LOU BANK State of Emergency Storms


On Dec. 15, LOU BANK declared state of emergency due to storms.


  • LOU BANK reported Governor Edwards declared State of Emergency for severe storms and tornadoes on Dec. 13, 2022, to Jan. 12, 2023, in Proclamation No. 183 JBE 2022.
  • Based on the declaration, LOU BANK deemed the storm conditions to constitute an emergency relative to financial institutions and to their employees and customers.
  • Declaration Overview
  • Authorized State-chartered financial institutions to temporarily close an existing branch office(s), establish a temporary location(s), and reduce operations, products, services.
  • LOU BANK requirements regarding temporary closure of branch office are expressly waived for FIs whose operations have been interrupted by the storms and tornadoes.
  • Institutions must report to LOU BANK, within 3 days of a temporary relocation with closed branch information, including name and physical address, among others.
  • State-chartered FIs are authorized to limit hours, reduce functions, close certain days of the week as a result of the storms; all changes must be posted at affected location.
  • State Guidance
  • LOU BANK reissued its Emergency Preparedness Guide from Aug. 2021, to assist financial institutions in working with their individual Emergency Preparedness Plans.
  • Guide includes series of FAQs regarding emergency procedures and templates.
  • Sep. 2024 LOU LEG Renewed State of Emergency
  • On Sep. 20, 2024, LOU LEG issued Executive Order (EO) JML 24-149 to extend Proclamation No. 183 JBE 2022, which is currently effective until Sep. 22, 2024.
  • Order effective upon signature, remains in effect from Sep. 20, 2024 to Oct. 20, 2024.
  • Oct. 2024 LOU LEG State of Emergency Renewed
  • On Oct. 18, 2024, LOU LEG issued Executive Order JML 24-160 to extend Proclamation No. 183 JBE 2022, which is currently effective through Oct. 20, 2024.
  • Order effective upon signing, remains in effective from Oct. 18, 2024 to Nov. 17, 2024.

Regulators LOU BANK; LOU LEG
Entity Types Bank; CNSM; Thrift
Reference EO JML 24-160, 10/18/2024; EO JML 24-149, 9/20/2024; PR, 12/15/2022; Proc 183 JBE 2022, 12/13/2022;
Functions BCS; Compliance; Financial; Legal; Operations; Reporting
Countries United States of America
Category
State
Products Banking; Deposits; Loan
Regions Am
Rule Type Final
Rule Date 12/15/2022
Effective Date 11/17/2024
Rule Id 156680
Linked to N/A
Reg. Last Update 10/18/2024
Report Section US Banking

Last substantive update on 10/24/2024