Boards of directors need to take a direct interest in whether the rescheduling arrangements that have been put in place are working and treat their customers fairly on this point. They need to satisfy themselves that the banks’ strategy for mortgage arrears is up to the task. More of that in a moment.
It proposes to bring non-bank lenders also under its ambit for enhanced effectiveness. x. The Basel Committee issued the Principles for Sound Stress Testing Practices and Supervision in May 2009. In tune with these principles, the extant Reserve Bank guidelines on stress testing have been updated.