Regulatory Alerts2023-07-11
Added · Updated
Orderly exit from the Pre-approved Principal Payment Holiday Scheme
The Hong Kong Monetary Authority has decided to commence an orderly exit from the Pre-approved Principal Payment Holiday Scheme upon its expiration at the end of July 2023. Authorized institutions are required to offer enhanced partial principal repayment options and facilitate a transition period through October 2023 to help corporates resume normal repayment. The directive ensures that participating loans are not downgraded or classified as rescheduled provided terms remain commercial, while maintaining separate relief measures for the transport sector until 2025.
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