Regulatory Alerts2021-03-05
IBA Circular No. 1 of 2020 - Classification of Loans and Other Assets for Banks
The Central Bank of Belize issued IBA Circular No. 1 of 2020 to prescribe the methodology for evaluating and classifying loans and other assets held by licensees under the International Banking Act. The regulation defines non-performing assets based on delinquency periods and financial weaknesses, mandating specific classifications of Substandard, Doubtful, or Loss, while granting extended grace periods for agriculture, marine, and tourism sectors. Licensees are required to conduct quarterly classification reviews and report all classified facilities to the Central Bank using specified return forms.
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