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Financial Institution Letter | May 12, 2022 |
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Flood Insurance: Revised Interagency Questions and Answers |
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Summary:
The Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (FRB), the National Credit Union Administration (NCUA), and the Farm Credit Administration (FCA) (collectively, the Agencies) are issuing the revised Interagency Questions and Answers Regarding Flood Insurance (Interagency Questions and Answers). The Interagency Questions and Answers address frequently asked questions about the flood insurance requirements of the National Flood Insurance Act of 1968, as amended, and its accompanying regulation. These Interagency Questions and Answers consolidate questions and answers that were proposed by the Agencies in July 2020 and in March 2021.
The revised Interagency Questions and Answers can be found on the FDIC website.
Statement of Applicability:
This Financial Institution Letter (FIL) applies to all FDIC-supervised institutions.
Distribution:
FDIC-Supervised Institutions
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