Home
Contact us
Map
Main services
Circular No. 27/2009/TT-NHNN dated December 18, 2009 of the State Bank detailing the interest rate support for organizations and individuals borrowing medium- and long-term bank loans in 2010 for inve
26/04/2011
Share |

THE STATE BANK OF VIETNAM

 

 

No. 27/2009/TT-NHNN

SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
----------

 

Hanoi, December 18, 2009

 

CIRCULAR

 

DETAILING THE INTEREST RATE SUPPORT FOR ORGANIZATIONS AND INDIVIDUALS BORROWING MEDIUM- AND LONG-TERM BANK LOANS IN 2010 FOR INVESTMENT IN PRODUCTION AND BUSINESS DEVELOPMENT

 

THE STATE BANK OF VIETNAM

 

Pursuant to the Government's Resolution No. 54/NQ-CP of November 11, 2009, on the Government's October 2009 regular meeting;

Pursuant to the Prime Minister's Decision No. 2072/QD-TTg of December 11, 2009, on the interest rate support for Vietnam-dong medium-and long-term bank loans borrowed by organizations and individuals;

Pursuant to the Prime Minister's Decision No. 443/QD-TTg of April 4, 2009, on the interest rate support for organizations and individuals borrowing medium- and long-term bank loans for investment in production and business development;

The State Bank of Vietnam details the interest rate support for organizations and individuals borrowing medium- and long-term bank loans in 2010 for investment in production and business development (below referred to as interest rate support) as follows:

 

Article 1. Purposes of interest rate support

In 2010, the State will provide interest rate supports for organizations and individuals borrowing Vietnam-dong medium- and long-term loans according to the method defined in Decision No. 443/QD-TTg of April 4, 2009, in order to support economic growth recovery, economic restructuring and stabilization of the macro economy.

Article 2. Subjects and scope of application

1. Credit institutions providing loans to organizations and individuals, including:

a/ State commercial banks, joint-stock commercial banks, joint-venture banks, Vietnam-based branches of foreign banks, wholly foreign-owned banks and the Central People's Credit Fund (below collectively referred to as commercial banks).

b/ Finance companies (except specialized finance companies operating in the domain of consumer credit and credit card under law) which properly observe regulations of the State Bank of Vietnam on safety ratios in operations of credit institutions and appropriation and use of provisions for credit risks in banking operations and have a proportion of bad debts to the total outstanding loans of below 5%.

2. Borrowers eligible for interest rate support, including organizations and individuals that borrow loans from commercial banks or finance companies to invest in production and business development in the country under Article 1 of the State Bank Governor's Decision No. 127/ 2005/QD-NHNN of February 3,2005, amending and supplementing a number of articles of the Regulation on the provision of loans by credit institutions to customers, issued together with Decision No. 1627/2001/QD-NHNN of December 31, 2001.

3. Loans eligible for interest rate support are Vietnam-dong medium- and long-term loans granted for investment in production and business development under credit contracts signed before or after January 1, 2010, but actually disbursed (in lump sum or installments) in the period from January 1, 2010, to December 31, 2010, and inventoried under the Regulation on statistical reports applicable to units under the State Bank of Vietnam and credit institutions issued together with the State Bank Governor's Decision No. 477/2004/QD-NHNN of April 28, 2004, and Decision No. 143 TCTK/PPCD of December 22, 1993, of the General Director of the General Statistics Office of Vietnam, promulgating the system of grade-II, grade-Ill and grade-IV economic branches and the list national economic branches, including:     

a/ Agriculture and forestry;       

b/ Fisheries;     

c/ Processing industries;

d/ Scientific and technological activities;

e/ Purchase of and trading in farm produce, forest and fisheries products and salt."

Article 3. Principles on interest rate support, loan term and level and method of interest rate support

1. Interest rate support will be provided on the principle that commercial banks and finance companies shall provide long- and medium-term loans for investment in production and business development according to the ordinary lending mechanism and provide interest rate "support in strict accordance with the Prime Minister's regulations and the State Bank of Vietnam's guidance.

