News Release 1995-97 | September 22, 1995

Comptroller Authorizing National Banks in Puerto Rico and the Virgin Islands to Close because of the Emergency

Note to Editors

Comptroller of the Currency Eugene A. Ludwig issued the attached statement on Wednesday, September 20, authorizing national banks in Puerto Rico and in the Virgin Islands to close because of the emergency situation.


WHEREAS, certain areas of Puerto Rico and the Virgin Islands were devastated by Hurricane Marilyn beginning on September 15, 1995, and have been declared a major disaster by President William J. Clinton on September 16, 1995; and because the disruptive conditions, including power outages and lack of telephone and other means of communication, are continuing until regular services are resumed, I find that an emergency exists pursuant to 12 C.F.R 95(b)(1) in the designated disaster areas. Consequently, national banks are authorized to close, or to close any of their banking offices in the affected areas from September 15, 1995, to as long as deemed necessary to resume banking services.

Eugene A. Ludwig 
Comptroller of the Currency

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