Concessions in Respect of Credit Granted to Flood Affected Borrowers

CENTRAL BANK OF SRI LANKA BANK SUPERVISION DEPARTMENT

1 Mav 2017 CIRCULAR No.03 of20l7 Concessions in Respect of Credit Granted to Flood Affected Borrowers Licensed banks may grant the following concessions on a case-by-case basis to their borrowers who have been affected by the recent floods, adverse weather conditions and connected circumstances in terms of the national policy adopted to facilitate rehabilitation of businesses and normal operations of such borrowers in the national interest. I Moratorium 1.1 Grant a moratorium of not exceeding 3 months with effect from today in respect of all performing credit facilities of borrowers as at 25 May,2017 which have been affected by floods, adverse weather conditions and connected circumstances. 2 Penal lnterest 2.1 Waive the penal interest on overdue loans of the borrowers under the above moratorium and non-performing borrowers as affected above who are willing to settle their loans on rescheduled terms as agreed with banks in order for them to recommence/restructure their business activities. Licensed banks shall maintain necessary documents to substantiate grant of such concessions. Licensed banks shall report details of such borrowers in the annexed format to the Director of Bank Supervision by 30 Iune 2017 . 3 Reporting 3.1 3.2 \hM,"ry Actg. Director of Bank Supervision

Annex Circular No 3 of 2017 Concessions in Respect of Credit Granted to Flood Affected Borrowers Details of Borrowers Affected by Recent Floods Name of Bank: I certifu that the information submitted in the above return is to the best of rny knowledge and belief, correct. Serial Number Name of Borrower Name of Branch Divisional Secretariat Purpose of Loan Amount Outstanding Rs.'000s (As at 25.05.2017) Please e-mail to dbsd@cbsl.lk by 30 June 2017 Name and Designation of Authorised Officer