Circular 45/2011/tt-Nhnn: Regulations On Foreign Exchange Management For Lending, Debt Collection Of Foreign Credit Institutions

Original Language Title: Thông tư 45/2011/TT-NHNN: Quy định về quản lý ngoại hối đối với việc cho vay, thu hồi nợ nước ngoài của tổ chức tín dụng

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THE STATE BANK OF VIETNAM
Number: 45 /2011/TT-NHNN
THE SOCIALIST REPUBLIC OF VIETNAM.
Independence-Freedom-Happiness
Hanoi, December 30, 2011

IT ' S SMART

The regulation of foreign exchange management for lending, foreign debt recovery of the credit organization, is available.

____________________________

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;

Base of Protocol 160 /2006/NĐ-CP December 28, 2006 the Government rules out the implementation of the Foreign Exchange ordinance;

Base of Protocol 96 /2008/NĐ-CP August 26, 2008 by the Government Regulation, the mandate, the powers and the organizational structure of the State Bank of Vietnam;

The State Bank of Vietnam (later known as the State Bank) rules on foreign exchange management for lending, revoking foreign debt of the credit organization as follows:

Chapter I

GENERAL REGULATION

What? 1. The tuning range and subject apply

1. This information specifies foreign exchange management for lending, the income of foreign debt of the credit organization.

2. The applicable subject of this Smart is the organizations, individuals who are involved in the lending of loans, the income of foreign debt of the credit organization.

What? 2. Explain the word

In this Information, the words below are understood as follows:

1. Lending abroad is the organization of credit or commitment to the customer who is non-resident (later called foreign borrower) a sum of money to be used on the purpose of determining for a certain period of time under the agreement with the principle of reimbursable both the root and interest.

2. Loan Agreement is the text of the agreement between the credit organization and the foreign lender that controls the bank and the debt recovery, which rules the terms and conditions of the loan abroad for the purpose of using the borrower, the loan method, the loan amount, the interest. The term, the deadline, the payment term, the contents of the loan guarantee, the payment method, and other relevant commitments.

3. Change Agreement is the text of the agreement between the credit organization and the foreign lender on the additional content, the revision of the signed loan agreement. The change agreement may be in the form of a new agreement, the appendix to the signed loan agreement.

4. Register for loan, register for loan change. is the organization of credit for registering with the State Bank on the loan to foreign loans or changes to the loan to foreign countries according to the provision in this Information.

5. Register confirmation is the text of the State Bank that confirmed that the credit organization has made a registration of the loan to foreign countries according to the regulation at this Smart.

6. Confirm registration changes is the text of the State Bank that confirmed that the credit organization made the registration changes to foreign loans when changing the content that was confirmed by the State Bank at the registration confirmation text.

7. Loan account, foreign debt recovery is a foreign currency account used to make a loan out of foreign countries.

What? 3. Credit organization

1. Justice of the legal capacity, financial capacity of foreign lenders; the ability to implement a loan agreement to ensure income of the original debt and interest in the loan agreement.

2. Bear the risk of legal and financial risk in the signing and implementation of the loan agreement.

3. Compliance the current regulations of law on foreign exchange management, lending and revoking foreign debt, which rules the credit organization ' s loan to the customer, ensuring the loan to foreign loans, other regulations of Vietnamese law and the law of the law. foreign countries are involved in the signing and implementation of the loan agreement.

4. Building the credit appraisal process, administration and prevention of credit risk to the lending operation, repayment of foreign debt in accordance with the existing regulations of the relevant law.

What? 4. Lt for Foreign Capital

1. When engaging in foreign capital loans, the credit organization must comply with the regulations at this level and other provisions of the relevant law.

2. The case has 1 (one) the credit organization engaging with other lenders being non-resident to make a loan to foreign capital, the credit organization implementing regulations on loan registration, registration changes to loan with the Bank of the United States. state, open and use a loan account, revoking foreign debt, a regulatory report at this Smart for a loan to foreign capital.

3. The case has from 2 (two) the credit organization that performs a loan to foreign capital, the unified credit organizations that authorize a credit organization as a clue. The Organization of the Head credit is responsible for representing credit organizations that implement the regulations on loan registration, registration changes to the loan with the State Bank, opening and using the loan account, foreign debt recovery, the report of the loan. According to the regulations on this message.

What? 5. The currency lending abroad

1. The loan, repayment of foreign debt by the credit organization made in foreign currency.

2. The loan cases, the return of foreign debt of the credit organization of Vietnam are only made when there is written approval by the State Bank.

What? 6. Tell the loan to borrow abroad

The case for foreign loans is secured by a bail organization in Vietnam, the implementation of the obligation to comply with the provisions of the relevant law.

Chapter II

SPECIFIC REGULATION

What? 7. The conditions for lending abroad

The credit organization when making a loan out abroad must meet the following conditions:

1. As a credit organization supported by the State Bank, which provides foreign exchange services on the international market including lending activities on the international market.

