The Monetary Board at the Central Bank authorized the use of US$11.5 billion remaining from the release of the legal reserve to stimulate the private sector. This is in addition to RD$23.5 billion that recently had been made available to banks for lending.
The Monetary Board authorized lending up to 8% interest rate for productive sectors, consumption and personal loans and up to 9% interest rate for housing mortgage loans with a minimum term of five years. The Monetary Board also approved as of 27 October 2017 the new version of the Asset Assessment Regulation in regards to small and medium-sized enterprise debtors, refinishing and aspects related to appraisal and guarantees. As of 2 January 2018, this regulation is effective.
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Banco Central
Listin Diario
30 October 2017
