Circular 17/2011/tt-Nhnn: Regulations On The Loan Secured By Pledge Of Valuable Papers Of The State Bank Of Vietnam For Credit Institutions

Original Language Title: Thông tư 17/2011/TT-NHNN: Quy định về việc cho vay có bảo đảm bằng cầm cố giấy tờ có giá của Ngân hàng Nhà nước Việt Nam đối với các tổ chức tín dụng

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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 Decree No. 96/2008/ND-CP on August 26, 2008 Government's functions, tasks, powers and structure of the State Bank of Vietnam;

The State Bank of Vietnam regulations on the loan secured by pledge of valuable papers of the State Bank of Vietnam for credit institutions as follows: chapter I GENERAL PROVISIONS article 1. Scope this circular regulates the short-term lending in Vietnam (VND), State Bank of Vietnam for credit institutions in the form of secured by pledge of valuable papers aimed at supplying short-term capital and liquidity for credit institutions.

Article 2. Explanation of terms In this circular, the terms below are interpreted as follows: 1. For loans secured by pledge of valuable papers (hereinafter referred to as the loan pledge) is the form of the loan of the State Bank of Vietnam (hereinafter referred to as the Bank) for credit institutions on the basis of the pledge valuable papers owned by credit institutions to ensure repayment obligations.

2. Pledge valuable papers is the State Bank holds the original papers are reviews or require credit institutions to transfer valuable papers on State Bank's account opened at Vietnam securities depository Center to ensure debt service for one or more of the loan pledge of credit institutions at the State Bank.

3. The interest rate for the loan pledge is refinancing interest rates that apply when State banks make lending pledge for credit institutions and State Bank announced in each period.

4. Time limit for rest of valuable papers is the time from the date the State Bank to disburse the loan pledge for credit institutions to the payment due date of the paper.

Article 3. The object of the loan pledge at the State Bank credit institutions established and functioning according to the law on credit institutions, including banks, non-bank credit organization, the Central People's Credit Fund and foreign bank branches (hereinafter referred to as the institutions).

Article 4. The purpose for the loan pledge State Bank lending pledge for credit institutions to provide short-term capital and liquidity for credit institutions.

Article 5. Lending rules lenders pledge pledge of State Bank for credit institutions to comply with the following principles: 1. mortgage loans are secured by the valuable papers eligible under the provisions of article 8 of this circular;

2. Credit institutions are lenders pledge to use the loan for your purposes, debt repayment of principal and interest of bank loans to the State in full, on time.

Article 6. Implementation modalities for the borrower to pledge 1. Direct method: credit institutions dealing directly with the State Bank.

2. indirect method: credit institutions trading through the network professional trading currency market under the guidance of the State Bank.

Article 7. Level code, lock code, code electronic signature credit institutions are State-level bank code, encryption, digital signature code for representatives of credit institutions for transactions through the network transaction money market business of the Bank in lending transactions to ensure safety pledge , privacy.

Article 8. Valuable papers are to pledge 1. Valuable papers were standard pledge: a) transferable;

b) owned by credit institutions borrowing proposal;

c) Have a minimum remaining term by the time of the loan;

d) are not valuable papers by credit institutions to recommend loan release.

2. list, the order of priority of valuable papers loan pledge is used and the ratio between the value of valuable papers loan amount and mortgage in the Bank by the State Governor State Bank regulations in each period.

Article 9. The value of valuable papers used as the secured property for the loan pledge 1. The value of valuable papers used as the secured property for the loan pledge is the total value of valuable papers issued by the denomination.

2. The rate of guarantee of the value of valuable papers loan amount compared to the pledge was Governor of the State Bank regulations in each period.

