A variety of special lending rules for specifically regulated financial institutions are being amended and supplemented

DNHN - The State Bank of Vietnam has released Circular 02/2022/TT-NHNN, which amends and supplements several items in Circular No. 08/2021/TT-NHNN governing special loans for credit institutions (CIs).

This Circular goes into effect on May 24, 2022. Special loans with preferential interest rates of up to 0% for commercial banks that were compulsorily purchased before the effective date of Law No. 17/2017/QH14 take effect by the provisions of Clause 2, Article 3 of Law No. 17/2017/QH14. 

Furthermore, the Circular modifies Clause 1 of Article 5 of the Principles of Special Lending and Handling of Special Loans. The amount of the special loan and the purpose of use are defined at Points b, c, dd, Clause 1, Clause 2, Point c, Clause 3, and Point b, Clause 4, Article 4 of this Circular.

The management of special loans lent (including the extension of special loans and interest rates on overdue special loan principles) should be carried out by the restructuring plan and the plan authorized transfer. Point d, Clause 1, Article 4 of this Circular says that for exceptional loans, Clause 2, Article 3 of Law No. 17/2017/QH14 must be followed.

 PV