Regulatory Alerts2020-12-07 | ASFI/CC-8200/2020Added · Updated
ASFI Circular Letter DNP CC-8200 2020 of December 7, 2020
Financial Intermediation Entities (EIFs) are mandated to automatically defer credit amortization installments for borrowers with active loans as of February 29, 2020, covering the period from March to December 2020. Deferred installments must not incur additional interest or penalties, and EIFs are prohibited from forcing early repayment or charging extra fees for the deferral. After the deferral period, EIFs must collect the deferred amounts following the original payment schedule and offer refinancing or restructuring options for borrowers with deteriorated payment capacity, while ensuring that the deferral does not negatively affect the borrowers' risk classification.
More like this from ASFI
We email you every new ASFI publication the day it's published.