In preparation for the possible impact of Hurricane Irma, the Department would like to remind all Georgia state-chartered institutions of emergency closing notification procedures.

Add to Calendar
Thu, 09/07/2017 - 1:00pm to Sat, 09/16/2017 - 1:00pm

In preparation for the possible impact of Hurricane Irma, the Department would like to remind all Georgia state-chartered institutions of emergency closing notification procedures.  Georgia State-chartered financial institutions have the discretion to close business operations in the event of a natural disaster or other emergency, including situations where an emergency is imminent.   Georgia state-chartered financial institution offices directly affected by severe weather conditions may close under the conditions set forth in O.C.G.A. § 7-1-111 and Department Rule 80-5-2-.02.   All financial institutions are reminded that current regulations provide for management to exercise its own discretion, with notification to the Department, in closing any institution for one business day (renewal for successive days) upon its determination that the safety of customers, employees, or assets would be in jeopardy due to civil disorder, fire, acts of God, or similar circumstances which render the institution unable to conduct business in a safe and sound manner.  

If your institutions’ emergency contact information has recently changed, then please log on to the Emergency Communications System (“ECS”) of the Federal Reserve Bank of St. Louis to update your emergency contact information.  Use of the ECS allows the Department to quickly establish a two-way communication channel with financial institutions, provide key updates, ascertain the operational status of an institution and provide ongoing updates throughout an emergency situation or crisis. 

If you have any questions or concerns about logging into the ECS system, please contact ECS support at ECS.Support@stls.frb.org.

Closing Notification Procedures

Those offices closing due to damage or power outages caused by the severe weather should make every effort to reopen as quickly as possible to address the banking needs of their customers.  Office closings should be communicated to the Department by e-mail, telephone, or fax as soon as transmission is feasible.   Closures should be communicated to Murali Ramachandran at MRamachandran@dbf.state.ga.us or 770-986-1645.