In a statement, the BSP said it implemented loan reprieve last year based on RA No. 11469 or the Bayanihan to Heal as One Act. However, the grace period under the said law "ceased to apply affective 01 June 2020," it said.
"The Omnibus Guidelines issued by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases does not operate to extend the 30-day grace period provided for under RA No. 11469," the BSP said. LOOK: BSP Clarifies no extension of 30-day grace period for payment of loans; but encourages banks to continue to provide relief measures by renewing, restructuring or extending terms based on their assessment of their cash flows @ANCALERTS pic.twitter.com/VbVOtZhZQ7The central bank urged BSP-supervised financial institutions to continue to provide relief measures to their clients by renewing, restructuring or extending the terms of the loans based on their assessment of their cash flow.
Consumers last year were able to avail of loan reprieve as the government sought ways to mitigate the impact of COVID-19 restrictions on Filipinos.
Bank pa din Private pa din Pera kaya depositors yun.