Decision on the amendments to the Decision on temporary measures for the mitigation of negative effects of COVID-19 epidemic on the financial system was adopted at today’s session of the CB Council, which was chaired by governor Radoje Žugić. The decision implements the fifth set of measures targeting the recovery of the consequences of the pandemic.
Adoption of the new enactment will create conditions for simplifying financial situation for specific groups of the population, particularly those that will be affected by the pandemic – physical persons that will remain without jobs or whose wage will be reduced.
“The first measure refers to the introduction of the mandatory six-month moratorium for physical persons – users of loans whose employment relationship terminated on 31 March this year due to the pandemic and who had no delay in the repayment of loans longer than 90 days and the loan was not classified as assets of poor quality on that day. Moratorium also refers to the users of loans with micro-financial institutions and leasing companies”, CB said.
The second measure implies that banks are obliged to approve restructuring of loans to physical persons – users of loans who had their wages reduced by at least 10% due to the pandemic.
For persons whose salary amounted to €550 or more before the reduction, restructuring is allowed if that person had less than €220 available after the reduction.
“This category will have the deadline for the repayment of loans extended in such a way that the amount of the unburdened part of the salary is not less than €220.00. For those whose salary was under €550 before the reduction, deadline for the repayment of loan will be extended, so that the amount of the unburdened part of the salary is not less than the amount of the unburdened amount of the salary that user of the loan had before its reduction”, CB explains.
“The third measure of the adopted decision allows banks to include 20% of demand deposits while calculating due liabilities. This way banks will be enabled to manage their funds more efficiently”, representatives of the CB said.
