Pursuant to the law the State Bank of Vietnam on December 12, 1997 and amended Laws, supplementing a number of articles of the law on the State Bank of Vietnam on 17 June 2003;
Pursuant to the law on credit institutions, December 12, 1997 and amended Laws, supplementing a number of articles of the law on credit institutions of 15 June 2004;
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 41/2010/ND-CP dated 12 April 2010 the Government credit policies serve the agricultural, rural development;
The State Bank of Vietnam guide details the implementation of Decree 41/2010/ND-CP dated 12 April 2010 the Government credit policies serve the agricultural, rural development (hereinafter referred to as the Decree 41/2010/ND-CP) as follows: article 1. The object and scope of application 1. The institutions made loans to agricultural development, rural areas include: a) The credit institution is organized and operates under the provisions of the law on credit institutions make loans serves rural agriculture development under the provisions of this circular and the provisions of relevant laws;
b) small-scale financial institutions and banks, the financial institution established by the Government to make loans under the policy of the State, make loans according to Government's own regulations and according to the provisions of this circular.
2. The scope of personal loans, organizations serving the agricultural, rural development is regulated in clause 2 article 2 of Decree 41/2010/ND-CP DATED as follows: a) The customer object specified at points b, c, e to reside and have basic or business projects on rural areas;
b) client object specified in point e must have production facilities, local rural business and loan purpose to cater for the operation of the production facilities, this business.
3. The field of lenders serving the agricultural, rural development are defined in article 4 of Decree 41/2010/ND-CP.
Article 2. Loan capital 1. Loan capital of the credit institution, the financial institution for agriculture, rural areas include: a) the mobilization of capital for credit institutions and financial institutions for lending;
b) loans, which received funding, Trustees of the financial institutions, domestic and foreign credit;
c) Government trust funds for lending to agricultural sector, rural: credit institutions make loans by Government Trustees must follow strictly the content the Government mandate;
d) equity loans State Bank: State Bank of Vietnam (SBV) for credit institutions to make loans to borrow the areas specified in article 4 of the Decree 41/2010/ND-CP DATED form of refinancing under the provisions of the current law. Credit institutions must use the correct loan purpose specified in this circular and made the commitment to the State Bank.
2. The Bank, financial institution lending policy, the Government's economic program in the countryside are guaranteed government loan funds from the State budget transferred or granted to compensate the difference between the interest rate and loan mobilization of credit institutions.
Article 3. Loan guarantee mechanism 1. Credit institutions and financial institutions for lending to agricultural development, rural under the provisions of Decree 41/2010/ND-CP was considering lending decision, secured by property or unsecured by the property according to the current rules of the law of secured transactions and credit operations of the Bank. In the case of loans secured by assets, credit institutions based on the characteristics, conditions of their activities to specific provisions for loans not secured by assets and the maximum loans not secured by assets that fit the individual borrowers.
2. The customer's personal, household, group collaboration, households of local rural business, cooperative, ranchers are not loans secured by the property to make plans or production projects, in the fields of business lending service of agricultural development rural, the provisions of Decree 41/2010/ND-CP DATED according to the following levels: a maximum of 50 million) for the object is the individual, household, group collaboration, households producing agricultural, forestry, fisheries, matchsticks;
b) 200 million maximum for households and business, industry or manufacturing services agriculture, rural;
c) maximum 500 million for cooperatives, farm owners in rural, agricultural areas.
3. The customer is not loans secured by property as defined in Paragraph 2 of this Article in compliance with the principle of the loan conditions, according to the current regulations and must submit the original certificate of land use; the case has not yet been granted land use right certificate, the borrowers must be granted the township-level people's committees 1 original (unique) client certificate has not been issued a certificate of land use and land without dispute.
4. The customer is only unsecured loans in a single credit institution and be responsible before the law about getting loans as prescribed in paragraph 2 and Paragraph 3 of this article.
5. Credit institutions are lending secured by trust of social-political organization for individuals, households to make productive projects, business service, under the provisions of the civil code and in accordance with the current rules on lending and loan guarantees.
