CM-8.4.5

Past version: Effective from 01 Jul 2011 to 30 Sep 2016
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When factoring in credit cards into the repayment limit in Paragraph CM-8.4.1 above, licensees must 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 must be included in full in the repayments ratio calculation. Charge cards are not included under this definition.

Amended: July 2011
October 2007