District Circular Letters

January 28, 2002

BANKING SUPERVISION AND REGULATION:
FLOOD ZONE REMAPPING

To State Member Banks
and Others Concerned
in the Twelfth Federal Reserve District

Revisions Affecting the Los Angeles River Special Flood Hazard Areas

Enclosed is a notice from the Federal Emergency Management Agency (FEMA) regarding flood zone revisions for twelve communities in the Los Angeles, California area. As a result of this revision, in many Los Angeles special flood hazard areas, there is no longer a federal obligation for lenders to require flood insurance on designated loans.

Please note the two workshops for lenders and insurance agents that are detailed in the enclosed notice.

Additional Information

All circulars and documents are available on the Internet through the Federal Reserve Bank of San Francisco's Internet site, at http://www.frbsf.org/banking/letters.

For additional information about the flood zone revisions, please contact our Banking Supervision and Regulation Department at (415) 974-3329.

FEDERAL RESERVE BANK OF SAN FRANCISCO

Enclosures (Note: Enclosure is not available online)