Regulatory Alerts2021-03-04
Added · Updated
Further extension of the Pre-approved Principal Payment Holiday Scheme
The Hong Kong Monetary Authority extends the Pre-approved Principal Payment Holiday Scheme by six months to support SMEs facing ongoing challenges from the COVID-19 pandemic. Eligible corporate borrowers with annual turnover under HK$800 million must defer principal payments for loans falling due between 1 May and 31 October 2021, with a 90-day deferment applying to trade loans. Authorized institutions may apply flexible risk management approaches for heavily extended loans and are not required to issue individual notifications to customers regarding this extension.
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