Circular 19/2013/tt-Nhnn: Rules On The Purchase, Sale And Disposal Of Bad Debt Asset Management Company Of The Credit Institutions In Vietnam

Original Language Title: Thông tư 19/2013/TT-NHNN: Quy định về việc mua, bán và xử lý nợ xấu của công ty quản lý tài sản của các tổ chức tín dụng Việt Nam

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The CIRCULAR regulates the purchase, sale and disposal of bad debt asset management company of the credit institutions in Vietnam _ _ _ _ _ _ _ _ _ _ _ _ _ pursuant to the law the State Bank of Vietnam the number 46/2010/QH12 16 June 2010;
Pursuant to the law on credit institutions the number 47/2010/QH12 16 June 2010;
Pursuant to the law of business 60/2005/QH11 on November 29, 2005;
Pursuant to Decree No. 96/2008/ND-CP on August 26, 2008 Government's functions, tasks, powers and structure of the State Bank of Vietnam;
Pursuant to Decree No. 53/2013/ND-CP on May 18, 2013 of the Government regulations on the establishment, organization and operation of the asset management company of the credit institutions in Vietnam;
According to the recommendation of the Chief Inspector, the banking supervision;
The Governor of the State Bank of Vietnam issued a circular regulating the purchase, sale and disposal of bad debt asset management company of the credit institutions in Vietnam.
Chapter I GENERAL PROVISIONS article 1. Scope this circular regulates the purchase, sale and disposal of bad debt asset management company of the credit institutions in Vietnam (hereinafter called property management company); release, management and payment of special bonds.
Article 2. Application object 1. Property management company.
2. Vietnam's credit institutions (hereafter referred to as credit institutions).
3. The borrower.
4. a secured party.
5. organizations and individuals related to the purchase, sale and disposal of bad debt asset management company; release, management and payment of special bonds.
Article 3. Explanation of terms In this circular, the following terms are understood as follows: 1. a credit institution selling the debt is credit institution selling bad debt for property management companies.
2. debt restructuring is making repayment term adjustment; the extension of debt; long, steady interest rates, fees and penalties interest overdue payment; adjust the interest rate of bad debts.
3. Adjust the repayment term is the approved change to the original repayment term, interest rate during repayment duration ranges agreed earlier in the credit contract, fiduciary contract, contract to buy corporate bonds, for which the time limit for the final repayment does not change.
4. Extension of debt is the approved extended by a period of time the original repayment, interest rate exceeds the agreed repayment period earlier in the credit contract, fiduciary contract, contract to buy corporate bonds.
5. Credit institutions are authorized credit organizations is selling the debt is property management companies authorized to do one or some of the activities of asset management companies.
6. The value of the original balance logging of bad debts at credit institutions is the original balance of the bad debts are internal accounting table on the balance sheet of credit institutions; The value of the original balance logging of bad debt in the asset management company is the purchase price or the original balance of the bad debts are internal accounting table on the balance sheet of the company asset management.
7. Debt is the outstanding balance of the contract or agreement granting credit, trust contract, contract to buy corporate bonds of credit institutions.
8. The bonds especially valuable papers have limited time due to the asset management company released to buy bad debt of the credit organization.
9. the special bond issue date is the date the bond effect and the time base to determine the original bond payment date.
Article 4. Issuing, publicizing the management policy, internal rules about buying, selling, dealing with bad debt 1. Asset management companies are enacting and implementing management policies, internal regulations: a) the activity is allowed to follow the provisions in clause 1 article 12 of Decree 53/2013/ND-CP on May 18, 2013 of the Government regulations on the establishment, organization and operation of the asset management company of the credit institutions in Vietnam (hereinafter known as Decree No. 53/2013/ND-CP);
b) released, management and payment of special bond;
c) publicity, transparency about buying, selling and disposing bad debt;
d) restructure bad debt, financial assistance for borrowers.
2. within 10 working days from the day of promulgation or modification, addition, removal, replacement of the management policy, internal rules stipulated in paragraph 1 of this article, the right property management company announced on electronic information page of the property management company and delivered directly or by post to the State Bank (inspection bodies , bank supervision) to inspection monitoring.
Chapter II PURCHASE, SALE of BAD DEBT AMONG PROPERTY MANAGEMENT COMPANIES and CREDIT INSTITUTIONS section 1 GENERAL PROVISIONS article 5. The authority to buy bad debt sale, the authority to decide whether to buy, sell the debt; the authority concluded, made the purchase contract, debt sale of asset management company, credit institution made under the provisions of the law, the statutes and the internal regulations of the asset management company, credit institution.
Article 6. The currency of transaction 1. The currency used in the buy, sell the debt between the property management company and Vietnam's credit institutions (hereafter abbreviated as USD).
2. in case of property management companies use special bonds to buy bad debts in foreign currency of the credit organization, rates of USD with Exchange apply to converted the USD as follows: a) for bad debts in us dollars (hereafter abbreviated as USD) is the average interbank rate by the State Bank announced that apply at the time of signing the contract of purchase, sale of debt;
b) for bad debts in foreign currency is not USD is tax rates applicable to the import and export of foreign currencies that do State Bank announced that apply at the time of signing the contract of purchase, debt sale.
3. in case of property management companies use special bonds to buy bad debts in gold of credit institutions shall apply the conversion price is the price of gold bought by the limited liability company, a member of the gold and silver in Saigon at the time of signing the contract of purchase , debt sale.
Article 7. The transfer of the rights and benefits related to bad debt 1. In buy, sell the debt among property management companies and credit institutions, the whole of the rights and benefits attached to bad debt, asset guarantees and other warranties remedies for bad debts are the seller retains the status and debt transferred to the buyer the contract debt buying , debt sale.
2. in case of property management companies and credit institutions have the agreement on the conditions of guarantee for bad debts must be approved in writing by the borrower and the secured party.
Article 8. Principles of buying bad debt, sold 1. Publicity and transparency.
2. Subject to the provisions of the law and the contract of purchase, debt sale.
3. Limit the risk and cost of purchase, sale of bad debt.
4. Buying, selling bad debt is done for each bad debts or by borrowers in cases where borrowers have more bad debts in a credit organization or for each group of borrowers in the case of a secured property for bad debts of many borrowers in a credit institution or in other forms by the parties to the agreement match with the provisions of the law.
Article 9. The level of credit for borrowers have bad debt sold to the property management company borrowers have bad debt sold to property management companies and have the production, trading, investment projects can effectively be credit institutions, branches of foreign banks consider credit level, according to the agreement and the provisions of the law.
Section 2 SPECIAL BONDS ISSUED by the ASSET MANAGEMENT COMPANY, article 10. The subject, purpose and principles of the special bonds 1. The subject of special bonds as asset management company. Property management companies authorised for the transaction State Bank held special bonds issued under the provisions of this circular.
2. asset management company issued special bonds to buy the bad debt of the credit organization.
