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CBC calls on Αsset Management Companies to promote loan repayment suspensions
CNA - CYPRUS/Nicosia 07/04/2020 14:09


The Central Bank of Cyprus called on Credit Acquiring Companies (CACs) to promote moratorium on loan repayments, as part of the measures to alleviate the adverse impact of the coronavirus pandemic.
 
In a circular published today signed by the CBC Deputy Director of Supervision, the CBC notified CACs of the decree issued by the Ministry of Finance providing for a nine-month loan repayment suspension for borrowers with no arrears exceeding 30 days in end-February 2020.
 
The CBC, the circular noted, expects from CACs to contribute to the effort to enable the recovery of viable and cooperative borrowers in a smooth economic activity the soonest possible.

(CNA)

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