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Belgrade – In an extraordinary session today, the Executive Board of the NBS adopted the Decision on temporary measures for banks for the purpose of proper credit risk management during the pandemic.
Source: B92
Photo: Darja Balsic
The Decision on temporary measures for financial leasing providers was also adopted for the purpose of adequate credit risk management in the conditions of the kovida 19 pandemic, announced the NBS Governor’s Office.
Given the complexity of the impact of the circumstances caused by the Kovid 19 pandemic on citizens and the economy, the National Bank of Serbia determined that there is room for additional measures aimed at facilitating the liquidation of debtors facing difficulties due to the pandemic of Kovid 19 and responsible management of the credit risk of banks and leasing provider in the current circumstances, is stated in the announcement.
With these decisions, the SbN prescribes the measures and activities that banks and financial leasing providers are obliged to apply to adequately manage credit risk, which means identifying possible difficulties with debtors in a timely manner and taking appropriate measures.
Precisely for this reason, the NBS prescribes them obligation to the debtor (natural person, farmer, entrepreneur and company), who, due to the circumstances caused by the kovida 19 pandemic, cannot settle their obligations with the bank or financial leasing provider, or who may have difficulties in settling these obligations, at their request, grants relief in the payment of obligations.
The NBS estimated that the need for benefits is especially for unemployed people, debtors whose average net monthly income in the last three months is below the average salary in the Republic of Serbia, as well as debtors with average net monthly income in the last three months up to 120,000 dinars, and whose net monthly income the income is less than 10% or more in relation to the income before March 15, 2020 and whose degree of credit indebtedness, that is, the load of monthly income with credit and other obligations is greater than 40% of that income.
For farmers, entrepreneurs and companies, it is estimated that relief in the repayment of liabilities should be offered especially to debtors who in 2020 had a decrease in operating income, that is, a turnover of at least 15% compared to 2019 or there was an interruption of the debtor’s business in continuous duration of at least 30 days due to the kovid 19 pandemic.
Debtors who are in arrears for more than 30 days in a materially significant amount on the basis of any obligation to which the decision applies will also be entitled to the established relief. In addition to the above, banks and financial leasing lessors have the opportunity to grant relief to the debtor at the reasoned request of the debtor, if due to other facts and circumstances they consider that the financial situation has deteriorated and it is impossible to settle the debtor’s obligations.
The exemptions provided by the decisions refer to the rescheduling and refinancing of loans and financial lease liabilities, with the approval of a 6-month grace period and the appropriate extension of the repayment period so that the debtor’s monthly obligations do not exceed the of the amortization plan. During the grace period, the bank calculates the interest, so the debtor, in the application, decides whether to pay interest during the grace period or after its maturity.
Other credit products – credit card and allowed overdrafts, can be covered by exemptions according to this decision, granting a loan to refinance obligations based on these products with a grace period of six months and a monthly payment agreed with a period of Repayment is extended in such a way that the monthly obligations do not exceed the monthly obligations that the debtor would otherwise pay for that product.
We especially emphasize that banks, that is, financial leasing providers, cannot charge a fee for the measures and activities taken in accordance with the decisions, as well as the costs that they may have in relation to these measures and activities, including costs processing of customer requests, except necessary costs. for the approval of accounts receivable, which are not determined by the bank or financial leasing providers (for example, credit bureau or real estate cadastre) ”, it is indicated.
In accordance with the decisions, banks and financial leasing providers will do so no later than December 22, 2020. On their website and in their branches, publish a notice informing debtors about the possibilities of submitting a request for benefits, as well as the conditions that the debtor must meet in this regard.
All debtors who comply with the prescribed conditions can submit to the bank / financial lessor an application for benefits electronically or by post, as well as in commercial premises until April 30, 2021, with the debtors being advised to give preference to the media electronic due to the current epidemiological situation.
The bank, that is, the lessor of the finance lease, is obliged to decide on the debtor’s request and inform the debtor of that decision within 30 days of receiving the request.
The decisions taken will take effect tomorrow, December 15, 2020. From the next day, debtors can submit a request to obtain the declared exemptions, regardless of the notification of the banks / financial leasing providers.
The National Bank of Serbia, as before, will carefully monitor the impact of changing circumstances on all relevant market participants and take responsible measures within its competence aimed at preserving the stability of the financial system, which is a prerequisite for preserving and improving. economic growth as a whole. .
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