Regulatory Alerts2021-01-06
Added · Updated
Circular Letter No. CC/2021/00000001: Guidelines Amending Legislative and Non-Legislative Moratoria on Loan Repayments
This circular updates the deadline for the application of general payment moratoria to March 31, 2021, and implements restrictions introduced by the EBA's reactivated guidelines. It imposes a maximum nine-month limit on payment suspensions for moratoria granted after September 30, 2020, and mandates that credit institutions submit plans detailing their assessment processes for 'unlikeliness to pay' to relevant authorities. The document also defines the distinction between new moratoria and modifications to existing ones, while maintaining the applicability of previous circular provisions.
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