On May 23, the Governor of the State Bank of Vietnam issued Directive No. 02/CT-NHNN on strengthening credit activities and implementing policies on restructuring debt repayment terms and maintaining debt groups to support customers facing difficulties as prescribed in Circular 02/2023/TT-NHNN dated April 23.
For credit institutions , the Governor of the State Bank of Vietnam directed to focus on implementing solutions for safe and effective credit growth, improving credit quality, and controlling and handling bad debt.
Continue to cut costs to reduce lending interest rates and fees to support businesses and people to recover and develop production and business.
Actively implement credit programs and policies for a number of sectors and fields under the direction of the Government and the Prime Minister , including a credit package of 120,000 billion VND for investors and home buyers of social housing projects, worker housing projects, and projects to renovate and rebuild old apartments.
Deploy with the highest determination the program of interest rate support from the state budget for loans of enterprises, cooperatives, and business households according to Decree 31/2022/ND-CP, not allowing any enterprise, cooperative, or business household that is subject to interest rate support and in need to not receive timely support.
Promote effective implementation of the Bank-Business Connection Program; promptly implement solutions to remove difficulties and create favorable conditions for people and businesses to access credit capital.
The Governor requested credit institutions to promptly issue and immediately implement internal regulations on restructuring debt repayment terms and maintaining debt groups as prescribed in Circular 02/2023/TT-NHNN. Any acts causing difficulties, troubles, or issuing additional conditions and procedures other than those prescribed in Circular 02/2023/TT-NHNN are strictly prohibited.
The Chairman of the Board of Members/Board of Directors and General Directors of credit institutions directly direct the implementation of debt restructuring and maintaining the debt group according to Circular 02/2023/TT-NHNN and are responsible to the Governor of the State Bank of Vietnam for the implementation results.
At the same time, there are strict measures to handle units and individuals who are slow to implement, intentionally cause difficulties, lack responsibility, and do not comply with regulations.
Strengthen communication and publicity of documents and procedures for restructuring debt repayment terms and maintaining debt groups so that customers can grasp information and understand correctly and fully the policy.
Timely answer customers' questions about documents and procedures, create favorable conditions to support customers in completing documents and soon accessing support policies.
Organize the implementation of the policy of restructuring debt repayment terms and maintaining the debt group in accordance with regulations; closely monitor, ensure safety, prevent and stop the exploitation of restructuring debt repayment terms and maintaining the debt group to collude and take advantage of the policy.
Perform debt classification, risk provisioning and accrued interest accounting in accordance with legal regulations.
Timely and fully report the results of debt restructuring and maintaining the debt group in accordance with the regulations and instructions of the State Bank.
Proactively handle difficulties and problems in the system and promptly report and propose to the State Bank, Ministries, Branches, Provincial and Municipal People's Committees measures to handle difficulties and problems beyond their authority during the implementation process.
For the State Bank branches in provinces and centrally run cities , the Governor directed to actively implement credit programs and policies under the direction of the Government and the Prime Minister for industries and sectors, and a credit package of VND 120,000 billion for investors and home buyers of social housing projects, worker housing projects, and projects to renovate and rebuild old apartments.
Continue to resolutely implement the interest rate support program from the state budget for loans of enterprises, cooperatives, and business households according to Decree 31/2022/ND-CP, not allowing any enterprise, cooperative, or business household that is subject to interest rate support and in need to not receive timely support.
| Previously, the Governor of the State Bank of Vietnam issued Circular 02/2023/TT-NHNN dated April 23, stipulating that credit institutions and foreign bank branches restructure debt repayment terms and maintain debt groups to support customers facing difficulties in production and business activities and customers facing difficulties in repaying loans for living and consumption needs. |
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