The suspension period is from September 1 until the effective date of the new legal document regulating these issues.
The State Bank of Vietnam said that in the coming time, this agency will coordinate with relevant agencies and units to research and consider appropriate solutions to control risks, ensure the safety of credit institutions' operations, and support to remove difficulties for people and businesses.
Circular No. 10 was issued immediately after Prime Minister Pham Minh Chinh signed Document No. 756 dated August 23 urging reporting on the implementation results of the Government leaders' directives.
The Prime Minister requested the State Bank of Vietnam to urgently review and amend Circular No. 06 to suspend the implementation of regulations causing difficulties, to be completed by August 25, to create favorable conditions for businesses and people to access credit capital.
Previously, on June 28, the State Bank issued Circular No. 06, effective from September 1.
Circular 06 supplements regulations on lending in line with the digital transformation process in banking operations and other regulations to remove obstacles and create more favorable conditions for customers to access bank loans.
At the same time, the Circular supplements a number of regulations to control risks arising in lending activities, contributing to ensuring the operational safety of the credit institution system.
Clause 2, Article 1 of Circular 06/2023/TT-NHNN: 2. Amend and supplement Article 8 as follows: “Article 8. Capital needs that are not eligible for loans Credit institutions are not allowed to lend for the following capital needs: 1. To carry out business investment activities in industries and professions prohibited from investment and business according to the provisions of the Investment Law. 2. To pay expenses and meet financial needs of business investment activities in industries and professions prohibited from business investment according to the provisions of the Investment Law and other transactions and acts prohibited by law. 3. To purchase and use goods and services in industries and professions prohibited from investment and business according to the provisions of the Investment Law. 4. To buy gold bars. 5. To repay the credit loan at the lending credit institution itself, except for the case of lending to pay interest on loans arising during the construction process, in which the interest expense is calculated in the total construction investment approved by the competent authority according to the provisions of law. 6. To repay foreign loans (excluding foreign loans in the form of deferred payment for goods purchase), credit granted at other credit institutions, except for loans to repay debts before maturity of loans that fully meet the following conditions: a) The loan term shall not exceed the remaining loan term of the old loan; b) Is a loan that has not yet restructured its repayment term. 7. To deposit money. 8. To pay for capital contributions, purchase, and receive transfers of capital contributions of limited liability companies and partnerships; to contribute capital, purchase, and receive transfers of shares of joint stock companies that are not listed on the stock market or have not registered for trading on the Upcom trading system. 9. To pay for capital contributions under capital contribution contracts, investment cooperation contracts or business cooperation contracts to implement investment projects that do not meet the conditions for putting into business according to the provisions of law at the time the credit institution decides to lend. 10. For financial compensation, unless the loan fully meets the following conditions: a) The customer has advanced his/her own capital to pay for the costs of implementing a business project, and the costs of implementing this business project have arisen within 12 months from the time the credit institution decides to lend; b) Expenses paid and disbursed with the customer's own capital to implement the business project are expenses using the credit institution's loan capital according to the capital use plan submitted to the credit institution for consideration of medium and long-term loans to implement that business project.". |
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