Circular 43/2014/tt-Nhnn: Provisions For Loans In Foreign Currency By Credit Institutions, Branches Of Foreign Banks For Borrowers Is Resident

Original Language Title: Thông tư 43/2014/TT-NHNN: Quy định cho vay bằng ngoại tệ của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài đối với khách hàng vay là người cư trú

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STATE BANK
Number: 43 /2014/TT-NHNN
THE SOCIALIST REPUBLIC OF VIETNAM.
Independence-Freedom-Happiness
Hanoi, December 25, 2014

PRIVATE HIP

Credit card loan regulation,

the foreign bank branch to the borrower is the resident.

_____________________

Vietnam State Bank Law School No. 46 /2010/QH12 June 16, 2010;

The Code of Credit: 47 /2010/QH12 June 16, 2010;

The foreign exchange commander. 28 /2005/PL-UBTVQH11 December 13, 2005 and the French command amended, adding some of the French Foreign Exchange Ordinal order. 06 /2013/PL-UBTVQH13 March 18, 2013;

Base of Protocol 70 /2014/ND-CP July 17, 2014 The government rules out certain provisions of the French Foreign and Foreign Exchange Ordinal ordinance, adding some of the provisions of the foreign exchange ordinance;

Base of Protocol 156 /2013/NĐ-CP November 11, 2013 the Government regulates the functions, duties, powers, and organizational structure of the State Bank of Vietnam;

On the recommendation of the Secretary of the Monetary Policy;

The Governor of the State Bank of Vietnam issued a foreign currency lending regulation of the credit organization, the foreign bank branch of the borrower's foreign bank client.

What? 1. The adjustment range

It provides a foreign currency loan from the credit organization, the foreign bank branch of the borrower, for the borrower.

What? 2. Subject applies

1. Credit organizations, foreign bank branches are allowed to operate foreign exchange and make foreign currency loans to customers.

2. Customers are capital borrowers at the credit organization, the foreign bank branch in accordance with the rule of law on loan activity.

What? 3. Foreign capital loan needs

1. The credit organization, the foreign bank branch, is considered to decide on foreign currency lending to the capital needs as follows:

a) Short, medium, and long-term lending to payments abroad to the import of goods, services when borrowers have sufficient foreign currency from the revenues of production, business to repay the loan debt;

b) Short-term lending to the investment business of gasoline imports was introduced by the Ministry of Commerce in 2015 to pay out foreign currency imports of gasoline when the borrower did not have or did not have enough foreign resources from operations. manufacturing, business to pay off loans. The regulation at this point was made until the end of December 31, 2015;

c) Short-term lending to meet the domestic capital needs to implement the production method, the commodity business exports through the Vietnam border store that the borrower has had enough foreign currency from export revenues to pay off the loan; when held credit, the foreign bank branch outside the bank of the loan, the borrower must sell that loan to the credit organization, the foreign bank branch of the loan, in the form of spot exchange, except for the need for a customer's capital. to make the payment transaction that the law regulates to deal with foreign currency. The regulation at this point was made until the end of December 31, 2015;

d) Lends to invest directly abroad for projects, national important works are decided by the National Assembly, Government or Prime Minister to invest in investment and have been certified foreign investment by the Ministry of Planning and Investment.

2. The credit organization, the foreign bank branch considering the decision to lend a foreign currency to the external capital needs in paragraph 1 This is in a priority sector, encouraging development of manufacturing, business under regulation at the United States Congress. decision, Decree, Decision, Directs, and other documents of the Government, the Prime Minister after being approved by the State Bank of Vietnam in accordance with the order, the procedure stipulated at Article 4 of this message for each particular case.

What? 4. Presentation, procedure of approval for foreign capital loans

1. When there is a need for foreign currency lending rules at paragraph 2 Article 3 This Smart, credit organization, foreign bank branch which has the written statement of the State Bank of Vietnam approx the loan with foreign currency, including the principal content:

a) The credit organization, the foreign bank branch of the committed state bank, and ensuring that the project, the viable use of capital, the borrower meets all of the borrowing conditions under the law of lending practices, potentially revoking the right debt. (stem and interest);

b) The credit organization, the foreign bank branch, which specifically reports the content that the credit organization, the foreign bank branch has already defined and approved the loan to the customer: The need to borrow capital by the customer's foreign currency to implement the project, Fang said. Manufacturing, manufacturing in the priority sector, promotion of manufacturing development, business pursuits to resolutions, Decree, Decision, Direcing and Other Government documents, Prime Minister; the level of capital that organizes credit, branch, and business. Foreign banks approve the loan; the situation of manufacturing, business, financial situation and the debt payout of the customer and its customers. other content to ensure the project, the viable use of capital, the borrower meets all of the regulatory conditions under the rule of law;

c) The credit organization, the foreign bank branch, which reports specifically on foreign capital funds to implement the loan, simultaneously committing and ensuring the balance of foreign capital is consistent with the deadline and the loan level; the lending guarantees compliance. under the right rules of the existing law on lending practices, foreign exchange management, credit-level limits, safety guarantees in bank activity of the credit organization and other provisions of the relevant law;

d) The credit organization, the foreign bank branch pledged to be responsible for the appraisal results, the decision to lend a foreign currency to the customers and the contents, the information provided at the offer text.

