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MAS in talks with banks to extend debt moratorium programme

Bloomberg
Bloomberg9/28/2020 06:19 PM GMT+08  • 3 min read
MAS in talks with banks to extend debt moratorium programme
Under MAS’s current measures, SMEs can opt to postpone principal payments on their secured term loans until end of this year.
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Singapore’s central bank is in talks with lenders about extending the nation’s debt moratorium program beyond Dec. 31 to provide extra relief for borrowers hit by the fallout from the coronavirus pandemic, according to people with knowledge of the matter.

One of the key measures being discussed by the Monetary Authority of Singapore and local banks is the possibility of lengthening the debt relief program, with industries that have been impacted most by the crisis potentially having aid extended by as many as six months, the people said, asking not to be identified because the talks are confidential.

A tiered approach is being considered, so relief is targeted to those needing the most help, one of the people said. Details of the plan and what types of borrowers will be covered under an extension are still being finalized, they said.

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