March 26, 2020
CORPORATE GOVERNANCE AND FINANCE DEPARTMENT
| TO | : | Financing Companies (FCs) and Lending Companies (LCs) |
| SUBJECT | : | Republic Act No. 11469 or the Bayanihan to Heal as One Act |
NOTICE
Notice is hereby given to all financing companies (FCs) and lending companies (LCs) of the relevant provisions of Republic Act No. 11469, or the Bayanihan to Heal As One Act, thus:
SEC. 4. Authorized Powers. — Pursuant to Article VI, Section 23 (2) of the Constitution, the President is hereby authorized to exercise powers that are necessary and proper to carry out the declared national policy. The President shall have the power to adopt the following temporary emergency measures to respond to crisis brought by the pandemic:
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(aa) Direct all banks, quasi-banks, financing companies, lending companies, and other financial institutions, public and private, including the Government Service Insurance System, Social Security System and Pag-IBIG Fund, to implement a minimum of a thirty (30)-day grace period for the payment of all loans, including but not limited to salary, personal, housing, and motor vehicle loans, as well...
