CM-8.4.5

When factoring in credit cards into the repayment limit in Paragraph CM-8.4.1 above, licensees must include 5% of the credit limits available on these facilities. If the amounts outstanding (including profit) under such facilities exceed their limit, then the full amount outstanding must be included in the repayments ratio calculation. Charge cards are not included under this definition.

Amended: October 2016
Amended: July 2011
October 2007