The period for applications for loan moratoria from banks to clients has been extended to September 30.

The Central Bank said on Wednesday that it had issued a legal notice extending the period from the original deadline of June 30. 

Licensed credit and financial institutions were given instructions on April 13 to grant loan moratoria, as the economy shut down due to coronavirus concerns. 

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The deadline has now been extended due to the uncertainty surrounding the speed of the economic recovery and the knock-on effects on output and employment.  

In the case of new eligible applicants, the moratorium granted will be for a period of six months.

The updated directive can be read here while the updated guidelines are available here.

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