Central Bank announces more measures to back economy – Gulf Today

Central Bank announces more measures to back economy – Gulf Today

"The CBUAE expects banks and finance companies to make active use of the TESS facility, for the benefit of their customers and the UAE economy.". Banks and finance companies participating in the TESS programme will be able to extend to their customers' deferrals of principal and interest until Dec.31 2020.. For banks and finance companies participating in the TESS programme, the CBUAE has granted an extension of the zero-cost funding facility against collateral until 31December 2020.. Banks participating in the TESS programme will be able to use a third of their current regulatory liquidity buffers.. CBUAE has issued a new requirement for all banks to apply a prudential filter to IFRS 9expected loss provisions..