2. The maximum term of loans eligible for interest rate support is 24 months, counting from the date of provision, for loans under credit contracts signed before or after January 1, 2010, but actually disbursed in the period from January 1, 2010, to December 31, 2010. Interest rate support will be provided from January 1, 2010, to December 31,2012. Loan s eligible for interest rate support which are overdue or extended or have a term of over 24 months are not entitled to interest rate support in the overdue or extension period exceeding period exceeding 24 months.

3. The interest rate support level for borrowers is 2%/year calculated on the actual loan amount and term.

4. In case a customer that borrows Vietnam-dong medium- or long-term loans eligible for interest rate support has a Vietnam-dong or foreign currency account credit balance and valuable papers (below collectively referred to as deposit account credit balance); or loans are pledged or guaranteed with Vietnam-dong or foreign currency valuable papers, savings books or other monetary forms (below collectively to as valuable* papers), interest rate support will be provided-j|£ follows:

a/ In case the borrower has deposit account credit balance at the lending commercial bank or finance company and other credit institutions, when signing the credit contract, the commercial bank or finance company shall calculate the whole amount of deposit account credit balance as the borrower's own capital and exclude this amount from the loan amount to be provided. The borrower shall report to the commercial bank or finance company on his/her Vietnam-dong or foreign-currency deposit account credit balance and valuable papers at other credit institutions and take responsibility for the lawfulness and accuracy of his/her report. The borrower's Vietnam-dong or foreign-currency deposit account credit balance is on demand and time deposits; time savings, demand savings and other savings, excluding special-use capital deposit account credit balance, collaterals and frozen deposits as prescribed by law.

b/ In case a loan is pledged with valuable papers, when signing the credit contract, the commercial bank or finance company shall calculate the whole value of valuable papers as the borrower's own capital and exclude this amount from the loan amount to be provided.

c/ In case a loan is guaranteed with valuable papers, the commercial bank or finance company shall provide interest rate support for the difference between the outstanding loan amount and the value of the borrower's valuable papers at the time of signing the credit contract.

d/ Deposit account credit balance and valuable papers in foreign currencies will be converted into Vietnam dong at the buying foreign-currency rate set out by the commercial bank or finance company at the time of determining deposit account credit balance and the value of valuable papers.

5. The method of interest rate support is that when collecting loan interests, commercial banks shall subtract the amount of interest rate support from the payable interest amount of borrowers. The State Bank of Vietnam shall transfer the interest rate support already provided on the basis of reports on interest rate support amounts of commercial banks and finance companies.

Article 4. Procedures and responsibilities of borrowers, commercial banks and finance companies for providing interest rate support

1. Borrowers having loans eligible for interest rate support shall:

a/ In the period from January 1 to December 31,2010, when borrowing loans for the first time at a commercial bank or finance company, send a written request for interest rate support, made according to form 01 provided in the Appendix to this Circular - not printed herein, to the lending commercial bank or finance company.

b/ Use loans for proper purposes as stated in the credit contracts. If using loans for improper purposes, they will not be provided with interest rate supports and shall refund the granted amount of interest rate support to commercial banks or finance companies and be handled under law.

c/ Comply with regulations of commercial banks and finance companies on the procedures for loan borrowing, interest rate support and reporting.

d/ Account according to law the amount of loan interests in strict accordance with the interest amount payable to commercial banks or finance companies after receiving interest rate support.

e/ Request commercial banks or finance companies to provide interest rate support under the Prime Minister's regulations and the State Bank of Vietnam's guidance.

f/ Provide sufficient and truthful information and documents to commercial banks or finance companies to prove the use purposes of loans eligible for interest rate support and take responsibility before law for the accuracy of such information and documents.

2. Commercial banks and finance companies shall:

a/ Provide interest rate support to borrowers under the Prime Minister's regulations and the State Bank of Vietnam's guidance; refrain from refusing to provide interest rate support for eligible loans; make periodical reports to the State Bank of Vietnam for inspection and supervision of the interest rate support.

b/ Based on use purposes of loans eligible for interest rate support, include^ credit contracts contents related to the interest rate support in accordance with law; we illegal requests for interest rate support.  

