Regulatory Alerts2007-09-05 | CD-SIBOIF-498-2-SEP5-2007Added · Updated
Norm on Provision for Housing Loans for Amounts Equal to or Less Than the National Currency Equivalent of Twenty Thousand United States Dollars
This regulation establishes a zero percent provision requirement for housing loans with amounts equal to or less than the national currency equivalent of US$20,000 that are classified in category A. It applies to banks, financial societies, and branches of foreign banks and financial societies supervised by the Superintendence of Banks and Other Financial Institutions. Loans in other classification categories must be provisioned according to existing asset evaluation and classification regulations. The norm becomes effective upon notification.
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