Regulatory Alerts2024-11-05 | FIL-79-2024Guidance to Help Financial Institutions and Facilitate Recovery in Areas of New Mexico Affected by a Severe Storm and Flooding
The Federal Deposit Insurance Corporation (FDIC) issued regulatory relief measures to assist supervised financial institutions in New Mexico’s Chaves County following a severe storm and flooding that caused significant property damage. The agency encourages lenders to flexibly restructure loans and extend repayment terms without examiner criticism, while granting favorable Community Reinvestment Act consideration for related community development activities. Additionally, the FDIC will waive or delay certain filing and publishing requirements for affected institutions and expedite approvals for temporary banking facilities to ensure continuous service delivery.
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