Title 12, Banks and BankingRelease 119-110

§3352 Emergency Exceptions for Disaster Areas

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

Last updated Sep 22, 2026|Official source

Summary

Federal banking regulators can make temporary exceptions to the rules for real-estate transactions when the President declares a major disaster in an area. The exception can cover transactions tied to institutions the agency mainly oversees when the property is in the disaster area. The agency must make the exception no later than 30 months after the President’s disaster declaration. The agency must decide the exception will help recovery and still keep the institution safe and sound. Any exception ends no later than 3 years after the President’s declaration. The agency must publish a notice in the Federal Register that describes the exception and explains how it helps recovery and how it stays consistent with safety and soundness. A "disaster area" means an area the President has declared a major disaster.

Full Legal Text

Title 12, §3352

Banks and Banking, Source: USLM XML via OLRC

(a)In general

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)3-year limit on exceptions

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)Publication required

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)“Disaster area” defined

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

Sep 22, 2026

Release point: 119-110