Chapter II SPECIFIC PROVISIONS article 10. Conditions for the loan pledge on the basis of the direction monetary policy operating and supply amount each period, the Bank decided to make the loan pledge for credit institutions when there are enough of the following conditions: 1. Is the credit institutions specified in article 3 of this circular and not be put into a special control;

2. Have the valuable papers eligible for and in the directory of valuable papers loan pledge is used at the State Bank as defined in article 8 of this circular;

3. loan purpose consistent with the objectives of monetary policy operating State Bank in each period;

4. Have the profile suggested lenders pledge at the State Bank in accordance with the provisions of article 15 of this circular;

5. No overdue debt in the Bank at the time of the loan proposal;

6. Has the commitment to use the loan pledge for your purposes, repayment of principal and interest to the Bank on time.

Article 11. The time limit for the borrower to pledge 1. The deadline for the loan pledge is under 12 months and do not exceed term of rest of valuable papers are pledge. The deadline for the loan pledge including holidays, holidays. The case of the repayment date coincides on days off, holidays, the loan term is extended to the next working day.

2. loan purpose base of the credit institutions, the Bank decided to loan term, term of debt collection in each specific case.

3. The special case, the Bank may consider rescheduling the loan pledge on the basis suggested by the credit institution and the reason the extension line with the orientation of monetary policy operating State Bank.

When wishing to propose the extension of the loan pledge at the State Bank, credit institutions send 1 text proposed to renew the loan pledge (which clearly explain the reasons suggest extension) directly or by post to the State Bank. Within a maximum of 2 working days from the date of the proposed text extended the loan pledge, State Bank has notified in writing to the credit organization recommended the extension of the approval or disapproval to renew the loan pledge and send the relevant units.

Article 12. Mortgage lending rate 1. The interest rate for the loan pledge for credit institutions is refinancing interest rate by the State Bank apply when lenders pledge for credit institutions at the time of disbursement of the loan and maintain throughout the loan term.

2. where the balance of the loan pledge was overdue debt, the credit institution must bear interest overdue by 150% of loan interest recorded on the credit contract.

Article 13. The loan pledge level 1. The base monetary policy goals in each period, the demand for loans, the value of valuable papers do guarantee and outstanding loans of credit institutions at the Central Bank, the State Bank loan rates mortgage decisions for credit institutions borrowing proposal.

2. the maximum lending Rate does not exceed the value of valuable papers make sure exchange regulation of the State Bank.

Article 14. The Authority participated in the loan business to pledge 1. Authorized person on behalf of credit institutions signed the documents involved the loan business to pledge at the State Bank is one of the following people: a) Chairman of the Board or the Chairman of the Council of the members of credit institutions;

b) Director General (Director) of the credit institutions.

2. the competent person specified in clause 1 of this article may be delegated to the Vice President (VP) or the Director of the branch signed the documents involved the loan business to pledge at the State Bank in accordance with the law and the responsibility of the authority. Authorized users are not authorized to leave for a third.

Article 15. Records suggest that the loan pledge When need lenders to pledge at the State Bank, credit institutions posted 01 record directly or by post to the State Bank. Records suggest that the loan pledge include: 1. the recommended Paper loans in the form of loans secured by pledge of valuable papers (form 01/NHNN-CC);

2. Lists of papers have suggested price pledge to loans at the State Bank of Vietnam has confirmed by the issuer, the agent released or held custody (under model 02a/NHNN-CC);

3. Some indicators of sources of capital and use capital in Vietnam under the form 03/NHNN-CC; The trading situation of the credit institution with the State Bank of Vietnam under model 4/NHNN-CC; The Panel calculated the demand loans USD from the State Bank of Vietnam according to the Model, SBV-CC;

4. Balance Sheet of credit institutions at the time (main version).

Article 16. Approve and reject proposed loan pledge of credit institutions 1. Based on the record suggested the loan pledge of credit institutions, the State Bank loan proposal review of credit institutions and within a maximum of 2 working days from receipt of valid profile enough to suggest mortgage loans as defined in article 15 of this circular , The State Bank announced in writing to the credit institutions borrowing proposal on the approval (form 06a/NHNN-CC) or not approved for mortgage loans (in the Sample 06b/NHNN-CC) and sent to related units.