c/ Chairmen of the boards of doctors or directors general (directors) of commercial banks
and finance companies shall take responsibility and be handled according to law fracases of
illegal provision of interest rate support. Violations of commercial banks and finance companies shall be taken into accent upon annual ranking, consideration of chapter capital supplementation and grant of licenses for extension of operation networks of commercial banks.  3

d/Apply the ordinary lending mechanism and interest rates to loans eligible for interest rate support in accordance with the Regulation on provision of loans by credit institution to customers, issued together with Decision No. 1627/2001/QD-NHNN and other relevant legal documents.

e/ Conduct inspection before, during and after providing loans and collaborate with one another in inspecting and appraising loans so as to ensure the lawful provision of interest rate support. If detecting that borrowers use loans for improper purposes, recover interest rate support amounts already provided. If unable to recover these amounts, report the problem to competent state agencies for handling or initiation of lawsuits against borrowers' breaches of credit contracts.

f/ Provide guidance to borrowers so as to ensure the convenient and safe provision of loans to eligible borrowers.

g/ When collecting loan interests from borrowers; subtract the interest amount eligible for interest rate support from the payable loan interest amount of borrowers in accordance with law. By December 31, 2012, if loan interests are not yet due, commercial banks and finance companies shall calculate interest amounts to be payable by borrowers and subtract the interest amounts eligible for interest rate support from the payable interest amounts. The calculation and collection of loan interests must comply with law. Commercial banks and finance companies shall account and monitor loan interest amounts eligible for interest rate support as follows:

- Account the whole amount of loan interests as income under current financial regulations: The amount of loan interests eligible for interest rate support transferred from the State Bank of Vietnam shall be accounted in a separate account under the State Bank of Vietnam's guidance *on accounting interest rate support amounts in 2010.

- Mate statements (or build a database) for monitoring in detail loans eligible for interest rate support (borrowers, loan amounts, loan term and lending interest rates, interest rate support amounts) which shall be sent to borrowers, used for internal supervision, statistics and audit, reported to the State Bank of Vietnam and serve the inspection and supervision by competent state agencies.

h/ Issue certificates of interest rate support which bear the certification of borrower and lending commercial bank or finance company (through their signatures and seals) for use as documents for inspection and supervision. A certificate of interest rate support will be made in 2 copies, one enclosed with the credit records and the other sent to the borrower. Certificates of interest rate support shall be made upon each collection of loan interests and subtraction of loan interest amounts eligible for interest rate support or on a monthly basis in conformity with the time limit for sending reports on interest rate support to the State Bank of Vietnam. For peasant households, certificates of provision of interest rate support will be made in the last month of each quarter in the duration of interest rate support.

i/ Send written registration of plans on interest rate support and reports on interest rate support amounts to the State Bank of Vietnam as follows:

- The registrations of quarterly plans on interest rate support shall be made on a quarterly basis according to form 02 provided in the Appendix to this Circular (not printed herein) and sent no later than the 10th of the first month of the subsequent quarter.

- Monthly reports on interest rate support will be made according to forms No. 03 and 04 provided in the Appendix to this Circular (not printed herein) and sent no later than the 10th of the month following the reporting month.

j/ Promptly and accurately monitor and make statistics on loans eligible for interest rate support in service of internal audit, reporting to the State Bank of Vietnam and inspection and supervision by competent state agencies; open accounts or apply appropriate management systems to separately account loans eligible for interest rate support.

k/ Manage and keep dossiers of loans eligible for interest rate support under Article 55 of the Law on Credit Institutions and relevant laws.

Article 5. Responsibilities of the State Bank of Vietnam

1. Monthly, to transfer up to 90% of loan interest amounts for which interest rate supports have been provided as reported by commercial banks and finance companies. To transfer the remaining amounts after receiving finalization reports on interest rate support from commercial banks and finance companies.

2. To assume the prime responsibility for, and collaborate with the Ministry of Finance and relevant ministries and branches in, inspecting and supervising the implementation of the law on interest rate support in case of necessity.

