Regulatory Alerts2020-03-25 | 29654Added · Updated
Regulatory Treatment of Payment Deferrals or Skipped Payments Due to COVID-19 Measures
The Central Bank of Trinidad & Tobago relaxes regulatory treatment for restricted loans due to payment deferrals or rate reductions for a three-month period starting March 31, 2020. This relief applies only to performing loans and those past due up to 89 days as of March 1, 2020, excluding non-performing loans classified as sub-standard, doubtful, or loss. Financial institutions are prohibited from reporting these facilities as 'Restructuring or Rescheduled' or 'Past Due' on CB20 reports, though they must continue provisioning in line with IFRS 9 and introduce a Special Report for such exposures.