3. The issuance of the bonds is made individually, basing the actual needs and the special bond release has been approved by the State Bank.
4. A special bond was issued to correspond with a bad debt is purchased, sold. Case of bad debts are purchased, the sale is credit payment of capital asset management company, released a special bond for each respective credit institutions participated in syndicated capital.
Article 11. Conditions and terms of the special bond of 1. A special bond face value) the face value of the bond is especially valued by purchase price of bad debt as defined in clause 1 article 14 of Decree 53/2013/ND-CP and according to the provisions in article 10 paragraph 4 of this circular.
b) case of bad debts are purchased, the sale is syndicated capital account, the denomination of special bonds issued for each of the participating credit institutions credit level which corresponds to the value of the original balance logging of bad debt after deducting the amount specific set aside reserve not used for bad debts that are being monitored in the Organization credit credit capital supply.
2. Special bonds are issued in USD.
3. The Special bonds form a) special bond was issued in the form of journal entry number or electronic data have identifiers;
b) special bond was issued in the form of certificate enrollment.
4. asset management company decided to form a special bond.
5. Special bond to custody in the State Bank as stipulated by the State Bank of valuable papers and depository was used in refinancing business with the Bank.
6. Credit institutions possessing special bonds are free of custody when the custody of special bonds in the State Bank.
Article 12. Option 1 special bonds. Plans to release a special bond is a collection of analysis, reviews, suggestions on the issuance of special bonds of property management companies.
2. Methodology the special bonds include the following: a) the expected volume, value, subject to bad debt buyer and debt seller credit organization;
b) projected needs, the roadmap released special bond;
c) suggestions on structuring term of special bond;
d) capacity assessment of property management company about the purchase, management and handling of bad debt;
other content) at the request of the State Bank.

Article 13. The recommended procedure to approve plans to release special bond 1. The asset management company set up 01 the suggested profile approved plans to release special bond sent directly or by post to the State Bank (banking supervision, inspection). The records include: a) the suggested text approved plans to release special bond due to the legal representative of the property management company;
b) resolutions of the Board of Directors of the asset management company approved special bonds accompanied the release variant of special bonds as defined in article 12 of this circular.
2. Before 15 December of each year, the property management company to profile as specified in paragraph 1 of this article suggested the Central Bank approved the plan to release the special bonds of the following year except in cases specified in paragraph 3 of this article.
3. when making recommendations to approve plans to release a special bond in 2013 of property management companies by the Council members of the asset management company.
4. Within 15 working days from receipt of application recommended approved options issued special bonds as defined in paragraph 1 of this article, the State Bank review, writing to send property management company on the approve or disapprove plans special bonds. In case of disapproval, the text submitted to property management company stating the reason.
5. the release variant base special bond was approved by the State Bank, the capacity of the property management company and asked to handle the bad debt of the credit institution, asset management company decided to release the special bonds to buy the bad debt of credit institutions.
6. the operating target base monetary policy implementation requirements, restructuring of credit institutions, the objective of handling bad debt in each period, the State Bank to consider amendments, Supplement, replace, cancel plans to release the special bonds were approved when necessary.
Article 14. The elements of the special bond of 1. Special bond has the following minimum content: a) the name, address, number of the establishment, the business registration number of property management companies;
b) face value;
c) time limit;
d) release date;
DD) for information about purchasing contracts, debt sale, bad debts are bought by special bonds;
e) information on credit institutions possessing special bond: the name of the credit institution, the number of license or business registration license, address of credit institutions.
g) cases of special bonds to be issued in the form of a certificate, must have the symbol, number, signature of the legal representative of the property management company and the other by the signature property management company regulations and is stamped by property management companies.
2. In addition to the contents specified in paragraph 1 of this article, the property management company is regulated more content on the special bond is not contrary to the provisions of the law.
Article 15. Responsible management, use the special bond of 1. The responsibilities of a property management company) holds the management system, follow the special bonds were released;
b) make the rights and obligations related to special bond;
c) receiving and payment of special bonds under the provisions of the law;
d) State Bank reports on the release, the payment of special bonds.
2. The liability of the credit institution to own a special bond) make the rights and obligations related to special bond;
b) transfer, payment of special bond with property management company in accordance with the law;
c) identify risk coefficient of the special bond of 20% when calculating the minimum capital safety ratio of credit institutions;
d) is only used for special bonds to refinance loans at State banks, to buy back bad debt sold to asset management company according to the provisions of this circular.
Section 3 PROPERTY MANAGEMENT COMPANIES BUY BAD DEBT by SPECIAL BONDS article 16. Conditions of the bad debts are property management companies purchased by special bonds 1. Bad debts are property management companies purchased by special bonds when it meets the following conditions: a) the scope of the bad debt is purchased: (i) The bad debts in the credit level, activities include bad debts, loan discount, financial leasing , factoring and other bad debts as stipulated by the State Bank;
(ii) Account to buy corporate bonds not listed on the stock market or have yet to sign deals on the market of the unlisted public company (hereafter referred to as corporate bonds have not yet listed) by the credit institution sells the debt purchase has expired payment of part or all of the original debt interest rate, from 90 days or more; or has not expired or overdue under 90 days but have bonds business bad debt at credit institutions;
(iii) Trust Account to buy corporate bonds has not listed the trust level, credit where credit institutions take risks debt sale has expired payment of part or all of the original debt, interest rate from 90 days or more; or has not expired or overdue under 90 days but the enterprise bonds, trust beneficiary, the trust's beneficiaries have bad debt at credit institutions.
b) bad debts have secured property;
c) bad debt secured by assets, bad debts are legitimate and have valid papers, records, specifically: (i) the credit contract, fiduciary contract, contract to buy corporate bonds, secured contracts to clear the rights of creditors of the credit institution, the responsibility and the obligation to pay the debt of the borrower , the secured party, the party is obliged to pay the debt for credit institutions;
(ii) bad debts have not used to secure the obligations of credit institutions; the secured property of bad debt there is no dispute at the time of purchase, the sale of the debt.
d) borrowers still exist;
DD) the value of the original balance logging of bad debts or bad debts of a borrower or bad debts of a group of borrowers under the provisions of article 8 paragraph 4 this circular time, not lower debt sold 3 billion for borrowers and groups of borrowers is held; not lower than 1 billion for borrowers as personal or other levels due to State Bank Governor decided.
2. Pursuant to the conditions specified in paragraph 1 of this article, the Court released the special bond that was approved by the State Bank, the capacity of the property management companies, the market situation, the property management company decided to object and the specific bad debt management companies to buy property in each period.
3. State Bank review, the Prime Minister decided the asset management company to buy the bad debt of the credit institution does not meet the conditions specified in paragraph 1 of this article as suggested by property management companies to ensure safe operation of the credit institution and the fast processing of bad debt.
