Title 12 — Banks and BankingRelease 119-73not60

§3352 Emergency Exceptions for Disaster Areas

Title 12 › Chapter 34A— APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL › § 3352

Last updated Apr 3, 2026|Official source

Summary

Federal agencies that regulate banks and similar institutions can make temporary exceptions to the rules for transactions involving real property inside a declared disaster area. The agency must create the exception within 30 months after the President declares a major disaster under 42 U.S.C. 5170, and must find the exception will help recovery and still be safe and sound. Any exception ends no later than 3 years after the President’s disaster declaration. The agency must publish a Federal Register notice describing the exception and explaining how it helps recovery and keeps things safe. A "disaster area" means an area where the President has declared a major disaster under 42 U.S.C. 5170.

Full Legal Text

Title 12, §3352

Banks and Banking — Source: USLM XML via OLRC

(a)Each Federal financial institutions regulatory agency may, by regulation or order, make exceptions to this chapter, and to standards prescribed pursuant to this chapter, for transactions involving institutions for which the agency is the primary Federal regulator with respect to real property located within a disaster area if the agency—

(1)makes the exception not later than 30 months after the date on which the President determines, pursuant to section 5170 of title 42, that a major disaster exists in the area; and

(2)determines that the exception—

(A)would facilitate recovery from the major disaster; and

(B)is consistent with safety and soundness.

(b)Any exception made under this section shall expire not later than 3 years after the date of the determination referred to in subsection (a)(1).

(c)Any Federal financial institutions regulatory agency shall publish in the Federal Register a statement that—

(1)describes any exception made under this section; and

(2)explains how the exception—

(A)would facilitate recovery from the major disaster; and

(B)is consistent with safety and soundness.

(d)For purposes of this section, the term “disaster area” means an area in which the President, pursuant to section 5170 of title 42, has determined that a major disaster exists.

Reference

Citations & Metadata

Citation

12 U.S.C. § 3352

Title 12 — Banks and Banking

Last Updated

Apr 3, 2026

Release point: 119-73not60