National banks, federal savings associations (FSAs), and federal branches and agencies of foreign banks are allowed to close offices affected by wildfires and high winds in California at their discretion, according to a proclamation issued Wednesday by the Office of the Comptroller of the Currency (OCC).
Banks may close affected offices “for as long as deemed necessary for bank operation or public safety,” the proclamation states.
The OCC, in a release, underscored its expectation that only those banks directly affected will close. “Those offices should make every effort to reopen as quickly as possible to address the banking needs of their customers,” it stated.
OCC Bulletin 2012-28, Supervisory Guidance on Natural Disasters and Other Emergency Conditions, provides guidance on what actions bankers could consider implementing in the event of a natural disaster or other emergency, it said.
OCC Allows National Banks and Federal Savings Associations Affected by California Wildfires to Close