On October 17th, the Office of the Comptroller of the Currency (the "OCC"), Federal Reserve Board, FDIC, Farm Credit Administration, and National Credit Union Administration (the "Agencies") finalized two new questions and answers. These questions and answers address loans in areas having special flood hazards. One relates to insurable value and the other relates to force placement. The Federal Register notice also withdraws one question and answer regarding insurable value. The Agencies also have significantly revised two questions and answers that were initially proposed on July 21, 2009 regarding force placement of flood insurance. Additionally, the Agencies are proposing revision to a previously finalized question and answer. These three revised questions and answers are being proposed for comment. The effective date of the final questions and answers is October 17, 2011. Comments on the proposed questions and answers should be submitted on or before December 1, 2011. 76 FR 64175. See also Federal Reserve Board Press Release; OCC Bulletin.