Regulatory Alerts2020-02-06
Added · Updated
Measures to relieve impact of the novel coronavirus
The Hong Kong Monetary Authority issued this letter to encourage authorized institutions to implement temporary relief measures for customers adversely affected by the novel coronavirus outbreak. Authorized institutions are required to adopt a sympathetic stance and favorably consider requests for principal moratoriums, fee reductions, and repayment schedule restructuring where prudent risk management permits. The regulator also mandates clear internal communication of these policies to ensure consistent customer treatment and highlighted ongoing coordination efforts to support small and medium-sized enterprises.
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