The Board of the BCRA established a gradual transition period until the end of the month for financial institutions to report as debtors the borrowers who have deferred loan payments.
From April, borrowers in default will be able to refinance their loans with a financial institution within the next two months before being in arrears.
Thus, the borrowers failing to pay loans in April and May will neither be reported as debtors nor be uploaded to the Debtors’ Database. As from June, financial institutions will classify debtors according to the arrears criteria in effect in March 2020—when the BCRA adopted emergency measures within the framework of the National Government’s policies on preventive and compulsory social lockdown, and on preventive and compulsory social distancing.
These measures will have no impact on financial institutions’ liquidity and solvency position thanks to their high level of provisioning.
March 25, 2021.