Moratorium on loans in the Federation of Bosnia and Herzegovina extended

(Patria) - The Management Board of the Banking Agency of FBiH adopted a decision on temporary measures that banks are implementing to recover from the negative economic consequences caused by the COVID-19 virus. The same decision was made for microcredit organizations and leasing companies operating under the supervision of the Banking Agency of FBiH (FBA).

These decisions ensure the stability and continuity of the banking system entities' operations in order to mitigate the economic consequences caused by the COVID-19 viral disease, as well as operations aimed at the expected economic recovery.

Special measures from the decisions support the possibility of a moratorium on the repayment of credit obligations, modalities for adjusting the manner and dynamics of repayment of credit obligations, and other forms of support for clients of banking system entities who are directly or indirectly affected by negative economic effects.

Requests for the application of measures from these decisions can be submitted to banks, microcredit organizations, and leasing companies until December 31, 2020.

The Banking Agency of FBiH emphasizes that even in these extraordinary circumstances, and within its competences, it will do everything possible to protect citizens, the economy, and the stability of the financial system.