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Friday, September 22 2017 @ 08:11 PM AST

The Bahamas: No relaxation of lending guidelines necessary after Hurricane Irma

The Central Bank of The Bahamas yesterday advised that in the aftermath of Hurricane Irma no general relaxation is being made to existing guidelines on lending to the private sector. However, supervised financial institutions (SFIs) may use their discretion to temporarily loosen credit terms in Family Islands where clients have been directly harmed by the storm.

Fortunately, the major economic centres were spared significant damage. As a result, SFIs are not expected to experience any material, adverse effects on their credit exposures.

The Central Bank’s SFIs that provide lending include commercial banks and credit unions.

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