Regulatory Alerts2021-07-12
Added
SMESPD Circular Letter No. 08: Regarding Accomplishment of Participation Agreement with Banks and Financial Institutions for Credit Guarantee Scheme under Cottage, Micro and Small Enterprises (CMSE) Sector
The SME & Special Programs Department amends previous circulars to allow banks and financial institutions to declare their unsecured CMSE loan portfolios based on the previous year's December 31 figures and sign initial five-year participation agreements. It mandates that the Participation Agreement specify only the Current Year Exposure (CYE) for the year of signing, and updates the Application Form to require disclosure of the applicant's total unsecured CMSE exposure and the five-year average CYE. These changes aim to simplify the Credit Guarantee Scheme program for the CMSE sector.
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