~Generic moratoriums no longer desirable in the interest of financial stability~
Willemstad/Philipsburg:— With the aim of mitigating the direct financial impact of the COVID-19 crisis on businesses and individuals, in March of this year, the Centrale Bank van Curaçao en Sint Maarten (CBCS) gave its approval for commercial banks to offer 3 to 6-month moratoriums to their customers. Banks were thus allowed to exempt their customers from making both principal and interest payments on their loans for a specific period, without this affecting the banks’ financial position. Additionally, banks were allowed to temporarily increase the maximum amount of credit to ...
To read more: https://www.smn-news.com/st-maarten-st-martin-news/36181-tailored-payment-conditions-loans-allowed.html
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