Regulatory Relief Guidance to Help Financial Institutions and to Facilitate Recovery in Curry County and Quay County, New Mexico
FIL-36-2007 April 23, 2007
The Federal Deposit Insurance Corporation (FDIC) has announced a series of steps intended to provide regulatory relief to financial institutions and to facilitate recovery in counties most affected by recent severe storms and tornadoes in eastern New Mexico.
Severe storms and tornadoes that occurred on March 23 and 24 have resulted in significant damage in Curry County and Quay County, New Mexico.
Curry County and Quay Country were declared Federal Disaster Areas on April 2.
The FDIC is encouraging banks to work constructively with borrowers who are experiencing difficulties beyond their control because of damage caused by the storms.
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.
The FDIC will also consider regulatory relief from certain filing and publishing requirements for banks in the affected areas.
FDIC-Supervised Banks (Commercial and Savings)
in New Mexico
Acting Assistant Regional Director Dana English,
Dallas Regional Office, at (972) 761-2416 or
DEnglish@fdic.gov; or Assistant Regional Director
Nann Wright, Dallas Regional Office, at
(972) 761-2013 or NWright@fdic.gov