Credit institutions consider restructuring debt repayment periods from December 4, 2024 to December 31, 2025, with no limit on the number of times debt repayment periods can be restructured.
Pursuant to Decision No. 1510 of the Prime Minister, dated December 10, the State Bank issued Circular No. 53/2024/TT-NHNN on restructuring debt repayment terms for customers facing difficulties due to the impact and damage of storm No. 3, flooding and landslides after storm No. 3. The debt restructuring period is until the end of 2025.
According to the Circular, credit institutions and foreign bank branches are allowed to consider and decide to restructure the repayment period for principal and interest for customers in 26 provinces and cities facing difficulties due to the impact and damage of storm No.
Provinces and cities include: Ha Giang, Cao Bang, Lang Son, Bac Giang, Phu Tho, Thai Nguyen, Bac Kan, Tuyen Quang, Lao Cai, Yen Bai, Lai Chau, Son La, Dien Bien, Hoa Binh, Hanoi, Hai Phong, Hai Duong, Hung Yen, Vinh Phuc, Bac Ninh, Thai Binh, Nam Dinh, Ha Nam, Ninh Binh, Quang Ninh, Thanh Hoa.
Credit institutions and foreign bank branches are allowed to consider restructuring the principal and interest balance of loans and financial leases with principal balance arising before September 7, 2024 and debt repayment obligations arising from September 7, 2024 to December 31, 2025.
Credit institutions shall consider restructuring the debt repayment period from the effective date of this Circular (December 4, 2024) to December 31, 2025, and there is no limit on the number of times the debt repayment period is restructured. The final repayment date of the restructured debt balance is determined in accordance with the customer's difficulty level, but must not exceed December 31, 2027.
Credit institutions and foreign bank branches shall classify debts and set up risk provisions for debts with restructured repayment terms according to the Prime Minister's Decision on classification of assets, risk provision levels and use of provisions to handle customer debts affected by storm No. 3.
The issuance of Circular 53 by the State Bank guiding the restructuring of debt repayment terms, along with the Prime Minister's decision to allow the retention of debt groups and the setting up of risk provisions for debts of customers facing difficulties due to the impact and damage of storm No. 3, will help reduce financial pressure; create conditions for customers to access new loans, have more capacity to restore production and business, and stabilize their lives after natural disasters.
According to statistics, storm No. 3 and rain and floods caused an estimated damage of over VND81,703 billion. The provinces with the most damage were Quang Ninh with VND24,876 billion, Hai Phong with VND12,249 billion, Lao Cai with VND6,834 billion, and Yen Bai with VND5,738 billion./.
According to VNA
Source: https://baothanhhoa.vn/khach-hang-bi-thiet-hai-do-bao-so-3-chinh-thuc-duoc-co-cau-lai-thoi-han-tra-no-233071.htm
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