Regulatory Alerts2020-09-28
Added · Updated
BRPD Circular No. 17: Loan Classification
This circular extends the moratorium on loan classification deterioration for loans classified as of January 1, 2020, until December 31, 2020, and mandates that installment payments due between January 1 and December 31, 2020, be treated as future installments with the schedule adjusted accordingly. It extends the maturity or restructuring date for current, demand, and newly arisen demand loans by up to 12 months or until December 31, 2020, whichever is earlier. The directive prohibits the transfer of interest/profit to income accounts, the imposition of penalty interest, or additional fees for loans benefiting from these measures, while repealing previous circulars BRPD No. 04/2020 and 13/2020.
More like this from BB
BB published 33 documents in the last 30 days. We email you each new one the day it's published.