We have introduced “credit vacations” – special grace period for servicing loans for those who have so far paid faithfully on a loan, but faced financial diﬃculties due to the quarantine. The result is that banks give borrowers the opportunity to make payments on consumer loans after the quarantine without penalties or late payment fees.
Most banks are already providing the opportunity to restructure loans to make it easier for customers to service debt after the lockdown has ended. The second solution applies to deposits. We have prohibited banks from imposing any restrictions on withdrawals. We have bet on the reliability of banks and the confidence of depositors in them, and we have been right.