Inactive Financial Institution Letters
Regulatory Relief
Guidance to Help Financial Institutions and Facilitate Recovery in Areas of New Mexico Affected by Severe Weather |
FIL-57-2010
September 15, 2010 |
Printable Format:
FIL-57-2010 - PDF (PDF Help)
| Summary:
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The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of New Mexico affected by severe storms and flooding. |
Highlights:
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Severe storms and flooding caused significant property damage in areas of New Mexico during the period of July 25 to August 9, 2010.
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A federal disaster was declared on September 13, 2010, for selected counties in New Mexico.
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The FDIC is encouraging banks to work constructively with borrowers experiencing difficulties beyond their control because of damage caused by the severe weather.
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Extending repayment terms, restructuring existing loans or easing terms for new loans, if done in a manner consistent with sound banking practices, can contribute to the health of the community and serve the long-term interests of the lending institution.
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The FDIC also will consider regulatory relief from certain filing and publishing requirements.
Distribution:
FDIC-Supervised Banks (Commercial and Savings)
in New Mexico
Suggested Routing:
Chief Executive Officer
Compliance Officer
Chief Lending Officer
Related Topics:
Lending
Investments
Publishing Requirements
Consumer Laws
Attachment:
Supervisory Practices Regarding Depository Institutions and Borrowers Affected by Severe Weather in Areas of New Mexico - PDF (PDF Help)
Contact:
Acting Deputy Regional Director Joseph A. Meade at (972) 761-2068 or Jmeade@fdic.gov
Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2010/index.html.
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).
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