BoE updates IFRS 9 guidance as UK extends payment holidays

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By Tyler Davies
22 May 2020

The Bank of England has reminded UK lenders to apply ‘sound risk management practices’ in the capital treatment of their mortgages amid Covid-19, after the Financial Conduct Authority extended its payment holiday scheme by another three months.

The FCA said on Friday morning that payment holidays should not come to an abrupt for mortgage borrowers in the next month.

Banks should instead be offering customers further forbearance if they have been affected by the coronavirus pandemic, according to Christopher Woolard, interim chief executive of ...

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