CM-8.4.5

Past version: Effective from 01 Oct 2007 to 30 Jun 2011
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When factoring in credit cards into the repayment limit in Paragraph CM-8.4.1 above, licensees should include 5% of the total of credit limits available on these facilities. If the amounts outstanding (including profit) under such facilities exceed their limit, then this higher amount should be included in full in the repayments ratio calculation. Charge cards are not included under this definition.

October 07