Moratorium on Loan Payments as Mandated by Republic Act No. 11494, or the Bayanihan to recover as One Act (Bayanihan 2)
Please be informed that the Banko Sentral ng Pilipinas mandates all financial institutions under its jurisdiction to implement a 60-day moratorium on loan payments as mandated by Republic Act No. 11494, or the Bayanihan to Recover as One Act (Bayanihan 2), which President Rodrigo Duterte signed into law on 11 September 2020. The memorandum “requires all covered institutions to implement a mandatory, one-time, 60-day grace period to all loans that are existing, current and outstanding, falling due, or any part thereof, on or before December 31, 2020.”
Anent to this, the Accounting Office will implement the 60-day moratorium on loan payments effective October 2020 to November 2020. Deductions will resume on 1 December 2020. Those employees who want to continue payment of their loans (GSIS, Pag-ibig, UPVEC and Provident Fund) are requested to inform the Accounting Office thru their email at: This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it. on or before 4:00 PM of Friday, 02 October 2020. The moratorium on non-payment is automatic unless the personnel will signify non-availment.
PROF. MARY ANN T. GUMBAN
Vice Chancellor for Administration
