Circular 115-7 on Temporary Moratorium and Loan Restructuring Measures

Bank of the Republic of Haiti
CIRCULAR No. 115-7

TO FINANCIAL INSTITUTIONS

Considering the persistence of the security crisis and its negative impacts on the economic activity sectors;

Considering the need to take measures to preserve the stability of the financial system;

In accordance with the provisions of Articles 83 and 161 of the Law of May 14, 2012, on banks and other financial institutions, banks, development finance companies, leasing companies, and credit card companies, hereinafter referred to as "credit financial institutions," are required to comply with the following provisions regarding loans granted to their clientele.

1. Support Measures

a. By mutual agreement with an eligible client, credit financial institutions are authorized, during the period from November 3, 2025, to September 30, 2026, to grant credit moratoriums or proceed with loan restructurings for their clientele in accordance with Circular No. 87 on loan classification and the establishment of provisions for doubtful debts. Financial institutions, based on their analysis of the general situation of the eligible client, determine the duration of the moratoriums or the new terms and conditions of the restructured loans.

In the case of restructurings, financial institutions are authorized, during the period from November 3, 2025, to September 30, 2026, to apply a minimum provisioning rate of 10% and have until September 30, 2026, to carry out such restructurings. Furthermore, financial institutions are authorized, starting from November 3, 2025, to apply this provisioning rate to loans that have been restructured in accordance with section 2.i of Circular 115-6. Loans that have undergone restructuring in accordance with section 2.ii of Circular 115-6 will continue to be provisioned at a rate of 5% until December 31, 2025, from which date their provisioning rate will increase to 10%.

b. Eligible clients for the aforementioned measures are those who have demonstrated a good credit reputation prior to the start of the current crisis and who have been effectively impacted by it during the past three fiscal years. Said clients must formalize and justify their request for a moratorium or restructuring with their financial institution.

During the moratorium period, only the payment of interest on debts is due, and the credit classification of beneficiary clients will remain the one recorded at the time the moratorium was granted until its expiration.

The moratorium implies a temporal shift in the client's credit status between October 31, 2025, and September 30, 2026. Upon expiration of said moratorium, the client must resume normal monthly debt service (payment of principal and interest) while enjoying the same credit classification as of the end of September 2026. In other words, the moratorium under this circular automatically results in an extension of the duration of the concerned loan equivalent to the duration of the moratorium.

Loans restructured by credit financial institutions under this circular will be reported to the BRH in accordance with the provisions of Circular 87 - or its amended version, if applicable - with the notation "restructured loan Circ. 115-7" or "restructured loan Circ. 115-6/after moratorium," as applicable.

2. Other Measures

During the moratorium period, beneficiaries are exempt from late fees.

In order to ensure the maintenance of the capital adequacy of financial institutions in this context of socio-economic instability, the financial institutions covered by this circular are required to request a non-objection from the BRH for any project of dividend distribution for the 2025-2026 fiscal year. Notwithstanding the satisfaction by a financial institution of the capital conservation buffer established at the level of Circular 88-1, the BRH may, after analysis of the conjuncture and certain considerations regarding the risk profile of said institution, require a reduction in the proposed dividend distribution amount.

3. Reports

All financial institutions covered by this circular are required to transmit electronically to the BRH, on December 31, 2025, March 31, 2026, June 30, 2026, and September 30, 2026, a report on loans that have benefited from a moratorium or restructuring, no later than 21 days after the end of each of these quarters.

The format of the reports to be transmitted is attached to this circular.

4. Repeal and Entry into Force

This circular replaces Circular 115-6 of October 1, 2024, and enters into force on November 3, 2025.

Port-au-Prince, October 28, 2025.

Ronald Gabriel
Governor

ANNEX
Quarterly Report - Circular 115-7

Name of financial institution____________________ Period from……………to……………

Client Identification (Name of individual or company) that submitted a request	Type of request (M or R)	Request Approved or Rejected (Yes, No)	Date of Approval or Rejection of Request (dd/mm/yyyy)	Loan Balance on the Date of Approval or Non-Approval of Request (in gourdes)	Client Status on the Date of Report: Current (C), To Be Reported (AS) or Non-Performing (Imp)
Client 1
Client 2
………
………

*M= Moratorium; R= Restructuring