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News Release 2012-145
October 16, 2012
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WASHINGTON — The Federal Financial Institutions Examination Council (FFIEC) today encouraged financial institutions to work constructively with borrowers that have been affected by drought conditions and consider alternatives for prudently restructuring credit facilities as appropriate. The Council recognizes that the effects of natural disasters on the agricultural industry often are transitory, and prudent loan modification efforts can help stabilize borrowers, benefit the long-term interests of financial institutions and their stakeholders, and contribute to the health of local economies.
The Statement is contained in the Press Section available online at www.ffiec.gov.
William Grassano (202) 874-5770