Vice Chairman of the National Assembly Vu Hong Thanh chaired the meeting.
The Law amending and supplementing a number of articles of the Law on Credit Institutions consists of 3 articles, effective from October 15, 2025.
The Law stipulates that 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 is 0%/year.
Regarding the right to seize secured assets, the Law stipulates that the guarantor, the person holding the secured assets of a bad debt, is obliged to hand over the secured assets along with the legal documents and records of the secured assets to the credit institution, foreign bank branch, debt trading and settlement organization for settlement according to the agreement in the security contract or in other documents and the provisions of law on securing the performance of obligations.
In case the guarantor or the person holding the secured property does not hand over the secured property to the credit institution, foreign bank branch, debt trading and settlement organization for settlement, the credit institution, foreign bank branch, debt trading and settlement organization may seize the secured property in accordance with the provisions of this Article.
The People's Committee at the commune level and the police agency at the commune level where the secured assets are seized shall, within the scope of their functions, tasks and powers, ensure security, order and social safety during the process of seizing the secured assets.
In case the guarantor does not cooperate or is not present as notified by the credit institution, foreign bank branch, debt trading and settlement organization, the representative of the People's Committee at the commune level where the secured asset is seized shall participate in witnessing and signing the minutes of seizure of the secured asset.
A credit institution is only authorized to seize secured assets to the debt management and asset exploitation company of that credit institution; a debt purchase and settlement organization is only authorized to seize secured assets to the debt-selling credit institution, the debt management and asset exploitation company of the debt-selling credit institution; a credit institution that is subject to compulsory transfer is authorized to seize secured assets to the credit institution receiving the compulsory transfer or the debt management and asset exploitation company of the credit institution receiving the compulsory transfer.
According to the Law, the assets of the party subject to enforcement are being used as collateral for bad debts at credit institutions, foreign bank branches, debt trading and handling organizations that are subject to seizure and handling in accordance with the provisions of the law on civil enforcement when falling into one of the following cases: the security contract has been signed and comes into effect after the time the judgment or decision of the Court takes legal effect; enforcement of judgments or decisions on alimony, compensation for damage to life and health; with written consent of the credit institution, foreign bank branch, debt trading and handling organization.
Nguyen Hoang
Source: https://baochinhphu.vn/quoc-hoi-thong-qua-luat-sua-doi-bo-sung-mot-so-dieu-cua-luat-cac-to-chuc-tin-dung-102250627094826446.htm
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