On the morning of June 27, with 435/443 delegates in favor (accounting for 91% of the total number of National Assembly delegates), the National Assembly passed the Law amending and supplementing a number of articles of the Law on Credit Institutions. The Law takes effect from October 15.
The new content of the law just passed by the National Assembly decentralizes the decision-making power on special loans with a 0% interest rate per year, without collateral, from the Prime Minister to the Governor of the State Bank of Vietnam (SBV).
Governor of the State Bank of Vietnam. (Photo: National Assembly Media).
Explaining the content before the National Assembly voted, Governor of the State Bank Nguyen Thi Hong emphasized that special loans from the State Budget can only be made 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 of bad debts. This can only be done when the credit institution has a prior agreement with the borrower.
The seized collateral is not the disputed property in a case that has been accepted but has not been resolved or is being resolved in court.
To avoid abusing the right to seize assets, the law stipulates that during the implementation process, credit institutions must not apply measures that violate the prohibitions of the law or are contrary to social ethics.
Delegates pressed the button to pass the Law on the morning of June 27. (Photo: National Assembly Media).
Previously, when discussing this content, National Assembly deputies proposed adding a coordination mechanism between the government and commune-level police agencies to suit the legitimate interests of people whose money is confiscated.
State Bank Governor Nguyen Thi Hong said the law only stipulates the participation of the People's Committee and the commune-level police in the process of asset seizure, which is basically consistent with the rearrangement of administrative units and two-level government.
To strictly implement asset seizure, the Government proposes to only amend the draft Law in the direction of adding a provision that "secured assets to be seized must meet the conditions prescribed by the Government".
Based on this additional regulation, the drafting agency will coordinate with relevant agencies, ministries and branches (Ministry of Public Security, Ministry of Justice, Ministry of Foreign Affairs...) to study the conditions of collateral assets of bad debts that credit institutions are entitled to seize. This, according to the Government, is to concretize the policy of developing the private economy according to Resolution 68 of the Politburo.
Source: https://vtcnews.vn/thong-doc-nhnn-duoc-cho-vay-dac-biet-lai-suat-0-khong-tai-san-dam-bao-ar951287.html
Comment (0)