Regulatory Alerts2020-09-01
Decision on Temporary Measures for Banks to Mitigate the Consequences of the COVID-19 Pandemic
The Executive Board of the National Bank of Serbia issued this Decision to require banks to offer borrowers a repayment moratorium for obligations due between August 1 and September 30, 2020, to preserve financial system stability. Banks must publish detailed offers, calculate regular interest during the pause without charging default fees, and extend loan repayment periods accordingly while ensuring receivables are not classified as non-performing. The regulation mandates specific reporting to the central bank, prohibits additional costs for borrowers, and requires banks to harmonize internal acts and suspend standing orders within five days of the decision's entry into force.
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