Regulatory Alerts2003-10-11 | 25/7Added · Updated
Approval of the Regulation on Non-accrual of Interest
The Central Bank of Uzbekistan approved the Regulation on Non-accrual of Interest, which establishes the procedure for commercial banks to transfer assets to non-accrual status and reverse that status. Banks must cease recognizing interest income on balance sheet accounts when assets are classified as doubtful or hopeless, impaired under IFRS, or when principal or interest payments are overdue by 60 days (for maturities up to one year) or 90 days (for maturities over one year). The regulation mandates specific accounting treatments for accrued but unpaid interest and prohibits capitalizing overdue interest into the principal debt.
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