Regulatory Alerts2023-08-20
Added
DFIM Circular No. 10: Regarding Loan Rescheduling of Shipbuilding Industry
This circular authorizes financial institutions to reschedule loans, leases, and investments for distressed export-oriented and local shipbuilding industries to reduce non-performing loans. Eligible facilities must be rescheduled over a total of 10 years, including a 2-year grace period, with a mandatory minimum 2.50% down payment. Financial institutions must process applications within 60 days of receipt, and borrowers must submit applications with the down payment within 90 days of the circular's issuance.
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