Regulatory Alerts2020-04-17
Added · Updated
Pre-approved Principal Payment Holiday Scheme for Corporate Customers
The Hong Kong Monetary Authority issued this circular on 17 April 2020 to authorize a pre-approved principal payment holiday scheme for corporate customers affected by the Covid-19 pandemic. The document outlines the framework for authorized institutions to grant payment deferrals on corporate credit facilities to alleviate financial pressures during the crisis. This regulatory guidance falls under credit risk management and addresses miscellaneous challenges posed by the pandemic to the banking sector.
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