Article 17. Records suggest buying bad debt by special bonds 1. Organize your credit bad debts that meet the conditions specified in paragraph 1 article 16 of this circular and made records suggest buying the debt sent the property management company. The records include: a) the paper recommended buying the debt according to the model of property management companies;
b) list, information about the bad debt according to the requirements of the asset management company; assessment of the status of each of the bad debts, borrowers that credit institutions proposed to sell the asset management company (the time has expired, the financial status and activities of borrowers, the secured party, secured property, the ability to recall which); proposed duration of the special bond that corresponds to each bad debts;
c) written commitment about bad debts have not used to secure the obligations of credit institutions to sell debt, secured property of bad debt there is no dispute at the time of purchase, the sale of the debt;
d) a copy of the credit contract, fiduciary contract, contract to buy corporate bonds, secured by property contracts persons representative of the credit institution sells the debt confirming;
DD) copy records, papers relating to bad debts, secured property and borrower, secured party, the party is obliged to pay the debt due to the legal representative of the credit institution sells the debt confirming as requested by the property management company.
2. The records specified at points a, b, c paragraph 1 of this article must be signed by the legal representative of the credit institution debt sale. The records prescribed in points d, e clause 1 this must be signed by the legal representative of the parties and be notarized, certified, registered under the provisions of the law (if any).
3. where the asset management company does not authorize credit institutions to sell debt made some activities as defined in paragraph 2 article 12 of Decree 53/2013/ND-CP, the credit institution sells the debt to hand over the originals of records specified at points d, e clause 1 this property management company.
4. Credit institution debt sale is responsible for the adequacy, accuracy, integrity of records, documents, documents related to secured property, borrower, secured party, the party is obliged to pay the debt and bad debt sold to asset management companies.
Article 18. Order and procedure of buying bad debt by special bonds 1. Within 5 working days of receipt of the record suggest buying the debt of the credit institution, asset management company to inspect records and to request credit institutions to sell additional debt records when necessary.
2. within 10 working days of receipt of a valid application in accordance with article 17 of this circular, the property management company to review, assess the adequacy of the profile, and there the text reply credit institutions about buying or not buying the bad debts. The case does not buy the debt, must answer text stating the reason.
3. within 5 business days of receiving written notice of the debt agreed to buy asset management company, credit institution and asset management company signed a contract to buy, sell the debt.

4. within 10 working days from the date of signing the contract of purchase, selling debt, credit debt sales organization must notify the borrower, the parties have the obligation to pay the debt, the secured party for the content to sell the debt to know and fulfill the obligation with the property management company.
5. After the signing of the purchase contract, debt sale, property management companies continue to test, to gather information and assess borrowers, bad debts, the accuracy, the integrity of the records and documents relating to bad debts, secured property.
Article 19. The right to unilaterally terminate the contract done buying, selling a company's debt asset management 1. Property management company has the right to unilaterally terminate the contract done buying, selling debt in the following cases: a) Has evidence of bad debts have purchased does not meet fully the conditions specified in paragraph 1 article 16 of this circular, except in the case prescribed in clause 3 article 16 of this circular;
b) credit institution debt sale violated the provisions in clause 2 article 21, the points a, b paragraph 3 and paragraph 4 Article 31 of Decree 53/2013/NĐ-CP dated. 2. The unilateral termination of the contract of purchase, implementation of debt sales property management companies follow the following sequence: a) the asset management company has submitted text credit institutions to sell debt, which stated the reason for unilaterally terminated the contract execution;
b) within 5 working days from the date of receipt of the asset management company, credit institution debt sale to pay debt refinance loan for the State Bank and the State Bank (the Exchange) stop the blockade of special bonds as prescribed. Credit institution debt sale to pay back the special bonds for property management companies and get back to bad debts.
c) after getting back to bad debts from property management company, credit institution debt sale done accounting, classification of bad debts into debt group has no lower than the level of risk group debt that credit institution debt sale were classified at the time of the bad debt was sold to asset management companies.
3. the amount of the recovery of the debt incurred during the period from the time of the asset management company to buy bad debts to property management companies pay back bad debts for credit institution debt sale is processed according to the provisions in clause 2 Article 43 of this circular.
Article 20. The contract of purchase, debt sale by special bonds 1. The contract of purchase, debt sale is made in writing by the property management company, credit institution, and the parties involved (if any). The contract of purchase, sell the debt at a minimum include the following: a) the name, address of the buyer, the seller of the debt;
b) the name, address of the borrower, the secured party and the parties involved (if any) to the bad debts are purchased, the sale;
c) logging value the original balance of the bad debt is purchased;
d) purchase price, sell debt and payment methods;
DD) forms of guarantee, guaranteed asset value of bad debts due to valuation of credit institutions or organization independent valuation functions determine the nearest point in time before the proposed purchase of the debt;
e) validity of the contract of purchase, sale of debt;
g) special bond payment, debt collection and money processing acquired bad debt sold to property management companies;
h) asset management company on behalf of credit institutions to sell debt using debt recovery amount of bad debts are bought by special bonds that credit institution debt sale is entitled to repayment of the loan refinancing on the basis of special bonds as defined in point b of paragraph 1 to article 43 and Article 44 paragraph 3 of this circular and the regulation of banking The State of refinancing loans on the basis of special bonds.
I) the rights and obligations of the parties, which include the right of property management company implemented restructuring bad debt and terminate the contract done buying, selling debt; obligations of the credit institution sells the debt to accept the property management company implemented restructuring bad debt and buy back bad debts when the special bond payment as prescribed in this circular; obligations of the credit institution sells the debt payment for property management companies in the amount specified in point a of paragraph 2 Article 43 of this circular and the other amounts prescribed by law.
k) method, the time of completion and transfer procedure, debt guarantees and asset records, documents relating to the bad debt, the secured property, borrower, secured party, the party is obliged to pay the debt.
2. in case of bad debts are purchased, the sale is credit payment of capital asset management company, working through credit institutions clue; the contract of purchase, debt sale must be signed by the property management company and all the participating credit institutions grant credit to capital or credit organization clues are credit institutions participate in syndicated capital authorized in writing the contract purchase , debt sale with property management companies.
Article 21. Sale of bad debt at the request of the State Bank 1. Credit institutions have the bad debt ratio from 3% in comparison with the total credit outstanding up to sell debt for property management companies. The case of credit institutions not sell debt for asset management company, State Bank review, apply the measures prescribed in clause 5 article 14 of Decree 53/2013/ND-CP on the basis of the inspection results, evaluation, audits, State Bank requires credit institutions to sell debt for property management companies to ensure that the debt ratio bad credit organization's safety level and apply measures dealt under the provisions of the law.
2. within 10 working days of receipt of the text of Governor State Bank requires credit institutions to sell debt for asset management company, credit institution submit property management company profile recommended buying the debt according to the provisions of article 18 of this circular.
3. Property management companies and credit institutions to sell debt made the order and procedure of purchase, debt sale as defined in article 18 of this circular.
Article 22. Coordination, the exchange of information related to bad debts are bought by special bonds 1. Property management company, in collaboration with credit organizations to sell debt, credit institutions authorized to build the database, information technology system for the management, handling of bad debt, payment of special bonds and buy back bad debts.
