SBS Provides Temporary Measures for Debtors Affected by the El Niño Phenomenon, What Did It Decide?
5 Articles
5 Articles
Increases investor tension with climate phenomenon, while credit operations reflect more RJs and default
SBS and the Government list relief to debtors affected by El Niño, who will be eligible?Under circumstances that may temporarily affect the ability to pay of companies and natural persons with good credit behavior, the Superintendency of Banking, Insurance and AFP (SBS) reports that companies in the financial system are entitled to certain shares, what is it?Financial institutions can modify the original terms of contracts, adapting them to the …
The Superintendency of Banking, Insurance and AFP (SBS) established facilities for financial institutions to temporarily modify the credit conditions of individuals and companies that face difficulties in paying their debts due to exceptional circumstances, such as those that could be generated by the impact of the El Niño phenomenon.Through a multiple trade reviewed by RPP, the SBS specified that banks and other financial system companies can a…
Given exceptional and temporary circumstances that may temporarily affect the ability to pay of companies and natural persons with good credit behaviour, the Superintendency of Banking, Insurance and AFP (SBS) reported that the companies of the financial system are empowered to modify the original terms of the contracts, adapting them to the new expected income flows of the debtor.
The measure allows banks, financiers and banks to temporarily modify the schedules of customers affected by events associated with the EFF, provided that they meet certain requirements. Changes will not be considered refinancing or will imply an automatic deterioration of their credit rating.
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