Federal agencies this week issued supplemental guidance to their Oct. 30 statements about financial institutions and borrowers affected by Hurricane Sandy.

The agencies include the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the NCUA and the Office of the Comptroller of the Currency.

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Prudent efforts by institutions to meet customers' cash and financial needs generally will not be subject to examiner criticism, the guidance said. When consistent with safe and sound banking and credit union practices, these efforts may include:

• Waiving ATM fees for customers and non-customers
• Increasing ATM daily cash withdrawal limits
• Waiving overdraft fees
• Waiving early withdrawal penalties on time deposits
• Waiving availability restrictions on insurance checks
• Easing restrictions on cashing out-of-state and non-customer checks
• Easing credit card limits and credit terms for new loans
• Waiving late fees for credit card and other loan balances
• Offering payment accommodations, such as allowing loan customers to defer or skip some payments or extending the payment due dates, which would avoid delinquencies and negative credit bureau reporting caused by storm-related disruptions

The agencies realize the effects of natural disasters on local businesses and individuals are often transitory, the guidance said, and prudent efforts to adjust or alter terms on existing loans in affected areas should not be subject to examiner criticism.

However, financial institutions should perform a comprehensive review of an affected borrower's financial condition in an effort to implement a prudent loan workout arrangement.