Regulatory Alerts2020-07-01
Circular 115-1 regarding financial institutions
The Bank of the Republic of Haiti issued Circular 115-1 to implement measures supporting borrowers and stabilizing the financial sector during the health crisis. The regulation permits a payment moratorium on commercial and consumer loans until September and December 2020 respectively, while allowing flexible provisioning rules for restructured loans. Additionally, the circular exempts most debts from late fees and prohibits the distribution of dividends for the 2019-2020 fiscal year to consolidate institutional capital.
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