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OCC Bulletin 2014-26
May 30, 2014
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Chief Executive Officers of All National Banks and Federal Savings Associations, Department and Division Heads, All Examining Personnel, and Other Interested Parties
The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Farm Credit Administration, the National Credit Union Administration, and the Federal Deposit Insurance Corporation (collectively, the agencies) developed the attached statement. This statement informs financial institutions about supervisory expectations concerning the availability of increased flood insurance coverage under the National Flood Insurance Program (NFIP) for “Other Residential Buildings.”
This guidance is applicable to all OCC-supervised institutions.
Please contact Kimberly Hebb, Director for Compliance Policy, at (202) 649-5470.
Grovetta N. Gardineer
Deputy Comptroller for Compliance Operations and Policy
1 An endorsement is a written document attached to an insurance policy that modifies the policy by changing the coverage afforded under the policy.