National Bank of Serbia imposes 90-day moratorium on credit payment

Considering the necessity of maintaining the level reached and a further stabilizing of the financial system in the conditions of potential risks caused by the extraordinary health situation in the country, the National Bank of Serbia, at the extraordinary session of the Executive Board, held on March 17, adopted the decision proscribing a moratorium on the repayment of debtors' liabilities.

The moratorium pertains to all the debtors (natural persons, agriculturists, enterprises and companies) who want to use it, and it entails the pausing of the repayment of the liabilities, which cannot be shorter than 90 days, the duration of the state of emergency implemented due to the pandemic. In the said period, the debtor will not be obliged to pay the credit or leasing liabilities. Of course, the debtors are not prevented from settling their obligations regularly, even after the implementation of these measures.

– Financial stability is necessary in regular and especially in the extraordinary circumstances in the country. The National Bank of Serbia, in coordination with other state organs, is taking and will take all the necessary measures toward protecting the stability and making the position of the citizens and the economy of the Republic of Serbia easier in the extraordinary circumstances. The awareness of the necessity of responsible conduct of all the participants in the market is invaluable in these sensitive times for overcoming the difficulties we might face – said the governor of the NBS, Jorgovanka Tabakovic.

For the duration of the new measures in banks, default interests on due non-settled claims will not be calculated, enforced payment procedures will not be initiated and other legal actions to the end of collecting debts from clients will not be taken. Furthermore, banks or leasing providers will not be able to claim fees for any expenses related to the implementation of the new measures.

Narodna banka Srbije Beograd

moratorium

credits

repayment of credit

state of emergency

coronavirus