Regulatory Alerts2024-02-08
Amendment to Proper Conduct of Banking Business Directive no. 313 Regarding Borrower Indebtedness Limitations
The Supervisor of Banks has amended Proper Conduct of Banking Business Directive no. 313 to extend an exemption from borrower indebtedness limitations until December 31, 2024. This extension applies to the indebtedness of a banking group of borrowers to a credit card company, ensuring it remains excluded from the aggregate limitation of large borrowers. The amendment was approved by the Governor following consultation with the Advisory Committee on Banking Business Affairs.
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