2. The procedure, the procedure for loan approval by foreign currency:

a) Credit organization, foreign bank branch sent directly or by text mail route offers approval of a foreign currency loan to the State Bank of Vietnam (Monetary Policy Affair);

b) The regulatory base at the Resolve, Decree, Decision, Directive, and other documents of the Government, the Prime Minister on the priority areas, which encourages development of manufacturing, business, foreign exchange market, target executive, and more. Money books, regulations at this level, and the proposed text content of the credit organization, the foreign bank branch, the State Bank of Vietnam considering the approval of a loan to the foreign currency of the credit organization, the foreign bank branch;

c) During a maximum of 30 days (thirty) working since the date of receiving a document offering approval of a credit card loan, the foreign bank branch is full of information under the provisions of this Article 4 Article 4, the Bank of China. The state of Vietnam sent a notice of approval or refused to approve the credit organization, the foreign bank branch of foreign bank loans, which explicitly stated the reason for rejection.

What? 5. Pay the debt

1. For the specified foreign currency loan at the point a, point c, point d 1 and paragraph 2 Article 3 This is that the borrower has enough foreign income to pay off the loan: Client loan with foreign currency must pay off the original debt and interest in foreign currency. Which, in the case of other foreign currency repayment, does an agreement between the credit organization, the foreign bank branch, and the customer in accordance with the regulation of the relevant law.

When it comes to foreign currency loan repayment, as the objective cause leads to foreign currency from manufacturing operations, the business of the borrower slows down payment, the borrower has not yet had enough foreign currency from business production or revenue source. Other legal foreign currency to pay off loans and credit organizations, foreign bank branches appraisal, credit confirmation, foreign bank branches guarantee balance of legal foreign capital funds to sell to customers. To pay off loans and borrowers pledged to receive a foreign currency from manufacturing operations, the business would sell that number of foreign currency to the credit organization, the company ' s spending cost. The foreign bank.

2. For the specified foreign currency loan at the point b 1 and paragraph 2 Article 3 This is that the borrower does not have or not enough of the legal foreign source to pay the loan: Credit Organization, foreign bank branch guarantee the balance of the source. capital by legal foreign currency to sell to the customer to pay off the original debt and interest of the loan.

What? 6. The responsibility of the credit organization, the foreign bank branch

1. The credit organization, the foreign bank branch foreign currency lender by regulation at this Smart, regulation on loan, foreign exchange management, safety assurance rates in the operation of credit organization, foreign bank branch, and other regulatory regulations. of the relevant law. In the case of a different regulation between this and other documents of the State Bank of Vietnam on foreign currency lending, the applicable provisions are applicable.

2. When making a foreign currency loan, credit organization, foreign bank branch ensures that the balance of foreign capital is consistent with the deadline and the level of capital to lend.

3. The credit organization, the foreign bank branch that ensures the balance of legal foreign capital funds to sell to the customer to pay off its original debt and interest in loans in the case of a loan client does not have or not enough legal revenue to pay off loans. according to this Article 5 of this message.

4. Monthly, slowest on December 12 adjacent to the month of reporting, credit organization, foreign bank branch reporting the State Bank of Vietnam on foreign currency lending under the order 01 and chart 02 issued this message.

What? 7. The organization performs

1. This message has been in effect since 1 January 2015.

2. Repeal Digital 29 /2013/TT-NHNN December 6, 2013, the Governor of the State Bank of Vietnam rules out the foreign currency of the credit organization, the foreign bank branch of the borrower, for the borrower.

3. For loans that apply the individual loan methods each time, the loan under the investment project, for capital lending under the credit contract signed prior to this date of this Smart Day comes into effect enforcement, credit organization, foreign bank branch, and customer service. The borrower execs the contents of the signed credit contract that is consistent with the regulation of the law effective at the time of the signing of that credit contract or the revised agreement, the addition of credit contracts in accordance with the regulation at this Smart. For loans that apply for loan-to-credit, circulate credit (rotation) under a credit contract signed prior to this date of the Fourth Date has the performance of the competition since 1 January 2015, the credit organization. The foreign bank branch and the borrower are in accordance with the provisions of this Smart.

4. Chief of Staff, Monetary Policy Affairs and Head of Units of the State Bank of Vietnam, Director of the State Bank of Vietnam Branch of the provinces, the Central City of China; Chairman of the Board, Chairman of the Council of the City of Vietnam. And the Director General (Director) of credit organizations, the foreign bank branch is responsible for the organization.

KT. GOVERNOR.
Vice Governor.

(signed)

Nguyen Thi Hong