2. authorized credit organizations are responsible for coordinating the handling and report in writing to the property management company the following content: a) the measures implementing recovery of bad debts;
b) The case of borrower debt transfer proposal into equity, equity, investment, financing, change repayment terms; restructure the bad debts and proposed asset management company make the guarantee;
c) other contents according to the requirements of the asset management company.
Section 4 PROPERTY MANAGEMENT COMPANIES BUY BAD DEBT UNDER MARKET VALUE Article 23. Conditions of the bad debts are buying asset management companies by market value 1. Bad debts are buying asset management companies by market value when it meets the following conditions: a) bad debts that meet the conditions specified in paragraph 1 article 16 of this circular;
b) property management company reviews have the ability to recover the full amount of the purchase of the debt;
c) secured property of bad debt has the ability to play;
d) the borrower has the ability to recovery prospects of repayment or repayment approach feasible.
2. When buying bad debt according to market value, property management companies have to price or rent the organization with independent valuation function determines the value of bad debts.
Article 24. Debt purchase plan according to the market value of 1. Debt purchase plan according to the market value is a set of analysis, reviews, suggestions on buying, selling and processing of bad debts according to market principles.
2. Option to purchase debt under market value consists of a minimum of the following: a) the scope of the debts bad buy according to market value (classified by groups of borrowers, industries, sectors, types of secured property);
b) Of the expected bad debt balance buy, capital and financial conditions of the property management company to purchase the debt under market value;
c) analysis, assessment of the efficacy, risks and ability to payback debt purchases by market value;
d) measures the sale, handling debt and secured property.
Article 25. The recommended procedure to approve plans to buy debt according to the market value of 1. The asset management company set up 01 the suggested profile approved plans to buy debt under market value direct or send by post to the State Bank (banking supervision, inspection). The records include: a) text recommended to approve plans to buy debt under market value because of the legal representative of the property management company;
b) resolutions of the Board of Directors of the asset management company approved the purchase of the debt according to the market value of the debt purchase plan attached according to the market value as defined in article 24 of this circular.
2. Before 15 December of each year, the property management company to profile as specified in paragraph 1 of this article suggest the State Bank approved plans to buy debt according to the market value of the following year.
3. Within 15 working days of receipt of a valid application specified in clause 1 of this article, the State Bank review, writing to send property management company regarding the approval or disapproval of the debt purchase plan according to the market value of the asset management company. In case of disapproval, the text submitted to property management company stating the reason.
4. the specific conditions the base of property management companies, the market situation and asked to handle the bad debt in each period, the State Bank to consider amendments, Supplement, replace, cancel the debt purchase plan according to the market value has been approved when necessary.
Article 26. Make buying bad debt according to the market value of 1. The base plans to buy debt according to the value the market has been approved by the State Bank, financial capability, economic and market conditions, asset management companies and responsible decisions about buying bad debts according to market value after you have performed the following tasks : a) reviews the bad debts that meet the conditions specified in paragraph 1 to article 23 of this circular;
b) determines the market value of bad debts, including the secured property of bad debts;
c) reviews of economic efficiency, risk and financial ability to purchase bad debts;

d) analysis, assessment of the status and prospects of bad debt, customer loans, secured party, the party is obliged to pay the debt and the debt purchase agreement terms with the credit institution sells the debt;
DD) feasible measures expected to handle debt, secured property of bad debts.
2. Buying, selling debt under market value between the property management companies and credit institutions follow the Bank's rules on buying, selling the debt applicable to credit institutions.
Chapter III DEALT BAD DEBT and the PROPERTY SECURED by the PROPERTY MANAGEMENT COMPANY category 1 RESTRUCTURE DEBT and LOAN CUSTOMER SUPPORT article 27. The principle of debt restructuring for bad debts has bought 1. Property management companies to review, restructure the bad debts have bought at the suggestion of borrowers when it meets the conditions specified in this circular.
2. Property management companies in Exchange for credit institutions to sell debt before the decision to restructure the bad debts for the case prescribed in clause 4 Article 28, paragraph 2 Article 28 and article 30 item 2 of this circular.
3. The bad debt restructuring to ensure conformity with the provisions of Decree 53/2013/ND-CP and this circular; specific terms of the loan, the borrower, the property management company, credit institution debt sale; money market situation; bad debt disposal requirements in each period and the agreement of the credit contract, fiduciary contract, contract to buy corporate bonds, contract purchase, debt sale.
Article 28. Adjust the interest rate of bad debts has been the asset management company to buy 1. Property management companies reviewed, adjusted interest rates are applied for bad debts has bought about a reasonable interest rate, in line with the repayment ability of the borrower, the interest rate on the market in each period and the agreement at the level of credit contracts, escrow accept debt the trust contract, contract to buy corporate bonds, contract purchase, debt sale.
2. Constant, property management companies to publicize the reasonable interest rate prescribed in paragraph 1 of this article.
3. Property management companies to review, adjust the interest rate reduction as defined in paragraph 1 of this article when the bad debts and borrowers must meet the following conditions: a) borrowers partnered well with the property management company, authorised credit institutions;
b) borrowers have to repay the feasibility or financial restructuring schemes, viable activities;
c) borrowers actually temporary financial difficulty and the reduction of the interest rate of bad debts contributed to help borrowers reduce financial hardship, rehabilitation of production and business;
d) bad debts do not violate the provisions of article 126 of the law on credit institutions at the time of signing the credit contract.
4. In the cases reviewed, adjusted interest rates apply to bad debts are bought by special bonds as defined in paragraph 1 of this article, property management companies in Exchange for credit institutions to sell debt before deciding. Within 5 working days from the date of the asset management company have suggested text comments about the interest rate adjustments bad debts, credit debt sales organization must respond in writing to the property management company.
5. within 10 working days from the date the interest rate adjustment of bad debts, property management companies notify borrowers to know and perform, at the same time inform the credit institution of selling debt (for the bad debt is purchased by special bonds).
Article 29. Long, steady interest rates, fees and penalties, interest has expired payment 1. Property management company consider partial or full exemption from reduction of interest rates, fees, penalties, interest has expired payment that the borrower has not charged of bad debt was bought when bad debts and loan clients that meet the following conditions: a) meets the conditions set forth in paragraph 3 Article 28 of this circular;
b) borrower repay immediately or commit to repay within 60 days to a minimum of 5% of the original balance borrowers have not charged at the time of the review, the penalty, interest rate reductions, interest payment has expired.
2. In the case of free interest rate reduction, considering the penalty, interest and fees overdue payment arises after the time of signing the contract of purchase, selling bad debts are bought by special bonds, asset management companies in Exchange for credit institutions to sell debt before deciding. Within 5 working days from the date of the asset management company has proposed text of the opinion, the credit institution sells the debt to answer in writing on the problems of property management company suggested the comments.
