Regulatory Alerts2021-09-23 | 29696Added · Updated
Central Bank of Trinidad and Tobago Circular on COVID-19 Relief Measures for Loan Restructuring and Mortgage Rates
The Central Bank of Trinidad and Tobago permits licensed financial institutions to restructure performing commercial and mortgage loans without downgrading them to non-performing status for twelve months starting October 1, 2021. Institutions must establish board-approved policies within one month, submit monthly reports on restructured facilities, and conduct a credit portfolio stress test with a 10% non-performing loan threshold by December 31, 2021. Additionally, the regulator suspends the mortgage market reference rate calculation for two years, allowing lenders to adjust mortgage rates more frequently and outside standard anniversary dates. This directive also marks the end of prior payment deferral forbearance measures effective September 30, 2021.