Many banks reported that they have tightened underwriting standards in this segment, including requirements for higher borrower equity, stronger debt coverage ratios, lower vacancy rates, as well as stronger personal guarantees.
Amendments have been made to the Central Bank Act to cater for temporary advances to the government and purchase of government securities in force majeure events. Other relevant legislations have also been 1/2  BIS central bankers' speeches  amended, allowing for the suspension or variation of certain prudential requirements, as deemed necessary.