3. within 5 working days from the date of the exemption, reduction of interest rates, fees, penalties, interest payment has expired, the property management company to notify borrowers know and make, at the same time inform the credit institution of selling debt (for the bad debt is purchased by special bonds).
Article 30. Measures to restructure the repayment duration 1. Property management company consider restructuring the repayment period under the form of adjusted term of repayment, debt renewals for bad debts had bought when borrowers meet the following conditions: a) the borrowers have to repay the feasibility;
b) for cases adjust the term of repayment of principal and/or interest, borrowers cannot afford to repay the original debt term correct and/or interest within the time limit agreed in the repayment of the credit contract, fiduciary contract, contract to buy corporate bonds and asset management company reviews is likely to repay in the next term According to after restructuring the repayment term;
c) for cases of debt, borrowers can't afford to pay off the debt principal and/or interest repayment deadlines agreed in the contract of credit, trust contract, contract to buy corporate bonds and asset management companies are rated as likely to pay off the debt within a certain period of time after the time limit of the repayment agreement;
d) against bad debts was purchased by special bonds, debt grace period for bad debts do not exceed term of rest of the corresponding special bond with bad debts.
2. In the case of review, restructure the repayment period of bad debt is purchased by special bonds, asset management companies in Exchange for credit institutions to sell debt before deciding. Within 5 working days from the date of the asset management company have suggested text, credit institution debt sale to answer in writing on the problems of property management company suggested the comments.
3. within 5 working days from the date of the repayment term of restructuring, asset management companies notify borrowers to know and perform, at the same time inform the credit institution of selling debt (for the bad debt is purchased by special bonds).
Article 31. Financial support measures for borrowers 1. Property management companies considering adopting one or a number of financial support measures for borrowers: a) guarantee to customers loans of credit organizations;
b) investment, the financing under loan forms, buy corporate bonds;
c) The forms of investment, financial provision after being Governor of the State Bank approval.
Property management companies using assets (not including bad debt bought by special bonds) and capital to make financial support measures as specified in points b, c paragraph 1 of this article.
2. Property management companies considering investing, finance when borrowers who meet the following conditions: a) the borrowers have the ability to recover well or have produced business, effective investment projects;
b) Have measures to ensure the recovery of suitable capital for investments, financing;
c) investment projects, provide financing to ensure the safe and feasible, in that analysis, risk assessment, economic efficiency of investments, financing, guarantee; sources of capital to deploy; the ability to recover the capital; capital recovery measures; measures to ensure the safety and handling of risk capital;
d) other conditions as specified by the property management company.
3. loan customers are asset management companies consider, loan guarantees of credit institutions when it meets the following conditions: a) the borrowers have the ability to recover well or have produced business, new investment projects are effective;
b) borrowers have legally guaranteed assets for the loan guarantee;
c) option guarantee for loan borrowers of credit institutions to ensure the safe and feasible, in that analysis, risk assessment, economic efficiency of investments, financing, guarantee; sources of capital to deploy; the ability to recover the capital; capital recovery measures; measures to ensure the safety and handling of risk capital;
d) other conditions as specified by the property management company.
4. Pursuant to the conditions specified in clause 2 3 of this article, and the sources of capital, the financial capacity of property management companies, property management company, the Governor of the State Bank review, approved before making investments, financing, guarantee for borrowers.
Article 32. The suggested procedure of approval of the financial assistance scheme for borrowers 1. The asset management company set up 01 the dossier suggested investment projects approved, financing, guarantee schemes for loan borrowers of credit institutions (hereinafter referred to as the financial assistance plan for borrowers) submitted directly or by post to the State Bank (inspection bodies bank supervision). The records include: a) the suggested text approved financial support schemes for the borrowers and the capital contribution, purchase shares of borrowers due to the legal representative of the property management company;
b) resolutions of the Board of Directors of the asset management company approved financial support for accompanying borrowers financial support schemes for the borrower as specified in point c of paragraph 2, point c paragraph 3 article 31 of this circular.

2. Within 15 working days from the date of the proposed profile approved financial support schemes for the borrower as specified in paragraph 1 of this article, the State Bank review, writing to send property management company regarding the approval or disapproval. In case of disapproval, the text submitted to property management company stating the reason.
Article 33. A limited number, control risks in the operation of property management companies 1. Total investment, financing and guarantee of property management company for a client does not exceed 50% of the Charter capital of the company asset management.
2. The total value of capital contributions, the equity at the point b Article 36 paragraph 1 of this circular do not exceed the capital stock of the company asset management.
3. The borrower is in the process of dissolution, bankruptcy, revoked the license of operation are property management companies reviewed, adjusted interest rates for borrowers, provided the interest rate reduction, the fine, fees and interest overdue payment, restructure the pay period, financial assistance for borrowers.
Category 2 PROCESSING of BAD DEBT and the SECURED PROPERTY Article 34. Property management company selling bad debt has bought 1. Property management companies make selling bad debts purchased from credit institutions to organizations and individuals, according to the market value of capital recovery.
2. asset management company sold bad debt according to the following rules: a) ensure publicity and transparency;
b) guarantee the agreements and voluntary;
c) Sell bad debts in the form of competitive bidding or auction with the participation of at least 3 people buy buyer is not associated with each other under the rule of law. The case could not sell bad debts in the form of competitive bidding, auction, the property management company to sell bad debts on the basis of direct agreements with the buyers of the debt;
d) sale price debt is reasonable price for on the basis of comparison with the prices of bad debts which the bid or the reference price of the bad debts of equivalent quality or value of bad debts due to the asset management company or organization can function independent valuation determined to reduce losses in bad debt disposal.
3. The sale of the debt must be established.
4. Property management company can authorize credit institutions to sell bad debts according to the requirements and conditions set by the property management company.
Article 35. Sell bad debt is purchased by special bonds 1. Property management company uniform with the credit institutions to sell debt on condition the sale of bad debt which includes starting price (in case the debt sale by auction method) and price (in the case of the sale of the debt according to deal directly with the buyer).
2. within 10 working days from the date of signing the contract to sell the debt, asset management companies must submit 1 a contract to sell the debt to the credit institution sells the debt and notify the credit institution sells the debt on credit institutions amount to sell debt was affected.
3. In the case of special bond payment due yet, property management company sold the bad debt has been bought by special bonds to credit institutions were selling bad debts for assets management company according to the principles of the agreement on the purchase price and conditions , debt sale.
Article 36. Contributed capital, equity of the borrower's business 1. Asset management companies are using the bad debts and assets were bought, the legal capital to make: a) transfer bad debt bought by special bonds into equity, capital of the borrower's business under the provisions of the law;
b) use of the property (not including bad debt bought by special bonds), the legal capital to contributed capital, equity of the borrower's business under the provisions of the law after it is approved by the State Bank.
