Revised Timeline for Submission of Special Report on Treatment of Deferrals or Skipped Payments

CENTRAL BANK OF TRINIDAD AND TOBAGO
Eric Williams Plaza, Independence Square, Port-of-Spain, Trinidad, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 621-CBTT (2288), 235-CBTT (2288); Fax: 612-6396 E-Mail Address: info@central-bank.org.tt Website: www.central-bank.org.tt

May 5, 2020
CIRCULAR LETTER TO:
ALL FINANCIAL INSTITUTIONS LICENSED UNDER
THE FINANCIAL INSTITUTIONS ACT, 2008 REF: CB-OIFI-965/2020 REVISED TIMELINE FOR SUBMISSION OF SPECIAL REPORT ON TREATMENT OF PAYMENT DEFERRALS OR “SKIPPED PAYMENTS” The Central Bank of Trinidad and Tobago (“Central Bank”) refers to its Circular Letter (CB-OIFI-921/2020) dated April 27, 2020 wherein a Special Report (DPC-19) was issued to institutions to collect data on credit facilities of individuals and businesses granted deferrals, rate reductions, and waivers of penalty charges and late payment fees. Institutions were required to commence reporting monthly on data as at March 31, 2020, with a submission due date of May 14, 2020 in accordance with Circular Letter CB-IOFI-747/2020 dated March 26, 2020. The Bank acknowledges that due to the reduced "in office" workforce presence, that licensees and financial holding companies may experience difficulty with the timely submission of the DPC-19 report for the quarter ended March 31, 2020. Accordingly, the Central Bank advises that institutions will be allowed to submit the DPC-19 reports for the periods ended March 31 and April 30 by June 15, 2020. The DPC-19 report for May 2020 and monthly reporting thereafter will be due in accordance with Circular Letter CB-IOFI￾747/2020 dated March 26, 2020. In the interim, the Central Bank requests financial institutions to submit the following high-level aggregate information as per the table below on deferred payments for the months of March and April 2020 by May 31, 2020 in the following categories (Government; Corporate/Commercial; Retail/Consumer) to the Inspector of Financial Institutions at the following email address – psolomon@central-bank.org.tt:
 Total Number of Deferred Payments processed; and  Total Value of Deferred Payments. We look forward to your submissions. Please be guided accordingly. Yours sincerely Patrick Solomon INSPECTOR OF FINANCIAL INSTITUTIONS

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March 31, 2020 ($’000) Government Corporate/Commercial Retail/Consumer Number of Deferred Payments Processed Value of Deferred Payments April 30, 2020 ($’000) Government Corporate/Commercial Retail/Consumer Number of Deferred Payments Processed Value of Deferred Payments