2. State Bank does not consider the proposed pledge loans of credit institutions when the credit institution does not meet the conditions specified in article 10 of this circular.

Article 17. Delivery and return valuable papers do pledge assets 1. After receiving notification of approval for the loan pledge of State banks, credit institutions borrowing proposal to proceed with the transfer of valuable papers to make the property pledge for the State Bank.

2. State Bank made the pledge the valuable papers in the correct category of valuable papers had been approved.


3. During the period of the loan, credit institutions need change the valuable papers being the pledge at the State Bank by papers or other qualified and is in the category of valuable papers loan pledge is used at the State Bank, credit institutions posted 01 record directly or by post to the State Bank. The records include: a) the text explain why change the valuable papers being the pledge at the State Bank with other valuable papers.

b) lists of valuable papers loan pledge to replace at the State Bank of Vietnam has confirmed by the issuer, the agent released or held custody (form 809/NHNN-CC);

Within a maximum of 2 working days from the date of the full profile of valuable papers change proposal was to pledge at the State Bank of credit institutions, the State Bank announced in writing to the credit institutions regarding the approval or disapproval of valuable papers change are pledge and send the relevant units.

4. Once the credit institution has paid off the debt principal and interest of the loan, the Bank will repay the valuable papers were used as pledge assets for credit institutions.

Article 18. Make lenders pledge 1. The loan pledge for credit institutions is done at State Bank.

Transaction State Bank based on profile approved lending pledge has been the Governor of the State Bank approval to conduct the procedure receives the property pledge credit contract with the credit institutions and the transfer of the loan amount on the deposit accounts of credit institutions at the State Bank.

2. where necessary, State Bank Governor can authorize the Director of State Bank branch in the central cities, made lenders pledge for the credit institution has its head office. Process for the borrower to pledge at the Bank branch in the province, the city as done in the Exchange State Bank.

Article 19. Repay the loan pledge 1. As to the term of repayment of credit institutions, payment of principal and interest on the loan pledge for State Bank and receive valuable papers.

2. where the term of repayment to principal and interest that credit institutions do not pay the debt and not be extended to State Bank debt, the State Bank will take measures to recover the debt principal and interest required is as follows: a) deposit accounts of credit institutions at the Central Bank for debt collection;

b) Currency debt principal and interest from other sources (if any) of the credit institutions;

3. after the case has been to extract deposit accounts to debt collection of principal and interest and currency debt from other sources of credit institutions but still not enough to recover the debts, the State Bank will move the remaining debt to overdue debt and overdue interest rates apply. The State Bank will continue to extract deposit accounts to debt collection or may sell or payment with the release of the papers have price pledge on currency markets to recover the debt principal and interest overdue loans of credit organizations.

Chapter III IMPLEMENTATION article 20. The liability of the credit institution loan suggested pledge 1. Provide adequate, timely records, the documents prescribed in this circular and responsible before the law for the accuracy, legality of data, documents and delivering for the State Bank.

2. Make the right commitment to the Bank when the loan pledge about the true purpose of loan use, loan repayment including interest, in full and on time.

3. Transfer of full papers are used as property price pledge and get back the entire property pledge after paying off the loan owed to the State Bank.

4. Subject to the check, control when needed by the State Bank in the use of the loan pledge during the loan.

Article 21. The responsibilities of the units belonging to State Bank 1. Monetary policy a) presiding, in cooperation with the relevant units to determine the level of money supply target for refinance quarterly, annually, which includes all forms of refinancing with mortgage paperwork reviews the Governor State Bank approval and notification to the relevant unit.

b) advised the Governor of the State Bank define and publish interest rates refinance facility to apply for career service pledge valuable papers.

c) in cooperation with the relevant units to solve the difficulties and problems arising in the process of lending pledge.

