Regulatory Alerts2020-03-20
DBFIA Practice Direction No. 2 Amendment (20 Mar 2020)
The Central Bank of Belize issued this amendment to prescribe the methodology for evaluating and classifying loans and other assets held by licensees. It establishes specific criteria for categorizing assets as Substandard, Doubtful, or Loss based on arrears duration and borrower financial weakness, while introducing temporary classification exceptions for sectors impacted by drought and the COVID-19 pandemic. Licensees are required to conduct quarterly classification reviews and report classified facilities to the Central Bank using Bank Returns BR8 and BR8a.
Share