2. Compact by the current regulatory regulation of the State Bank on credit growth rates, the safety guarantee rates in the operation of the credit organization.

3. There is a regulatory process for borrowing abroad under the principle of ensuring independence and a clear definition of personal responsibility, accountability between the appraisal and decision making out of foreign loans.

4. Do the debt classification, extract the credit risk prevention for foreign loans under the current regulatory regulation of the State Bank on the taxing of debt, extract and use the backup to handle the credit risk in the organization ' s banking operations. Credit.

5. Perform a loan project appraisal, national risk assessment and the ability to recall the original capital, the interest of the loan to a full and full foreign loan.

6. There is a raising and loan method that guarantees the right principle of a currency structure, a term mechanism between mobiles and loans, avoiding term risk and liquidity risk that may arise due to the implementation of a foreign loan.

7. Only make foreign loans to the projects, the business production method is consistent with the legal activities of foreign lenders.

8. Ensure that the content of the loan agreement and the agreements regarding the loan to foreign loans is not contrary to the current regulation of the Vietnamese law.

What? 8. Foreign loans

1. The credit organization only makes loans to foreign lenders as established and operated overseas businesses that have a contribution to Vietnam's business in the form of direct investment abroad.

2. Other cases are only made when there is written approval by the State Bank.

What? 9. Register for loan, register for loan change.

1. On the basis of a response to foreign loan conditions prescribed at this Smart, the credit organization signs a loan agreement, the agreement changes with foreign lenders and other parties involved.

2. The credit organization that imples the registration of the loan, registration changes to the loan with the State Bank in the 30 (thirty) date from the date of the signing of the loan agreement or the change agreement (case of unsecured loan) or in the 30 (thirty) date from the date of the organization the bail or the text of the bail or the text agrees with the content that changes the loan agreement (the case of a secured loan).

3. Every transaction regarding the loan abroad is made only after the credit organization has been registered by the State Bank, confirming the registration of the change according to the regulation at this Smart.

4. The credit organization does not have to register with the State Bank of the loan agreements that do not have the withholding effect such as: Framework Credit Agreement, Memorabit Memorabit and other similar agreements but content these agreements are not contrary to their regulation. Vietnamese law.

What? 10. Record registration records

The credit organization sent directly or sent via postal route 01 (one) the filing of the loan register to the State Bank (Foreign Exchange Management). The profile consists of:

1. The application register for foreign loans (according to Annex 01 issued by this message).

2. Report the credit growth situation of the credit organization, which demonstrates the response to safety assurance rates in the operation of the credit organization at the end of the last month in the day of the signing of the loan agreement and assessment of the impact of the loan. Foreign loans to compliance with credit growth rates and safety rates in the operation of the credit organization.

3. The report appraisal of foreign loans includes the following primary content: the feasibility assessment, the effectiveness of the investment project, the business production method of foreign lenders; related risks, the ability to recall the original capital, full loan interest, and more. due to the right; the suitcases of loan value and project size use of the borrower; the problem of ensuring the loan and other related content.

4. The report and commitment of the credit organization on the response to foreign loan conditions stipulated at paragraph 3 and Clause 4 Article 7 of this, including the following primary content: regulation of a credit process for lending practices abroad. of the credit organization; the status quo of credit cadres, governance capacity, risk prevention; the implementation of the debt classification, which extracts the bill for foreign loans; the pledge to comply with the State Bank ' s existing regulations on the distribution of loans. type of debt, extract and use of the backup to handle credit risk to foreign loans.

5. A report on the loan of foreign currency lending includes a scale-related content, currency structure, and a term mechanism between the raising capital and the foreign currency lending at the time of the loan agreement.

6. The copy and translation of the Vietnamese language have a certificate of establishment or certificate of investment registration of the foreign borrower as defined by the country.

7. The copy of the Certificate of Certificate of Foreign Investment of Vietnam ' s business joins the capital in the Foreign Loan.

8. The copy and translation of the Vietnamese language (confirmed by the competent representative of the credit organization) the loan agreement signed.

9. The copy and translation of the Vietnamese language (confirmed by the competent representative of the credit organization) the documents, the bail agreement, guarantees the loan to foreign countries.

What? 11. Registration Profile changes

The credit organization sent directly or via postal route 01 (one) the registration case changes the loan to the State Bank (the Foreign Exchange Management). The profile consists of:

1. The registry changes the loan to foreign countries (according to Annex 2 issued by this Information).

2. The copy and translation of the Vietnamese language (confirmed by the competent representative of the credit organization) the change agreement signed. Where the changing content of the relevant parties has been agreed upon by the loan agreement or accepted by the rule of law without formal signing of the text between the parties, the credit organization has the text of the document clear of this content. in the registration case that changes the loan.

3. The report demonstrates the regulatory response of the credit growth rate and safety guarantee rates in credit organization ' s operation at the end of the last month ahead of the date of the signing date of the foreign loan change agreement (the case of changes increase). The tranche or extension of the loan deadline is out of the country.

