BDDK Extended Bank Support Periods

BDDK Extended Bank Support Periods BDDK extended the periods of bank support. The institution decided to extend the pandemic support for banks. The Banking Regulation and Supervision Board decided to continue the measures implemented to facilitate coronavirus financing conditions. Applications with an expiry date of 31 December 2020 have been extended until 30 June 2021. Accordingly, flexibility will be allowed for delays in loan payments until 30 June 2021; The delayed loans will continue to be waited for 180 days instead of 90 days before being transferred to follow-up accounts. The practice of defining a grace period by not demanding the receivables of banks, including the minimum amount, during the period during which they postpone their card debts, will continue until 30 June 2021. The conditions of repayment of restructured loans will also continue to be easier. Similar to the 90-day delay period to 180 days, the requirement to classify into the Third Group of loans whose principal and / or interest payments are delayed more than thirty days within a one-year monitoring period or are subject to restructuring once again within this period will not apply until 30 June 2021. In addition to these, the regulations include vehicle, housing and consumer loans and all types of commercial loans in addition to consumer loans. On the other hand, certain regulations will be ended as of December 31, 2020 in order to analyze the picture regarding the financial structure of the banking sector more transparently and to manage possible risks more effectively.