NBS: A new TWO-MONTH MORATORIUM on loan repayment approved
The National Bank of Serbia has announced that bank clients have been given a new two-month moratorium on repayment of loans, credit products and leasing. Debtors are thus allowed yet another delay in repayment of liabilities towards banks/financial lessors, due in the period from August 1st, 2020 to September 30th, 2020, as well as a delay in repayment of liabilities due in July this year, which debtor did not settle.
Bank’s products to which moratorium applies
The moratorium applies to liabilities based on bank’s loans and credit products (such as overdrafts and credit cards), as well as other bank’s products (such as liabilities based on interest rate hedging instruments related to loans and /or credit products, bank guarantees). The moratorium does not apply to obligations related to payment operations (e.g. transaction commission, account maintenance fee), investment services, broker-dealer operations, safe deposit box services, etc.
Termination of moratorium
Upon termination of moratorium, the bank/financial lessor will distribute the accrued regular interest evenly over the repayment period (without attributing it to the principal of the debt), while the repayment period is being extended for the duration of moratorium. Default interest calculated during the period of moratorium on receivables due before the adoption of moratorium will be evenly distributed over the repayment period (without attributing it to the principal to the debt).
Izvor: BIZLife
Foto: BIZLife
