Regulatory Alerts2020-03-20
CUA Requirement No. 1/2020: Classification of Loans and Other Assets
The Registrar of Credit Unions at the Central Bank of Belize issued CUA Requirement No. 1/2020 to prescribe the methodology for evaluating and classifying loans and other assets held by credit unions. This regulation mandates specific criteria for categorizing assets as Doubtful or Loss based on arrears duration and borrower financial weakness, while introducing temporary classification exceptions for agriculture and pandemic-impacted sectors. Credit unions are required to conduct quarterly classification reviews and report classified and restructured facilities to the Registrar on prescribed schedules.
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