Regulatory Alerts2020-03-19 | ASFI/CC-2598/2020Added · Updated
ASFI Circular Letter DNP CC-2598 2020 of March 19, 2020
Financial Intermediation Entities must implement a mechanism to defer credit payments for borrowers whose economic or labor activities are affected by the national health emergency, specifically covering installments due between March 15 and May 15, 2020, for credits active as of February 29, 2020. Deferred amounts incur no additional financial charges, do not negatively affect borrower risk ratings, and must be accounted for in specific sub-accounts without requiring new specific provisions. Entities are authorized to reschedule debts or offer grace periods, with a priority to assist micro, small, and medium borrowers as well as those in the tourism and transport sectors.
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