4. The copy and translation of the Vietnamese language (confirmed by the competent representative of the credit organization) the organization's approval text for the agreement to change (in the case of a secured foreign loan case).

What? 12. The basis considers registration confirmation, validation of registration changes.

The State Bank considers the registration of the registration, confirming the registration changes to the foreign loan organization ' s foreign loan organization on the basis:

1. State foreign exchange management policy in each period.

2. The full and valid calculation of the loan register case, registration changes to the loan.

3. The organization of credit compliance and fulfills of the provision of foreign loans at this Smart, the provision of the credit organization's loan to the customer and other laws of law is relevant.

4. The opinion of the relevant authorities on the loan to foreign loans of the credit organization in the case is required.

What? 13. The time of filing a loan registration case, registration changes to the loan.

1. The State Bank handles the filing of a loan registration filing, registering to change the credit organization's loan in the 30 (thirty) date from the full and valid filing date. In the case of rejection, the State Bank has a written statement of reason.

2. In case of additional information, other conditions to have sufficient basis for confirmation or to refuse to confirm the registration, confirm the change registration, the State Bank of State notified by writing to the credit organization for a 10-day period of work since the filing date. of the credit organization.

What? 14. Loan account, foreign debt recovery

1. Each loan to foreign loans is held through 1 (one) loan account, the income of foreign debt opened at the credit organization itself or at another credit organization. The credit organization must make every exchange of loan financing, revoking foreign debt (original debt, interest, and fees etc.) through this account.

2. The case of an open loan account, repayment of foreign debt at the credit organization itself to make a foreign loan, the credit organization is responsible for its own monitoring of transactions related to the loan to foreign loans on the account. loan, repayment of foreign debt; be responsible and ensure the implementation of transactions related to the right foreign loan with the registered content of registration, validation of the change registration of the State Bank.

3. The case of a loan account, a recall of foreign debt is opened at another credit organization to make a loan out of foreign loans, the credit organization where the account is open has the responsibility to carry out the inspection, the reference of documents issued by the lender. to ensure the correct implementation of the transactions of a foreign loan that has been registered by the State Bank, confirming the registration of change and in accordance with the existing regulations of the law.

4. The organization of credit using an open foreign currency account for lending, repayment of foreign debt is carried out under the current regulation of openness and use of foreign currency accounts of the credit organization.

What? 15. Report Mode

1. The monthly periodic (slog on the 10th of the next month), annually (the slog on January 31 of the next year), the credit organization is responsible for reporting the situation to make foreign loans (according to Annex 3 and Annex 04). This is an executive order.

2. The case of a sudden, the credit organization performs the report at the request of the State Bank.

Chapter III

THE ORGANIZATION.

What? 16. Mission assignments and coordination mechanisms

1. Foreign Exchange Management:

a) presided over, in coordination with the relevant units of the State Bank that dealt with common matters concerning the lending of foreign credit by the credit organization under the existing rules of law.

b) General opinion of the Ombudman Agency, which oversees the bank and other units of the State Bank, other relevant agencies (in the case of necessity), reports the State Bank of the Bank that decides whether to confirm or deny confirmation of the registration. Sign, confirm the registration of the change in accordance with this message.

c) A six-month period of periodic data reporting the Governor of the Bank of the State for the situation of the loan, revoking the foreign debt of the credit organizations.

2. Inspector of the Bank:

a) For a 10-day period of work since the date of the recommended receiving of the Foreign Office of Foreign Affairs of Foreign Affairs of Foreign Affairs, the Bank of Inspects, the bank monitoring of the bank has the letter to the Foreign Office of Foreign Affairs. The loan from the credit organization. The text content includes: validation of the business scope, the credit organization ' s foreign exchange service; confirming the organization of credit guarantees compliance with the current regulations of the State Bank for safety rates in the operation of the credit organization, and the organization. The regulations on the rate of use of short-term raising capital to lend a long-term credit to the credit organization at the end of the month before the date of the signing of the loan agreement or the change agreement in the case of change to increase the needle or deadline for the loan. Borrowing abroad.

b) Host, in coordination with relevant units that carry out the inspection, inspection, monitoring of the loan operation, the recovery of foreign debt of the credit organizations; the handling of the violations of the birth.

3. Other units of the State Bank, in accordance with the duty function and the scope of management, have coordination responsibilities, engage in opinion on loan registration records, registration changes to the credit organization's loan in case required.

What? 17. Terms of execution

1. This message has been in effect since 13 February 2012.

2. The foreign loan of the credit organization made before this message was in effect made in accordance with the registration confirmation text, confirming the change registration (if any) of the State Bank. The case with the agreement changes after this date is valid, the credit organization performs under the provisions of this Information.

What? 18. The organization performs

Chief of the Office, the Chief of Foreign Affairs Management, Chief Inspector, bank oversight, the Head of State Bank of the State Bank, Director of the Provincial Bank of the State, the Central City of Central, Chairman of the Board, General Manager (Director) the credit organization is responsible for this private practice.

KT. GOVERNOR.
Vice Governor.

(signed)

The Emperor.