On September 7, 2021, the State Financial institution formally issued Round No. 14/2021/TT-NHNN amending and supplementing quite a lot of articles of Round No. 01/2020/TT-NHNN dated March 13/ 2020 of the Governor of the State Financial institution of Vietnam, offering for credit score establishments and international financial institution branches to restructure debt reimbursement phrases, exempt or cut back curiosity and charges, and preserve debt teams as a way to help prospects affected by the Covid-19 epidemic. -19.
Accordingly, Article four of the Round stipulates that credit score establishments, international financial institution branches shall restructure the reimbursement time period for the excellent stability of principal and/or curiosity of a debt (together with money owed underneath the scope of regulation of the Authorities’s Decree No. 55/2015/ND-CP dated June 9, 2015 on credit score insurance policies for agricultural and rural improvement (amended and supplemented) when assembly the necessities of the Authorities. fulfill some situations:
Firstly, excellent loans arising earlier than August 1, 2021 from lending and monetary leasing actions (the outdated regulation was June 10, 2020).
Secondly, there may be an obligation to repay the principal and/or curiosity within the interval from January 23, 2020 to June 30, 2022.
Third, the excellent stability of a debt shall be rescheduled for reimbursement in one of many following instances:
– The excellent stability of the debt is due or overdue as much as 10 days from the due date of fee, the reimbursement time period in response to the contract or settlement;
– The excellent stability of the debt arising earlier than January 23, 2020 and overdue within the interval from January 23, 2020 to March 29, 2020;
– The excellent stability of the debt arising from January 23, 2020 to earlier than June 10, 2020 and overdue earlier than Could 17, 2021;
– The excellent stability of the debt arising from June 10, 2020 to earlier than August 1, 2021 and overdue from July 17, 2021 to earlier than September 7, 2021.
Based on the earlier clarification of the SBV, the extension of the debt restructuring interval for an additional 6 months is predicated on the Authorities’s vaccination plan and illness management plan, within the first draft round to gather opinions from stakeholders. As a unit within the State Financial institution of Vietnam, the Banking Inspection and Supervision Company has evaluated and proposed the rescheduling of debt reimbursement, exemption and discount of curiosity and charges, and holding the debt group unchanged to be utilized to excellent debt balances. born between January 23, 2020 and June 30, 2022 is suitable to higher help companies and folks affected by the epidemic, accordingly, prospects affected by the Covid epidemic -19 may have a further interval of 6 months to revive manufacturing and enterprise.
Thus, mainly, the State Financial institution stored the contents proposed within the beforehand revealed Draft Round.
In the meantime, the Banking Affiliation proposed to amend Round 01 within the path of extending the debt restructuring time to “after three months from the date the Prime Minister introduced the top of the epidemic”. The Banking Affiliation stated that if the time change comes after three months from the date of the top of the epidemic as proposed by this company, the State Financial institution is not going to have to fret about repeatedly amending the Round.