2. Property management companies contributed capital, equity to participate in restructuring the loan clients.
3. Property management company to build capital contribution approach, equity of borrowers, including the analysis, assessment of efficiency of capital contribution, the equity, the financial situation and activities of client loans, capital contribution to capital, the ability to recover capital and proposes measures for the recovery of capital contributed and participated in restructuring the loan clients.
4. Property management companies contributed capital, equity of borrowers when the following conditions are met: a the capital contribution schemes), the equity of borrowers feasible; the case of contributed capital equity, as specified in point b of paragraph 1 of this article, the capital contribution approach, equity must be approved by State Bank;
b) asset management company has the right to participate in the process of restructuring the loan clients;
c) The contributed capital, equity capital contribution limits did not violate the Charter, equity asset management company as defined in paragraph 2 to article 33 of this circular;
d) the borrower has the financial recovery prospects and activities after the property management company contributed capital, equity;
DD) the borrower is not in the process of bankruptcy, dissolution or revocation of the activity licence.
5. in case of transfer bad debt is purchased by special bonds into equity, capital of the borrower, the property management company and the credit institution sells the debt implementation: a) before making, property management company uniform with the credit institution debt sale of bad debts are bought by special bonds into capital , equity of the borrower;
b) within 5 working days from the date of transfer of the whole of the bad debt into capital, the equity of the borrower, the property management company sold his stake, equity for credit institutions to sell debt as the value of capital contribution accounts, equity and bond payment;
6. the amount of the recovery of the debt incurred in the period from when the asset management company to buy bad debts to transfer bad debts which the Charter capital, equity be handled according to the provisions in clause 2 Article 43 of this circular.
Article 37. The suggested procedure approved plans to contribute capital, equity of the borrower's business 1. The asset management company set up 01 the suggested profile approved plans to contribute capital, equity of the borrower specified in point a of paragraph 4 Article 36 send directly or by post to the State Bank (banking supervision, inspection). The records include: a) the suggested text approved plans to contribute capital, equity of borrowers due to the legal representative of the property management company;
b) resolutions of the Board of Directors of the asset management company through capital contribution approach, equity of borrowers accompanied capital contribution approach, equity of the borrower as specified in paragraph 3 Article 36 of this circular.
2. Within 15 working days of receipt of a valid application as specified in paragraph 1 of this article, the State Bank review, writing to send property management company regarding the approval or disapproval of capital contribution approach, equity of borrowers. In case of disapproval, the text submitted to property management company stating the reason.
Article 38. Processing and sale of secured assets bad debts has bought 1. Property management companies in coordination with the authority, the relevant organizations to complete the procedure, the legal records of the secured property of the bad debts were bought.
2. Property management companies handle the secured property of the bad debt was purchased under the provisions of article 18 of Decree 53/2013/ND-CP and the other relevant regulations of the law.
3. With regard to the secured property of bad debt is purchased by special bonds, asset management company uniform with the credit institution sells the debt: a) the selling price of the secured property in case of a sale under agreement with the buyer or the price of the asset in case of sale by auction method;
b) value of the secured property in case the property management company received the secured property to replace for the implementation of the obligations of the secured party.
4. in case the property management company received the secured property to replace for the implementation of the obligations of the secured party, the property management company to rent or valuation organizations have independent valuation function to determine the market value of the secured property as a basis for repayment of the obligation to compensate borrowers , the parties have the obligation to pay the debt.
Section 3 PROPERTY MANAGEMENT COMPANY AUTHORISED and CHECKING, monitoring the IMPLEMENTATION of AUTHORISED ACTIVITIES Article 39. The content, method of authorization 1. Property management companies reviewed, authorized credit institution debt sale done one or several activities specified in clause 2 article 12 of Decree 53/2013/NĐ-CP dated. 2. The authorizations as specified in paragraph 1 of this article must be made in the contract authorization. Authorized contract includes the following minimum content: a) the name, address of the authorized party, authorized party;
b) the scope and contents of authorizations;
c) authorized period;
d) rights, obligations of the parties.
3. Property management company chooses authorized part or all of the activities specified in paragraph 1 of this article for the credit institution sells the debt consistent with the provisions of this circular and other related provisions of the law.
4. within 10 working days from the date of signing the contract authorization, credit institutions authorized to notify the borrower, the parties have the obligation to pay the debt, the secured party and the parties concerned about the contents, activities are property management companies to authorize credit institutions to sell debt to know and implement.
Article 40. Check, monitoring the implementation of authorised activities 1. Property management company building the database, the information technology system and content, reporting requirements, the exchange of information with the credit institutions authorized to supervise credit institutions authorized to perform the operation is authorized under the provisions of paragraph 1 to article 39 of this circular.
2. asset management company regularly, supervise credit institutions authorized in the implementation activities are property management companies authorised in the authorized contract.
Article 41. The rights and responsibilities of property management companies and credit institutions authorized to

1. The rights and responsibilities of asset management company: a) require authorised credit institutions report, to provide information and documents related to the authorized activity;
b) requires that credit institutions authorized to perform the operation is authorized by agreement in the contract authority and rule of law;
c) requires credit institutions authorized to repair, remedy, compensation of losses due to breach of contract authorization, the provisions of the law in the process of performing authorized operations; terminate the contract authorization, Sue off the Court for the authorised credit institutions violate the contract authorized under the provisions of the law;
d) timely reporting State Bank (banking supervision, inspection) in the case of detecting violations of the law of credit institutions is authorized;
DD) with respect to bad debts acquired by the market value, the asset management company to deal with authorized credit organizations about the cost of implementing authorization and content related to the cost of execution authorized in the authorization contract;
e) The other rights and responsibilities under a contract authorized and regulated by the law.
2. The rights and responsibilities of authorized credit institutions: a) reports, provide information, documentation, full, timely according to the requirements of the asset management company; responsible for the accuracy of the information, documents and reports provided for property management companies;
b) cooperate and take the test, supervision of property management company in the process of performing authorized operations;
c) make recommendations, requirements of property management companies to ensure the safety of property, fix the violations and compensation for loss of property management company due to breach of contract authorization, the provisions of the law in the process of performing authorized operations;
d) immediately notify property management company about the amount of debt collection;
DD) for bad debts are bought under market value, credit institutions authorized to be property management company paid the cost of implementing the activities authorized under the provisions of the authorization contract;
e) The rights and responsibilities as specified in the authorization contract, paragraph 4 Article 31 of Decree 53/2013/ND-CP and the other relevant regulations of the law.
