OCC Allows National Banks and Federal Savings Associations in Alabama, Florida, and Mississippi Affected by Hurricane Isaias to Close
The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas of Alabama and Mississippi affected by Hurricane Isaias.
The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas of Alabama and Mississippi affected by Hurricane Isaias.
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Why it matters
The OCC allowing banks in hurricane-affected areas to close offices is a routine regulatory relief measure in response to a natural disaster, with limited systemic or market impact beyond the affected regions.
Sources
OCC
OCC Allows National Banks and Federal Savings Associations in Alabama, Florida, and Mississippi Affected by Hurricane Isaias to Close
The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas of Alabama and Mississippi affected by Hurricane Isaias.