Regulatory Alerts2020-04-06 | ASFI/CC-2785/2020Added · Updated
ASFI Circular Letter DNP CC-2785 2020 of April 6, 2020
Financial Intermediation Entities (EIFs) are instructed to automatically defer credit amortization installments for borrowers with active loans maturing between March 1 and May 31, 2020. Deferred amounts accrue only previously agreed interest without compounding or penalties, and must be repaid within six months after the deferral period or added to future installments. The directive also mandates specific accounting treatments for deferred loans, applies to credit card payments and financial leasing, and revokes three previous circulars from March 2020.
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