Chapter IV HANDLING the AMOUNT of DEBT COLLECTION, payment and SPECIAL BOND BUY BACK BAD DEBTS Article 42. The order of priority of payment bad debts are bought by the special bond the entire monetary earnings, assets from the recovery, processing, sale of property, the secured debt after deducting the expenses relating to the sale of the debt, the secured property; maintenance, repair, upgrading of the secured property is property management company payments in the order of priority is as follows: 1. the original debit balance;
2. Interest in term of payment;
3. Interest on overdue payment;
4. the penalty interest rate (if any);
5. Return the borrower, secured party, the party is obliged to repay the excess amount (if any).
43 things. Handle the amount of bad debt debt collection was bought by special bonds 1. The amount of money the debt recovery account bad debt is purchased by special bonds that credit institutions are entitled to under the provisions of point b of this clause 2 are treated as follows: a) If a credit institution selling the debt refinancing loans not on the basis of special bonds, asset management company posted at the credit institution sells the debt in the form of deposits and not be withdrawn before the special bond payment except where the provisions of article 19 of this circular;
b) if the credit institution sells loan refinance debt on the basis of special bond, within 5 working days beginning next quarter property management companies use debt recovery amount by which the credit institutions are entitled to in you repay the loan refinancing on the basis of that special bond and deducted this amount in the total debt amount which credit institutions are entitled to payment when that special bond.
2. The amount of the debt recovery of bad debts are bought by special bonds are treated as follows: a) asset management companies are entitled to a percentage on the amount of debt collection as specified by the Bank after its unification with the Ministry of finance;
b) credit institution debt sale is entitled to the amount recovered the debt remaining after subtracting the amount that property management companies are entitled to the provisions of art. 2 of this Thing.
Article 44. Special bond payment 1. Special bond payment due in the following cases: a) the amount set aside risk prevention for special bonds not lower the value of the original balance logging of bad debts concerned are tracking on the books of the company to manage the property, which includes all of the following circumstances (i) asset management companies to sell bad debts for organizations and individuals, including the case of resale of bad debt bought by special bonds for credit institutions to sell debt under market value or price agreement;
(ii) the asset management company moved the entire bad debts has bought into the capital, the equity of the borrower's business.
b) special bond payment due.
2. within 10 working days from the date the special bond payment due as specified in paragraph 1 of this article, the credit institution must repay the full debt sale of refinancing the loan on the basis of special bonds respectively (if any), are the State Bank (the Exchange) stop the blockade of special bonds as a rule and in coordination with the management company property management make the payment of special bonds as follows: a) cases not yet recovered full logging value the original balance of the bad debt, the credit institution sells the debt buy back bad debts from property management company according to the value of the original balance logging are tracking on the books of the company asset management , capital account, the equity in the borrower for transfer a portion of bad debts into equity, capital of client loans (if any); return the special bond that bad debt related to property management companies and asset management companies are paying the money to enjoy on debt recovery amount specified in point b of paragraph 2 Article 43 of this circular (if any);
b) case has recovered the full value of the original balance logging of bad debts (including the entire bad debt cases were sold to organizations, individuals), the credit institution sells the debt buy back the account equity, equity for borrowers in the case of a partial transfer bad debts into capital , equity of the borrower (if available); return the special bonds for property management companies and asset management companies to be paid the amount of debt collection is entitled under the provisions of point b item 2 Article 43 of this circular;
c) where the entire bad debts be converted into capital, the equity of the borrower's business, the credit institution debt sale to pay back the special bonds for property management companies and buy back equity capital account, at the same time, borrowers pay for the asset management company of the money debt collection entitled as specified in point a paragraph 2 to article 43 of this circular.
3. within 5 working days from the date the special bond payment due as specified in paragraph 1 of this article to which the credit institution sells debt not repaid the full amount of the loan refinancing on the basis of that special bond to the State Bank, the asset management company does not pay the amount debt collection (if any) , bad debts (if longer) for credit institutions to sell debt; Property management companies use debt proceeds with money from bad debt is purchased by special bond which that credit institution debt sale is entitled under the provisions of point b item 2 Article 43 of this circular to repay the loan refinancing of credit institutions to sell debt at the Bank and get back the bonds especially when outstanding loan re funding on the basis of the special bond that has been paid in full for the State Bank.
Article 45. Buy back bad debts when the special bond payment 1. When to buy back bad debt as defined in point a of paragraph 2 of this circular 44, sale of debt credit organizations are responsible for full payment for the asset management company of the funds that the asset management company is entitled under the provisions of art. 2 of this circular and 43 property management company must provide for the credit institution sells debt information, material about original outstanding balance, interest, penalty interest rates, fees due but unpaid loans and customer information, other documents related to debts, borrowers, the secured party, the party is obliged to pay the debt.
2. the credit institution sells the debt buy back bad debts from property management companies do not need the consent of the borrower, the parties have the obligation to pay the debt and the secured party.
3. within 10 working days from the date of signing the contract of purchase, debt sale, the credit institution sells the debt buy back bad debts must notify the borrower, secured party, the party is obliged to pay the debt on the acquisition debt from the property management company to borrowers, the secured party , parties have an obligation to repay and service with credit institutions.
Chapter V EXTRACT and USE RISK PREVENTION Article 46. Cite established contingency risks for special bonds and use the reserve to handle risks relating to bad debt 1. During the term of the special bonds, credit institutions must extract the backup setting debt sales risk for the special bond on operational costs.
2. Annually, within a period of 5 working days prior to the date corresponding to the adjacent day special bonds, credit institutions must establish the amount quoted debt sale contingency-specific minimum for each special bond is calculated by the following formula: in which: units of time particularly in bonds.
3. the credit institution sells the debt does not have to make up for the general prevention extract special bond.
4. The amount of risk prevention institutions set aside debt sale for special bonds are used as follows:

a) offset part of the disparity in the amount of debt recovery compared with the denomination of special bonds in case the entire bad debts are sold to individual organizations (not including cases are defined in art. 2 Article 44 of this circular), the entire bad debts used to contribute capital , equity of the borrower;
b) handling risks with bad debt acquisition as defined in point a of paragraph 2 to article 44 of this circular in the event logging value the original balance of the bad debt not yet recovered fully.
5. Credit institution debt sale done done enter the amount of the contingency risks excerpt created for special bonds left after processing the risks as defined in paragraph 4 of this article, or to extract additional risk prevention setting in case the amount of money set aside risk prevention for special bond is not enough to handle the risks as defined in paragraph 4 This thing.
6. once treated with risk prevention, bad debt credit debt sale held foreign accounting Board, continue to monitor and take measures to recover the debt in accordance with the law and the agreement with the borrower.
7. The payment of the debt treated risks as defined in paragraph 6 of this Article out of the foreign Board made in accordance with the State Bank of classified assets, extract method, extract levels established risk prevention and the use of redundancy to handle risks in the operations of credit institutions foreign bank branches.
Article 47. Classify, extract and use backup to handle risks for bad debts are bought under market value 1. Property management company to perform sorting, extract and use risk prevention to handle for the amount paid to buy the bad debt provisions of State Bank of classified assets, extract method, extract levels established credit risk prevention and the use of redundancy to handle risks in credit operations for the Organization credit, foreign bank branch.
2. asset management company classifying the amount paid to buy the bad debts to the group that the risk level is not lower than that group debt that bad debts which were classified at the credit institution sells the debt at the time of purchase of bad debts.
