Regulatory Alerts2008-12-25 | 112201Recommendations on Standardization of Loans for the Purchase of Completed Housing
The Supervisory Committee of the National Bank of the Kyrgyz Republic issued recommendations to standardize loans for purchasing completed housing, aiming to reduce credit risk and enhance market transparency. The document mandates strict underwriting criteria, including maximum Debt-to-Income and Expense-to-Income ratios, and requires collateral coverage with a Loan-to-Value ratio not exceeding 60%. It further outlines comprehensive requirements for borrower reliability, property valuation, insurance, and standardized contractual terms for secured lending.
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