The Executive Board of the National Bank of Moldova (NBM) approved a decision that allows licensed banks to postpone or change the payment deadlines and/or the amounts of due payments on loans granted to economic agents until June 30, 2020, IPM reports, quoting a press release of the Bank.
The change in the aforementioned deadlines will not have the effect of automatic classification of these loans into a tougher category than the existing one, as of the date of adoption of this decision.
The decision refers to the legal entities whose financial situation is temporarily affected due to the state of emergency and the economic consequences generated by COVID-19.
The measures may be applied individually by each bank, according to their internal regulations and contractual provisions with debtors, including their payment ability. Thus, the economic agents will have to reasonably notify the bank about their temporary difficulty of payment in relation to the situation.
In this connection, the banks will be further obliged to prudently assess the quality of loans and to identify any situation concerning the payment improbability of the debtors. Also, the banks will continue to ensure the efficient and prudent management of all risks in order to maintain the stability of their financial situation.