Chapter VI LIABILITY of the Organization, INDIVIDUALS are RELATED to article 48. The responsibilities of the units belonging to State Bank 1. Inspection Agency, Bank monitoring: a) presiding, in cooperation with the relevant units in the building, the Governor of the State Bank of the Prime Minister's decision to buy the bad debt of credit institutions as defined in paragraph 3 article 16 of this circular;
b) presiding, in cooperation with the relevant units of the appraisal, the Governor of the State Bank of the decision to approve or disapprove plans special bonds, options to purchase bad debt according to market value, the financial support schemes for the borrowers and the capital contribution projects , equity loan customers of the following sequence: (i) within 2 working days of receipt of a valid application of property management companies suggest accepting the options released special bonds, options to purchase bad debt according to market value, the financial support schemes for the borrowers and the capital contribution projects , equity of borrowers, the Agency inspection, monitoring the Bank have written comments participants of the relevant units of the State Bank.
(ii) within 3 working days from the date of the proposed text of the inspection bodies, the banking supervision, which are opinions involved must join the written comments the agency sent inspectors to bank supervision, General, the Governor of the State Bank review approve or disapprove plans issued special bonds, options to purchase bad debt according to market value, financial aid options for borrowers of capital contribution projects, equity of borrowers.
c) presiding, in cooperation with the relevant units of the appraisal, the Governor of the State Bank decided the content specified in clause 4, 6 article 13; DD account point 1 and paragraph 3 article 16; the paragraph 3, 4 Article 25; item 2 Article 32; item 2 Article 37 of this circular;
d) monitoring, testing, inspection and handling of violations with regard to the credit institution, asset management company in the observance of the provisions of the law on buying, selling and disposing bad debt;
DD) hosted, in cooperation with the relevant units and asset management company, helps the Chief Governor of the State Bank building activity report of property management companies;
e) chaired, coordinated with the related Unit Chief, State Bank Governor helps guide the organization implementing this circular.
2. Transaction: a) Guide and organize special bonds issued under the authorization of the asset management company according to the provisions of this circular;
b) Guide and organize the deployment of special bonds depository of property management companies;
c) make special bonds blockade related to refinancing loans when credit institutions possessing special bond refinancing loans; stop the blockade of special bonds in the case of refinancing loans of credit institutions are repaid in full.
3. Financial-Accounting Services, in coordination with the Ombudsman Agency, bank supervision and the related construction unit and the Governor of the State Bank issued regulations on accounting business buy, sell, handle the bad debt and the services related to buying, selling handling bad debt of property management companies and credit institutions.
4. Service forecasting, monetary statistics, coordinated with the Department of information technology of the Bank and the relevant units in the building, the Governor of the State Bank issued a regulation on statistical reporting regime and the publicity and transparency of the activities of asset management companies; made to collect, aggregate, statistical data on purchase, sale and processing of bad debt.
5. The Bureau of information technology supports the banking units of banks, asset management companies and credit institutions to coordinate, Exchange, provide, information extraction, statistical data on buying, selling and processing of bad debt.
6. credit information center provides information regarding bad debts, borrowers as suggested by property management company for the purpose of handling bad debt.
7. State Bank branch in the city, monitoring, testing, inspection and violation processing for credit institutions, organizations and individuals in the area of the observance of the provisions of the law on buying, selling and processing of bad debt.
8. The relevant unit: a) in collaboration with the Agency inspectors, Chief banking supervision, State Bank Governor help the organization implement this circular;
b) in coordination with the Agency inspection, monitoring, evaluation, the Bank Governor State Bank decided the content specified in clause 4, 6 article 13; DD account point 1 and paragraph 3 article 16; the paragraph 3, 4 Article 25; item 2 Article 32; item 2 Article 37 of this circular;
c) in collaboration with the Agency inspectors, Chief banking supervision, State Bank Governor help build activity reports of property management companies;
d) Have the responsibility to create favorable conditions for the operation of the asset management company according to the functions, tasks and direction of the Governor of the State Bank.
Article 49. The responsibility of the asset management company 1. Make the purchase, sale and processing of bad debts in a timely and proper rule of law; Guide to credit institutions established, send a list of bad debts eligible to sell asset management company according to the provisions in clause 1 article 16 of this circular.
2. State Bank report about buying, selling and processing, recovery of the bad debt was purchased; release, use and payment of special bonds and other activities prescribed by the State Bank.
3. Use the amount of debt collection by money from bad debts that credit institution debt sale is entitled to repayment of the loan refinancing on the basis of special bonds credit institution selling the debt at the Bank.
4. Recommend to the State Bank Governor decided the content specified in clause 4, 6 article 13; DD account point 1 and paragraph 3 article 16; the paragraph 3, 4 Article 25; item 2 Article 32; item 2 Article 37 of this circular.
5. the Chairman, in collaboration with credit organizations and the related implementation measures to handle debt, secured property of the bad debts are bought by special bonds to repay debt refinancing loans to state banks.
6. Perform the responsibilities prescribed in this circular and other responsibilities as prescribed by law.
Article 50. The responsibility of credit institutions 1. Implementation reviews, identify bad debts eligible to actively sell the asset management company and responsible for the results of his review.
2. State Bank report on the purchase, sale and processing of bad debts as stipulated by the State Bank.
3. the credit institution sells the debt made the responsibility prescribed in paragraph 3 article 31 of Decree 53/2013 issued. 4. Credit institution debt sale and receive the special bond has the responsibility: a) to fulfill the obligations set forth in paragraph 2 article 21 of Decree 53/2013/ND-CP;
b) using specific set aside reserve for bad debts to handle the disparity between the value of the original balance logging and bad debts which the selling price when selling bad debt for property management companies;
c) payment for property management companies in the amount specified in point a of paragraph 2 Article 43 of this circular and the other amounts prescribed by law;
d) taken the responsibility prescribed in clause 4 Article 31 of Decree 53/2013/ND-CP. 5. Works closely with the property management company in the purchase, sale and processing of bad debt; provide full, accurate information, timely as suggested by property management companies.
6. Perform the responsibilities prescribed in this circular and other responsibilities as prescribed by law.
Article 51. The responsibility of the borrower, the party had obligation to repay 1. Perform the responsibilities specified in article 32 of Decree 53/2013/NĐ-CP dated. 2. Perform the responsibilities prescribed in this circular and other responsibilities as prescribed by law.
Article 52. The responsibility of the secured party

1. Perform the responsibilities prescribed in article 33 of Decree 53/2013/NĐ-CP dated. 2. Perform the responsibilities prescribed in this circular and other responsibilities as prescribed by law.
Chapter VII IMPLEMENTATION Article 53. Effective enforcement of this circular is effective from September 15, 2013.
Article 54. Organizing Office, Chief Inspector, bank supervision, heads of units of the State Bank, Director of the State Bank branch in the province, city, Chairman of the Board, the Chairman of the Board members and the ceo (Director) of Vietnam's credit institutions; Chairman Board member and General Manager of property management companies and other organizations and individuals concerned is responsible for the implementation of this circular.