2. Service credits a) reception and evaluation of records suggest the loan pledge of credit institutions.

b) The Governor of the State Bank approved the loan proposal to pledge valuable papers of credit organizations and authorize the State Bank branch in the province, the city of centrally implemented (if applicable) and inform the credit institutions borrowing proposal on the approval or disapproval of lending pledge.

c) records were Transferred to State Bank Governor for approval to the transaction state banks to make loans.

d) presided, in cooperation with the relevant units to solve the difficulties and problems arising in the process of lending pledge.

DD) The Governor of the State Bank, decided to review the Organization's credit recommendation about changing the valuable papers being the pledge at the State Bank.

e) sum up the implementation for the loan pledge from the Exchange State Bank and the State Bank branch in the central cities, by month, quarter, year to report to the State Bank Governor.

g) The Governor of the State Bank approval, the order in which the valuable papers used in the lending business pledge and the ratio between the value of valuable papers loan amount and mortgage in each period.

3. Transaction State Bank a) base records was the Governor of the State Bank approved loan approvals to pledge, made lenders pledge and pledge valuable papers, debt collection of principal and interest under the provisions of this circular.

b) delivery organization, keeping, preservation of property pledge, records documents, reimbursement of valuable papers loan accounting and pledge as a rule.

c) in cooperation with the relevant units to solve the difficulties and problems arising in the process of lending pledge.

d) data on lending pledge arises at recurring monthly, quarterly, annual, timely detection of the constraints and obstacles in the implementation process to send credit to General reports to the State Bank Governor.

DD) taken custody of valuable papers used to pledge loans at State banks as a rule, confirm custody papers are reviews of credit institutions borrowing proposal for credit institutions to recommend loan pledge are valuable papers at the depository bank.

e) Guide to process loan professional pledge of State Bank for credit institutions.

4. Financial-Accounting: a guide to accounting procedures related to business lending pledge.

5. The Bureau of information technology a) install the software program and ensure communications infrastructure make lenders pledge of stability, safety and security.

b) Regulation code, encryption, digital signature code for professional participants pledge of State banks and credit institutions.

6. Inspection bodies, monitoring a Bank of) the inspection, examination, monitor the use of the loan pledge during the loans of credit organizations; Processed under the jurisdiction and petition the Governor of the State Bank to handle the cases of violation of the provisions of this circular and other related regulations.

b) in cooperation with the relevant units to solve the difficulties and problems arising in the process of lending pledge.

7. State Bank branch in the central cities, a) loan pledge made with regard to the credit institution has its head office on the area when the Governor of the State Bank authorization.

b) delivery organization, keeping, preservation of property pledge, records documents, reimbursement of valuable papers loan accounting and pledge as a rule.

c) every month, quarter and year, General information, data on mortgage loans incurred in the branch, the timely detection of the constraints and obstacles in the implementation process to send credit to General reports to the State Bank Governor.

Article 22. Effect 1. This circular is effective from 01/10/2011 and replaces circular No. 03/2009/TT-NHNN dated Jan. 23, 3/2009 of the Governor of the State Bank regulations on the loan secured by pledge of valuable papers of the State Bank for the Bank and circular No. 12/2009/TT-NHNN dated Jan. 27/5/2009 modified the paragraph 1 article 7 circular No. 03/2009/ TT-NHNN dated Jan. 23, 3/2009 regulation on loans secured by pledge of valuable papers of the State Bank for the Bank.

2. The loan pledge leftovers on the circular debt to this effect continued to perform under the credit contracts signed until the State Bank debts recovery of principal and interest.

3. Office, Director of credit and the heads of the units of the State Bank, Director of the State Bank branch in the province, central cities; Chairman of the Board, the President of the Council members, the Director-General (Executive Director) credit institutions, the Central People's Credit Fund, foreign bank branch is responsible for the implementation of this circular.