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Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Puerto Rico Affected by Earthquakes

January 24, 2020 / Source: FDIC

Financial Institution Letters

January 24, 2020

Regulatory Relief

Guidance to Help Financial Institutions and Facilitate Recovery in Areas of Puerto Rico Affected by Earthquakes

Printable Format:

FIL-4-2020 - 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 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.



  • Earthquakes have caused significant property damage in areas of Puerto Rico beginning on December 28, 2019, and continuing.
  • A federal 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
  • The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the earthquakes.
  • 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-4-2020

Suggested Distribution:

  • FDIC-Supervised Institutions in Puerto Rico

Suggested Routing:

  • Chief Executive Officer
  • Compliance Officer
  • Chief Lending Officer

Related Topics:

  • Lending
  • Investments
  • Publishing Requirements
  • Consumer Laws
  • Community Reinvestment Act


  • Assistant Regional Director Gregory Bottone at (781) 794-5514 or


Access FDIC Financial Institution Letters (FILs) on the FDIC's website.

Subscribe to receive FILs electronically.

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