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OCC BULLETIN 2014-26
Subject: Flood Disaster Protection Act
Date: May 30, 2014
To: Chief Executive Officers of All National Banks and Federal Savings Associations, Department and Division Heads, All Examining Personnel, and Other Interested Parties
Description: Interagency Statement on Increased Maximum Flood Insurance Coverage for Other Residential Buildings
The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Farm Credit Administration, the National Credit Union Administration, and the Federal Deposit Insurance Corporation (collectively, the agencies) developed the attached statement. This statement informs financial institutions about supervisory expectations concerning the availability of increased flood insurance coverage under the National Flood Insurance Program (NFIP) for “Other Residential Buildings.”
Please contact Kimberly Hebb, Director for Compliance Policy, at (202) 649-5470.
Grovetta N. Gardineer
1 An endorsement is a written document attached to an insurance policy that modifies the policy by changing the coverage afforded under the policy.