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.
La Paz, September 1, 2020 CIRCULAR LETTER/ASFI/DNP/CC-4737/2020
To Whom It May Concern
Present
REF: PROCEDURE NO. T-2107824768 EXTENSION OF THE DEFERRAL PERIOD
Gentlemen:
Within the framework of what is established in Law No. 1294 Exceptional Law on the Deferral of Credit Payments and Temporary Reduction of Basic Service Payments of April 1, 2020, modified in its Paragraph I of Article 1 by Law No. 1319 of August 25, 2020, and subject to what is stipulated in Supreme Decree No. 4318 of August 31, 2020, Financial Intermediation Entities (FIEs) and Financial Leasing Companies (FLCs) are instructed to carry out the automatic deferral of installments corresponding to the payment of credit amortizations to principal and interest and other charges, for the months of September, October, November, and December 2020. Borrowers may continue with the payment of their credits at their own request, through the mechanisms enabled by the aforementioned entities.
FIEs and FLCs may agree with borrowers on one of the options indicated in the aforementioned Supreme Decree, for the regularization of principal and interest installments that were deferred, without their application implying an increase in the interest rate or the execution of sanctions and penalties for default, with compound interest being prohibited.
As determined in Supreme Decree No. 4318 of August 31, 2020, the deferral of credits must be applied to the portfolio existing prior to the promulgation of Law No. 1294 Exceptional Law on the Deferral of Credit Payments and Temporary Reduction of Basic Service Payments. It corresponds to FIEs and FLCs to inform borrowers that the payments of credit amortizations will follow the chronology of the original payment plans, starting from January 1, 2021.
NVD/CC/AGL/VRC/MMV/Cesar Daza C. Page 1 of 2
La Paz: Central Office, Plaza Isabel La Católica No. 2507 · Tel: (591-2) 2174444 - 2431919 · Fax: (591-2) 2430028 · P.O. Box No. 447 · Condominio Torres Del Poeta, Tower "A", floors 4, 5, 6 · Calle Reyes Ortiz at Federico Zuazo, Gundlach Building, East Tower, Floor 3 · Tel: (591-2) 2311818 · P.O. Box No. 6118 · El Alto: Consultation Center, Villa Bolívar Municipal Urbanization, Block "O" Av. Ladislao Cabrera No. 16 (Villa Adela Crossing) · Tel: (591-2) 2834449 · Potosí: Consultation Center, Plaza Alonso de Ibáñez No. 20, Galería El Siglo, Floor 1, Central Zone · Tel: (591-2) 6230858 · Oruro: Consultation Center, Guachalla Passage, Commercial Chamber Building, Floor 3, Office 307 · Tel: (591-2) 5117706 - 5112468 · Santa Cruz: Departmental Office, Av. Irala No. 585 at Av. Ejército Nacional, ground floor Office No. 2 and Floor 2 Office No. 201, First Ring, P.O. Box No. 1359 · Tel: (591-3) 3336288 - 3336287 - 3336286 - 3336285 · Fax: (591-3) 3336288 · Cobija: Consultation Center, Av. Teniente Coronel Emilio Fernández Molina No. 049, between Beni and Sucre Streets · Tel: (591-3) 8424841 · Trinidad: Consultation Center, Calle Antonio Vaca Díez No. 26 between Nicolás Suárez and Av. 18 de Noviembre, Central Zone · Tel (591-3) 4629659 · Cochabamba: Departmental Office, Calle Colombia No. 364 near Calle 25 de Mayo · Tel: (591-4) 4584505 - (591-4) 4584506 · Sucre: Consultation Center, Ayacucho Street between Loa and Junín, ground floor (ex) ECOBOL Building · Tel: (591-4) 6439777 - 6439775 - 6439774 · Fax: (591-4) 6439776 · Tarija: Consultation Center, Junín Street between April 15 and Virgilio Lema No. 451 · Tel: (591-4) 6113709
Toll-free line: 800 103 103 · Website: www.asfi.gob.bo · Email: asfi@asfi.gob.bo
FIEs are authorized, from the effective date of the aforementioned Supreme Decree, for a period of twenty-four (24) months, to carry out the refinancing and rescheduling of their borrowers' obligations, provided they have the capacity to generate future cash flows to meet their credit obligations. These entities may adjust their credit policies and technologies for the segments to which their products are oriented, including in them the evaluation of their borrowers' payment capacity through cash flow projections.
Sincerely.
[Signature] Lic. Gonzalo Guillermo Romano Rivero EXECUTIVE GENERAL DIRECTOR a.i. Supervisory Authority of the Financial System
[Seal: PLURINATIONAL STATE OF BOLIVIA - Supervisory Authority of the Financial System]
[Seal: Vo.Bo. Wilson Dichi Carvalho DGT]
NVD/CC/AGL/VRC/MMV/Cesar Daza C. Page 2 of 2
La Paz: Central Office, Plaza Isabel La Católica No. 2507 · Tel: (591-2) 2174444 - 2431919 · Fax: (591-2) 2430028 · P.O. Box No. 447 · Condominio Torres Del Poeta, Tower "A", floors 4, 5, 6 · Calle Reyes Ortiz at Federico Zuazo, Gundlach Building, East Tower, Floor 3 · Tel: (591-2) 2311818 · P.O. Box No. 6118 · El Alto: Consultation Center, Villa Bolívar Municipal Urbanization, Block "O" Av. Ladislao Cabrera No. 16 (Villa Adela Crossing) · Tel: (591-2) 2834449 · Potosí: Consultation Center, Plaza Alonso de Ibáñez No. 20, Galería El Siglo, Floor 1, Central Zone · Tel: (591-2) 6230858 · Oruro: Consultation Center, Guachalla Passage, Commercial Chamber Building, Floor 3, Office 307 · Tel: (591-2) 5117706 - 5112468 · Santa Cruz: Departmental Office, Av. Irala No. 585 at Av. Ejército Nacional, ground floor Office No. 2 and Floor 2 Office No. 201, First Ring, P.O. Box No. 1359 · Tel: (591-3) 3336288 - 3336287 - 3336286 - 3336285 · Fax: (591-3) 3336288 · Cobija: Consultation Center, Av. Teniente Coronel Emilio Fernández Molina No. 049, between Beni and Sucre Streets · Tel: (591-3) 8424841 · Trinidad: Consultation Center, Calle Antonio Vaca Díez No. 26 between Nicolás Suárez and Av. 18 de Noviembre, Central Zone · Tel (591-3) 4629659 · Cochabamba: Departmental Office, Calle Colombia No. 364 near Calle 25 de Mayo · Tel: (591-4) 4584505 - (591-4) 4584506 · Sucre: Consultation Center, Ayacucho Street between Loa and Junín, ground floor (ex) ECOBOL Building · Tel: (591-4) 6439777 - 6439775 - 6439774 · Fax: (591-4) 6439776 · Tarija: Consultation Center, Junín Street between April 15 and Virgilio Lema No. 451 · Tel: (591-4) 6113709