Definitions.

CFR · 2024-01-01 · US · Title 12

For the purposes of this subpart: (a) (b) (c) (d) (e) (f) (1) The borrower is unable to service the existing loan according to its terms and is a resident of a foreign country in which there is a generalized inability of public and private sector obligors to meet their external debt obligations on a timely basis because of a lack of, or restraints on the availability of, needed foreign exchange in the country; and (2) The terms of the existing loan are amended to reduce stated interest or extend the schedule of payments; or (3) A new loan is made to, or for the benefit of, the borrower, enabling the borrower to service or refinance the existing debt. (g)

official document · source cfr-2024 · id 12:§ 211.42