3. Responsibilities of units under the State Bank of Vietnam in assisting the State Bank Governor in performing interest rate support tasks:

a/ The Monetary Policy Department shall collaborate with units under the State Bank of Vietnam in settling matters related to the interest rate support mechanism; receive registrations of plans and reports on interest rate support from commercial banks and finance companies; notify interest rate support amounts already transferred to commercial banks and finance companies; guide the finalization of interest rate support amounts; and make reports to the Prime Minister.

b/ The Finance-Accounting Department shall settle book-keeping matters related to the interest rate support mechanism (original documents for accounting and transfer of interest rate support amounts).

c/ Transaction Bureaus shall account and transfer interest rate support amounts to commercial banks and finance companies under the notices of the Monetary Policy Apartment and decisions of the State Bank Governor.

d/ The Banking Inspection and Supervision Agency shall inspect, supervise and handle
commercial banks, finance companies and borrowers that violate regulations on interest rate support.

e/ Provincial-level branches of the State Bank of Vietnam shall examine, supervise and inspect the implementation of the law on interest rate support according to their competence and report and propose the State Bank Governor and chairpersons of provincial-level People's Committees to settle arising matters.-

Article 6. Organization of implementation

This Circular takes effect on the date of its signing.

The Chief of the Office, the director of the Monetary Policy Department, heads of units under the State Bank, directors of provincial-level branches of the State Bank, chairmen of boards of directors and directors general (directors) of commercial banks and financial companies, and borrowers shall implement this Circular.-

GOVERNOR OF THE STATE BANK

 

 

 

NGUYEN VAN GIAU


 

Tags: Vietnam Lawfirm, Vietnam Law, Hanoi Law, Lawfirm, Dragon Lawfirm,

Lawyer, Lawyers, Hanoi Lawyer, Saigon Lawyer, Vietnam Lawyer

www.lawfirm.vn

updating...
Older Documents
Online Support
Liên hệ bằng Yahoo! Messenger
If you need advice, please contact via Yahoo! Messenger to get online help.

Lawyer in Hanoi
Contact via Skype
You can use Skype to get online help
Skype Me™!
Search legal documents
Latest Documents
Advertising
Site Information

 
 
 

