To All Depository Institutions and Others Concerned
in the Second Federal Reserve District:

The federal financial institutions regulatory agencies continue to receive inquiries from financial institutions on regulatory and reporting issues related to Hurricanes Katrina and Rita.

See the link below for the complete set of questions and answers issued by the agencies as of November 23, 2005, which includes the first set of Q&As previously issued in SR letter 05-20 on October 14, 2005.

The issue date of a Q&A is indicated at the end of each question. The new Q&As provide guidance on

• past due and nonaccrual reporting, including troubled debt restructurings, for commercial loans,
• past due and nonaccrual reporting for small business loans subject to across-the-board payment deferral arrangements,
• temporary hardship programs for non-credit card retail lending, including residential mortgage lending, and
• treatment of municipal bond obligations.

Additional hurricane-related guidance is available on the Hurricane Katrina web page on the Board of Governors of the Federal Reserve System website.

SR Letter 05-24
Interagency Questions and Answers (supersedes SR Letter 05-20)

Contact:
Caroline T. Frawley
Vice President
Risk Management
(212) 720-1215
caroline.frawley@ny.frb.org

Contact:
Public Affairs
(212) 720-6130
general.info@ny.frb.org