Regulatory Alerts2020-04-17
Added · Updated
Pre-approved Principal Payment Holiday Scheme for Corporate Customers
The Hong Kong Monetary Authority mandates all authorized institutions to offer a pre-approved six-month principal payment holiday to eligible corporate borrowers affected by COVID-19. Eligible borrowers are defined as entities with annual sales of HK$800 million or less that are not in bankruptcy and have no payments overdue for more than 30 days. The scheme ensures deferred payments do not trigger loan downgrades and allows institutions to bypass prior consent requirements for loans under specific SME guarantee schemes.
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