BSP sees 'no further extension' of 60-day loan reprieve under Bayanihan 2

ABS-CBN News

<figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/iq6ak3lPRpg?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><p>MANILA - Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said Monday it is unlikely for banks to extend another loan reprieve following the mandatory one-time 60-day grace period under the Bayanihan 2 law.</p><p>The loan moratorium, which takes effect immediately and was extended to individuals and entities under the Bayanihan to Recover as One is likely the last, Diokno told ANC.</p><p>Diokno said the moratorium should apply to salary loans, housing loans and car loans, among others, which are payable today until the end of the year. </p><p>&quot;It’s one-time, mandatory and non-extendable. We are expecting that there would be no further extension as far as the 60-day grace period is concerned,&quot; Diokno said.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/18/20/bangko-sentral-tells-banks-regulated-firms-comply-with-60-day-grace-period-under-bayanihan-2">BSP tells banks, regulated firms: Comply with 60-day grace period on loans under Bayanihan 2</a></li>	<li><a href="https://news.abs-cbn.com/business/08/20/20/lawmakers-bankers-agree-on-60-day-loan-reprieve-under-bayanihan-2-angara">Lawmakers, bankers agree on 60-day loan reprieve under Bayanihan 2: Angara</a></li></ul><p>Diokno said the BSP proposed a 30-day grace period for loans but bankers and lawmakers agreed on 60-days calling it &quot;manageable.&quot;</p><p>The BSP is also pushing for the passage of the Financial Institutions Strategic Transfer (FIST) bill which aims to help banks offload bad loans. The measure is just &quot;anticipatory.&quot;</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/02/20/bangko-sentral-backs-fist-bill-allowing-banks-to-offload-bad-loans">Bangko Sentral backs FIST bill allowing banks to offload bad loans</a></li>	<li><a href="https://news.abs-cbn.com/business/05/07/20/bsp-says-philippine-banks-can-withstand-increase-in-bad-loans-caused-by-pandemic">BSP says Philippine banks can withstand increase in bad loans caused by pandemic</a></li></ul>

<p>Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said Monday it is unlikely for banks to extend another loan reprieve following the mandatory one-time 60-day grace period under the Bayanihan 2 law.</p>

Bangko Sentral ng Pilipinas Gov. Benjamin Diokno said Monday it is unlikely for banks to extend another loan reprieve following the mandatory one-time 60-day grace period under the Bayanihan 2 law.

BSP sees 'no further extension' of 60-day loan reprieve under Bayanihan 2 | ABS-CBN

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BSP sees 'no further extension' of 60-day loan reprieve under Bayanihan 2

BSP sees 'no further extension' of 60-day loan reprieve under Bayanihan 2

ABS-CBN News

Published Sep 21, 2020 10:54 AM PHT

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Updated Sep 21, 2020 11:15 AM PHT

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Bayanihan 2

loan moratorium

60-day loan grace period

grace period for loans

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Benjamin Diokno

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