Regulatory Alerts2019-07-10
09-1 Restructuring of Loans Granted to the Hotel Sector and the Establishment of Related Specific Provisions
Issued by the Central Bank of Haiti (BRH), this circular authorizes commercial banks to mutually restructure viable hotel sector loans by adjusting interest rates and amortization schedules. It mandates a 5% specific provision for restructured loans, exempts the associated gourde and dollar funding from mandatory reserve requirements, and requires quarterly detailed reporting to the central bank. The directive replaces the March 2015 circular and takes effect on June 15, 2016, aiming to stabilize the banking system and support tourism-driven economic recovery amid low hotel occupancy and sluggish growth.
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