Hurricane Ida, federal and state financial regulatory agencies yesterday issued a joint statement reminding banks of supervisory expectations related to disaster recovery. Regulators encouraged banks to work constructively to meet the financial needs of their communities.
The statement addresses supervisory expectations related to lending activities, operating temporary bank facilities, publishing requirements, regulatory reporting requirements, activities that are eligible for Community Reinvestment Act credit and investments. The agencies also provided links to previously issued examiner guidance for institutions affected by major disasters. Read the statement.