The Federal Deposit Insurance Corporation has announced supervisory and regulatory relief for FDIC-supervised institutions affected by Typhoon Sinlaku in the Northern Mariana Islands, aimed at supporting banking operations and local recovery. The measures cover affected areas including Northern Islands, Rota, Saipan, and Tinian Municipalities, and include a signal that the agency will not criticize prudent loan modifications or other constructive steps taken to help borrowers facing storm-related hardship. The relief package encourages institutions to extend repayment terms, restructure existing loans, ease terms for new credit, and monitor securities and municipal loans in affected areas using prudent risk management. Banks may receive Community Reinvestment Act consideration for eligible community development loans, investments, and services tied to disaster recovery in federally designated disaster areas. The FDIC also said it will consider delays in Reports of Income and Condition and other filings where causes are beyond an institution’s control, and it may provide flexibility on publishing and related requirements for branch closings, relocations, and temporary facilities. Requests to operate temporary banking facilities will be expedited through the San Francisco Regional Office, with telephone notice generally sufficient at the outset. For principal dwelling-secured loans, the notice also points to the Regulation Z option for consumers to waive or modify the three-day rescission period in a bona fide personal financial emergency. FEMA declared a federal disaster for selected areas of the Northern Mariana Islands on April 23, 2026, following typhoon damage from April 11 to April 18, 2026, and said additional area designations may follow once damage assessments are completed.
Federal Deposit Insurance Corporation 2026-05-08
Federal Deposit Insurance Corporation offers disaster-related regulatory relief for Northern Mariana Islands institutions after Typhoon Sinlaku
The Federal Deposit Insurance Corporation announced supervisory and regulatory relief for FDIC‑supervised institutions affected by Typhoon Sinlaku in the Northern Mariana Islands, including Northern Islands, Rota, Saipan, and Tinian. The FDIC will not criticize prudent loan modifications or other constructive measures to assist borrowers, will consider delays in regulatory filings beyond an institution’s control, may provide flexibility on branch changes and temporary facilities, and will recognize eligible disaster-related activities for Community Reinvestment Act purposes.