Regulatory Alerts2020-09-01 | ASFI/CC-4737/2020Added · Updated
ASFI Circular Letter DNP CC-4737 2020 of September 1, 2020
Financial Intermediation Entities and Financial Leasing Companies must automatically defer credit installment payments for principal, interest, and other charges for September through December 2020. Borrowers may continue payments voluntarily, and deferred amounts can be regularized without interest rate increases or default penalties, with compound interest prohibited. Repayment schedules resume from January 1, 2021, based on original plans, and entities are authorized for 24 months to refinance or reschedule obligations based on future cash flow capacity.
Topics
Share