According to the Law amending and supplementing a number of articles of the Law on Credit Institutions that has just been passed, the authority to decide on special loans with 0% interest rate/year without collateral has been increased.
Governor of the State Bank of Vietnam Nguyen Thi Hong. Photo: Pham Thang
Specifically, the law stipulates: "The State Bank shall decide to grant special loans with or without collateral to credit institutions in the cases specified in Clause 1, Article 192 of this Law. The collateral for special loans from the State Bank shall be as prescribed by the Governor of the State Bank. The interest rate for special loans of the State Bank shall be 0%/year."
Reporting on the acceptance, explanation and revision of the draft law before the National Assembly 's approval, Governor of the State Bank of Vietnam Nguyen Thi Hong said that special lending from the State Budget is only carried out when credit institutions fall into a state of liquidity difficulty, or to carry out compulsory recovery and transfer with the goal of ensuring system safety and ensuring the rights of depositors.
The Law amending and supplementing a number of articles of the Law on Credit Institutions also stipulates that debt trading and handling units have the right to seize collateral assets of bad debts. This can only be done when the credit institution has a prior agreement with the borrower. The collateral assets seized must not be disputed assets in a case that has been accepted but has not been resolved or is being resolved in court.
The Law stipulates that during the implementation process, credit institutions are not allowed to apply measures that violate the prohibitions of the law or are contrary to social ethics. According to Governor Nguyen Thi Hong, in order to strictly implement the seizure of assets, the Government proposes to only amend the draft Law in the direction of adding the provision that "secured assets to be seized must meet the conditions prescribed by the Government".
Then, the drafting agency will coordinate with relevant agencies, ministries and branches such as the Ministry of Public Security, Ministry of Justice, Ministry of Foreign Affairs... to study the conditions of the collateral of bad debts that credit institutions are entitled to seize.
Regarding collateral that is evidence in a criminal case, material evidence, and means of administrative violation in an administrative violation case, the Government has accepted the opinions of the National Assembly Standing Committee and revised the draft Law in the direction of regulating the return of collateral that is evidence in a criminal case at the request of the secured party if the secured contract has an agreement that the secured party agrees to allow the secured party to seize the collateral of the bad debt when there is a case of handling the collateral in accordance with the provisions of law on securing the performance of obligations.
Regarding the Law's effectiveness, in order to have enough time to research and develop a Government Decree regulating the conditions of collateral for bad debts and ensuring the implementation of the Law, the Government proposes that the Law's effective date is October 15, 2025.
Source: https://nld.com.vn/ngan-hang-nha-nuoc-duoc-quyet-cho-vay-dac-biet-lai-suat-0-196250627093141326.htm
Comment (0)