Regulatory Alerts2022-02-23
Added · Updated
Further extension of the Pre-approved Principal Payment Holiday Scheme
The Hong Kong Monetary Authority has extended the Pre-approved Principal Payment Holiday Scheme by six months to support corporate customers affected by the resurgence of Covid-19. Authorized institutions must defer principal payments for eligible loans falling due between 1 May and 31 October 2022, while also offering a voluntary one-year partial principal repayment option for customers seeking to resume gradual repayments. This extension applies on a pre-approved basis without individual notifications, ensuring that participating loans are not downgraded or classified as rescheduled provided the terms remain commercial.
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