Property assets: BAM will harden the tone



By The Economist 20/08/2018 – 12:56 | parts
Property assets: BAM will harden the tone

High in debt, developers of real estate have transferred their difficulties in banks' balance sheets. These have reclaimed several properties for the repayment of part of the debts. The liquidity of these goods raises questions in the current context. Bank Al-Maghrib (BAM) is finalizing a circular in which the payments are framed. The idea is mainly to reduce banks' exposure to property risks. The central bank will require the valuation of assets upon entry and during their business, their proactive management and their identification at the accounting level. The certification of the auditors is required. The regulator will draw on the experience of his Spanish counterparty to lead this project.

N. S.


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Property assets: BAM will harden the tone



By The Economist 20/08/2018 – 12:56 | parts
Property assets: BAM will harden the tone

High in debt, developers of real estate have transferred their difficulties in banks' balance sheets. These have reclaimed several properties for the repayment of part of the debts. The liquidity of these goods raises questions in the current context. Bank Al-Maghrib (BAM) is finalizing a circular in which the payments are framed. The idea is mainly to reduce banks' exposure to property risks. The central bank will require the valuation of assets upon entry and during their business, their proactive management and their identification at the accounting level. The certification of the auditors is required. The regulator will draw on the experience of his Spanish counterparty to lead this project.

N. S.


Source link

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