© Copyright: 2011 DRAGON LAW FIRM  - All rights reserved


Hotline: 1900. 599. 979

Mật ong nguyên chấtChuyên cung cấp sỉ và lẻ mật ong nguyên chất 100% tại TPHCM từ thiên nhiênDịch vụ điện hoa Hoa Tươi 360o với dịch vụ điện hoa chuyên nghiệp, giá hợp lý giúp bạn gởi đến người thân những bó hoa tươi đẹp nhấtShop hoa phong lan Hoa tươi 360o là shop hoa phong lan TPHCM chuyên cung cấp các loại hoa lan hồ điệp và địa lanHoa giỏ Hoa giỏ để bàn tạo cho không gian làm việc trở nên cực kỳ ấn tượng, được sử dụng trong các dịp như đám cưới, tặng sếp, sinh nhật....Hoa bó Hoa tươi 360o giúp bạn gởi đến bạn bè, người thân hoa bó chúc mừng sinh nhật, tốt nghiệp, hoa tặng sếp nam giá hợp lý, giao hoa miễn phí TP. HCMhoa chúc mừng Hoa tươi 360o chuyên điện hoa chúc mừng khai trương: kệ hoa khai trương, giỏ hoa khai trương... với giá hợp lý, giao hoa miễn phí trong TPHCMHoa chia buồn Hoa tươi 360o chuyên điện hoa chia buồn ở TPHCM với giá cả hợp lý, giao hoa miễn phí ở TPHCMHoa chúc mừng sự kiện Hoa chúc mừng sinh nhật, hoa chúc mừng sự kiện tặng bạn bè hoặc người thân những dịp trọng đại, giao hoa miễn phí nội thành TPHCMShop hoa cưới Hoa cưới đẹp giúp đám cưới của bạn thêm ý nghĩa. Gọi 1900 545 587 để được shop hoa cưới - Hoa tươi 360o tư vấn, giao hoa cưới miễn phí ở Bình Thạnh và tại TPHCMhoa tươi Shop Hoa tươi 360o với dịch vụ hoa tươi giúp bạn gởi đến người thân những bó hoa tươi đẹp - giá hợp lý, giao hoa miễn phí tại TPHCMĐặt quần áo đá banh Đặt quần áo bóng đá - Đặt quần áo đá banh ở TPHCM với chất lượng tốt, giá ưu đãi. Gọi 0903 009 041 để Đặt quần áo bóng đá - Đặt quần áo đá banhGiày Futsal PAN Thái LONI chuyên cung cấp các loại giày Futsal PAN Thái Lan giá rẻ trên toàn quốc. Gọi 0903 009 041 gặp MS. Nhi để đặt giày Futsal Pan Thái  giá rẻgiày đá banh cỏ tự nhiên LONI Sport chuyên cung cấp các loại giày đá banh cỏ tự nhiên giá rẻ với nhiêu mẫu mã đẹpGiày đá banh cỏ nhân tạo LONI SPORT kinh doanh sỉ và lẻ giày bóng đá, giày đá banh cỏ nhân tạo, giày futsal Pan Thái Lan với giá cạnh tranh kèm quà tặng hấp dẫngiày đá banh LONI SPORT kinh doanh sỉ và lẻ giày đá banh, giày bóng đá cỏ nhân tạo Fake1, giày futsal Pan Thái Lan với giá cạnh tranh kèm quà tặng hấp dẫnáo bóng đá - áo đá banh LONI Sport chuyên thiết kế và sản xuất quần áo đá banh, áo bóng đá ở TPHCM. Quý khách đặt áo đá banh vui lòng liên hệ: 0983 031 509 - 0903 009 041Shop quần áo đá banh - Shop bán đồ thể thao Shop bán đồ thể thao Loni Sport chuyên bán quần áo đá banh, phụ kiện thể thao như: giày đá banh, túi xách, vớ ...Gọi 0983 031 509 - 0903 009 041DỰ ÁN CĂN HỘ NEWTON RESIDENCE DỰ ÁN CĂN HỘ NEWTON RESIDENCE sẽ chính thức mở bán vào 30/2/2016. LH mua CĂN HỘ NEWTON RESIDENCE 0903414547-0933333188Thay mặt kính Ipad Thay mặt kính Ipad giá rẻ nhất TP. HCM, lấy liền có bảo hànhThay mặt kính Samsung Thay mặt kính Samsung giá rẻ nhất TP. HCM, lấy liền có bảo hànhthay mat kinh Iphone Thay mặt kính Iphone giá rẻ nhất TP. HCM, lấy liền có bảo hànhThay mặt kính Iphone 6S Thay mặt kính Iphone 6S giá rẻ nhất TP. HCM, đặc biệt chờ lấy liền. Nhận thay mắt kính Iphone 6S cho các cửa hàng Cọc khoan nhồi Nền Móng Đất Phương Nam chuyên thi công cọc khoan nhồi mini với phương pháp và thiết bị hiện đại, đội ngũ nhân viên chuyên nghiệp. Gọi ngay 0919 49 8080Phụ kiện nhà bếp Inox 304 Phụ kiện nhà bếp bằng Inox 304 do Hòa Bình Glass sản xuất và phân phối giúp cho các bà nội trợ nhanh chóng giải quyết vấn đề dầu mỡ vì dễ lau chùi, tiện lợi và nhanh chóngGương soi phòng tắm Gương soi phòng tắm do Hòa Bình Glass sản xuất từ nguyên liệu kính Guardian của Mỹ với nhiều mẫu mã phong phúPhụ kiện phòng tắm Hobig chuyên sản xuất và phân phối phụ kiện phòng tắm, liên hệ để có bảng giá sỉ phụ kiện phòng tắm phù hợp cho mọi nhàPhụ kiện nhà bếp Hòa Bình Glass chuyển sản xuất và phân phối phụ kiện nhà bếp. Liên hệ để có bảng giá phụ kiện nhà bếp cho đại lýthay mặt kính Iphone 6s Plus thay mặt kính Iphone 6s Plus giá rẻ nhất TP. HCM, đặc biệt chờ lấy liền và có bảo hành đầy đủ

Thám tử Văn phòng luật sư |   Luật sư bào chữaVietnam lawfirm |  Quảng cáo trực tuyến |  Thiết bị camera |  đại lý vé máy bay |  Thám tử hà nội | dịch vụ thám tử | Thám tử tại hà nội | thám tử sài gòn | thuê thám tử tại sài gòn | Thám tử tại sài gòn | Thám tử hải phòng | Thám tử | Thám tử tư |
quảng cáo facebook