Five major banks have agreed to provide mortgage relief to customers affected by wildfires that have ravaged thousands of homes, businesses and structures in the Los Angeles area, California Gov. Gavin Newsom said.

Governor Newsom on Monday proposed $2.5 billion in additional funding for emergency response and recovery efforts to the LA wildfires.

California Gov. Gavin Newsom (D) announced on Saturday commitments from five major banks to offer homeowners affected by the wildfires a 90-day grace period on their mortgage payments. The financial institutions agreed not to report these payments to credit reporting agencies.