Regulatory Alerts2020-08-03
PA Communication 4 of 2020: Guidance on the Duration of Banks Act Directive 3 of 2020
The Prudential Authority has indefinitely extended the temporary capital relief measures for banks and foreign branches under Banks Act Directive 3 of 2020 due to persistent COVID-19 economic strain. Originally implemented in April 2020 to ease minimum capital requirements on restructured credit exposures, the directive was initially mandated for a six-month regulatory reassessment. The Authority will formally announce the reinstatement of standard capital rules and any transitional arrangements once local economic conditions normalize.
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