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CM-1.8.16

Conventional bank licensee must clearly articulate and document policies in respect of the counting of days past due, in particular in respect of the re-ageing of the facilities and the granting of extensions, deferrals, renewals and rewrites to existing accounts. At a minimum, the re-ageing policy must include:

(a) Approval authorities and reporting requirements;
(b) Minimum age of a facility before it is eligible for re-ageing;
(c) Delinquency levels of facilities that are eligible for re-ageing;
(d) Maximum number of re-ageing allowed per facility; and
(e) A reassessment of the borrower’s capacity to repay.
Added: June 2022