Regulatory Alerts2020-03-24 | 29630Added · Updated
Regulatory Treatment of Payment Deferrals or Skipped Payments Due to COVID-19 Measures
The Central Bank of Trinidad & Tobago relaxes regulatory treatment for performing loans and loans past due up to 89 days as of March 1, 2020, allowing payment deferrals or rate reductions without reporting them as restructuring or past due for an initial three-month period starting March 31, 2020. Financial institutions must exclude these facilities from 'Restructuring or Rescheduled' and 'Past Due' categories in CB20 reports, while maintaining provisioning in line with IFRS 9 and providing accurate disclosures to borrowers without associated fees. The Central Bank will introduce a Special Report under section 75(1) of the Financial Institutions Act, 2008, for licensees to report these specific exposures.
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