Proposal submission commences for non-performing asset regulation

The American Chamber of Commerce in Mongolia

2018-04-09 16:59 GMT+8

In order to support banks in decreasing their numbers of non-performing assets and to strengthen monitoring, the Bank of Mongolia has developed a draft of guidelines for decreasing non-performing assets.

The draft has been published on the central bank's website and is now open for the submission of proposals regarding the regulation. Analysts say that an increase in the number of non-performing assets in the banking sector has been impacting the additional cost of loan financing and diminishing the value of available capital movement in the economy.

The draft regulation consists of three parts: a strategy for reducing the number of non-performing assets; management and governance guidelines; and improved reporting on non-performing assets.

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