Regulatory Alerts2012-05-10
Added · Updated
Dealing with retail and institutional loans in the post-revolution period
The Central Bank of Egypt mandates a three-month deferral of payments for regular retail loan customers for arrears from January to March 2011, prohibiting late fees and preventing these facilities from being classified as irregular. For institutional loans, banks must implement organized mechanisms to contain crisis impacts, including immediate reviews of existing credit facilities and collateral, stress testing across activity sectors, and specific six-month payment deferrals for the tourism sector from January to June 2011 without late fees or irregular classification. Banks are required to submit summaries of their credit risk analysis and stress test results to the supervision and oversight sector.
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