Bulgarian c-bank not to extend loan repayment moratorium further

Bulgarian c-bank not to extend loan repayment moratorium further

The Bulgarian National Bank (BNB) said that it is not planning to extend further the loan repayment moratorium introduced earlier this year to mitigate the impact of the coronavirus crisis on borrowers.

However, the central bank is ready to implement additional measures, if necessary, most of them related to capital requirements, BNB governor Dimitar Radev was quoted as saying in a press release published on the central bank's website on Friday.

In July, the central bank said that it extended the application deadline for the current loan moratorium to September 30, while the moratorium itself will remain in force until the end of March 2021 - three more months than initially planned.

Only borrowers who are no more than 90 days past due by March 1 can benefit from the mechanisms, which include a six-month postponement of loan principal and interest payments, a six-month postponement of principal payments only, and a mechanism for revolving loan facilities.

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