Banks in disaster areas given wider berth on loans

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The story "Banks in disaster areas given wider berth on loans" was covered 16 hours ago by Business Mirror, a news publisher based in Philippines.

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Banks in disaster areas given wider berth on loans - Business Mirror

Quick Summary:

BANKS with presence in areas affected by recent typhoons are being given a wider berth for loans and operations by the Monetary Board.

These loans, however, remain subject to prudential reporting for supervisory purposes that need to be submitted electronically to the BSP and copy furnished the ESG Supervision and Surveillance Group.Cai U.

This grace period will be subject to terms agreed by banks and borrowers concerned.