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Subject: Hurricane Katrina
Date: February 7, 2007
To: Chief Executive Officers of All National Banks, Federal Branches and Agencies, Department and Division Heads, and All Examining Personnel
Description: Working with Customers
The guidance attached to this bulletin continues to apply to federal savings associations.
The Office of the Comptroller of the Currency (OCC), the other federal financial institutions regulatory agencies1 and the state supervisory authorities in Alabama, Louisiana, and Mississippi (collectively, the agencies) have jointly issued the attached reminder of Supervisory Guidance for Financial Institutions Affected by Hurricane Katrina. The guidance reminds bankers and examiners of the principles outlined in the agencies' 2006 Hurricane Katrina Examiner Guidance2 and reiterates that banks have flexibility in their workout or restructuring arrangements with customers who still face financial uncertainties in the aftermath of Hurricane Katrina.
For additional information or assistance related to Hurricane Katrina, please contact your supervisory office or Fred Finke at (202) 874-4468.
Emory W. Rushton
1 The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, and the National Credit Union Administration.