Local regulators ask banks to temporarily relax rules on bad loan recognition amid epidemic

 

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Local banking regulators in several regions have asked lenders to relax standards for recognising hard-hit companies’ non-performing loans (NPLs) to help companies amid the coronavirus outbreak.

The local branch of the China Banking and Insurance Regulatory Commission (CBIRC) in Shanghai has announced 18 measures to support companies hit by the coronavirus outbreak. Banks are no longer required to identify loans overdue for more than 90 days and 60 days as NPLs to help companies whose revenue sources are temporarily cut off by the epidemic, said the regulator.

Banks are also told to work . . .

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