China News Service, Hong Kong, March 4th. The Hong Kong Monetary Authority (HKMA) and the "Banking SME Loan Coordination Mechanism" announced on the 4th that the "pre-approved interest and non-repayment" plan will be extended for another 6 months to 2021 In October 2010, to continue to support the financing and operation of enterprises in need.
The "Pre-approved interest and non-repayment" plan took effect in May last year and was extended for 6 months in November of the same year. It will expire at the end of April this year and cover all corporate loans, including property loans, auto loans and trade financing loans. Wait.
A total of about 100 banks participated in the plan, covering more than 120,000 eligible corporate customers.
The Hong Kong Monetary Authority stated that considering that the new crown pneumonia epidemic continues to plague the world and severely hit the global and local economies, some small and medium-sized enterprises are still facing difficulties in capital turnover. The coordination mechanism agrees that qualified corporate customers will receive financial assistance from May to October 2021. The loan principal repayment period can be extended for another 6 months, and the trade finance loan principal repayment period can be extended by 90 days.
The HKMA pointed out that since the plan has been launched for nearly a year, in order to balance the special circumstances of customers and the needs of bank risk management, the coordination mechanism agreed that if the same loan is cumulatively extended for 540 days or more from the original loan date (or the same trade financing The loan has a cumulative renewal period of 270 days or more from the original loan date). The bank can adopt flexible arrangements. Under the principle of prudent risk management, according to the customer's individual circumstances, consider other more suitable arrangements for the loan to help the customer tide over the difficulties.
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