Article 4. Time limit and interest rates for loans 1. Based on the time the growth of livestock, crops, time rotated capital, repayment ability of clients, credit institutions and customers loans term agreement accordingly.
2. Credit institutions, financial institutions lending for agriculture, rural areas according to the interest rate specified in article 11 of the Decree 41/2010/ND-CP.
Article 5. The sort of debt, set up and use the reserve to handle credit risks 1. Credit institutions loans for the agricultural sector, rural indebtedness classification, implementation and use of risk reserve according to the regulations on the classification of debt, set up and use the reserve to handle credit risk in lending operations serving the agricultural, rural development of State banks.
2. The profile service, rural agricultural development is tracked separately as a base to manage, inspect, monitor and debt classification process, use the redundancy risks.
Article 6. Term debt restructuring and new loans 1. Case of financial difficulty due to objective reasons, do not pay the debt for credit institutions, credit organizations considering restructuring debt deadline for the customer according to the regulations.
2. where are the debt structure at credit institutions but needs new loans to manufacturing, trading or remedial disasters, epidemics, the credit organization based on feasibility, effectiveness of the project, the business approach of the customer to consider new loans , which do not depend on old debt balances not yet delinquent customers.
Article 7. Handle the risk of credit institutions for customers 1. The case risks arise in terms of normal business activity, credit institutions lend self dealing from a backup source of risk of the credit institution according to the rules.
2. in case of disaster, disease occurs on an extension (on the basis of the notification of the competent authorities), credit institutions based on the extent of the damage and the repayment ability of clients to consider excluding debt interest circled for customers was heavily damaged hard not to pay the bank debt in a timely manner. Debt interest not delineated time a maximum of 2 years for outstanding customer remains at the time of the disaster, disease. Interest credit institutions have circled for customer reduced on profits tax income (taxable profit) of the credit institutions.
3. The profile of debt to credit institutions are delineated management, private track to facilitate monitoring the screening process of the credit institution debt delineated.
4. The Chairman of the Board, General Director (Manager) of the credit institutions is responsible before the law about circled debt for customers as defined in paragraph 2 and Paragraph 3 of this article.
Article 8. The process of handling the debt arise on an extension due to objective causes 1. The case generated extensive risks by objective causes, beyond the ability of the credit institutions, branches of credit institutions, the people's credit Funds and small scale financial institutions report on the Bank branch of the province, the central cities in (State Bank branch , City). State Bank branch to the synthetic city, reported the State Bank and the people's Committee of the city, on the State of damage to outstanding loans of credit institutions to make the facility the prime consideration process.
2. Credit institutions summing the damage for the outstanding credit in the system-wide reporting to the State Bank, the Ministry of finance and the Ministry of planning and investment.
3. State Bank in collaboration with the Ministry of finance and the relevant unit consider the prime mechanism for handling risks in each specific case.
Article 9. Insurance of agricultural credit organizations in policy formulation as long, steady interest rates for borrowers of capital in the agricultural sector, rural areas have involved buying insurance in the direction of applying the interest rate is lower than the corresponding loan interest rate for the loan of the customers do not buy insurance.
Article 10. The responsibility of credit institutions 1. Guide the agricultural, rural loans clear, simple procedures consistent with rural clients and ensure secure, efficient.
2. Enact long policy, reduced interest rates for customers who have purchased the insurance risk in agriculture subject loans in credit institutions.
3. building plans network expansion activities in the remote areas, rural areas and diversification of the forms of lending and provision of services for the population in rural areas, in accordance with the provisions of the current law.
4. Actively coordinate with the Administration, social-political organizations locally in the information, propaganda on the loan policy of the Bank, made loans, debt collection and monitor the process using the customer's loan, ensure a safe, effective.
5. Work closely with other social-political organizations in implementing trust loan for customers as individuals, households, according to the provisions in clause 5 of article 3 of this circular; authorization agreement for social-political organization to perform all or some of the credit profession on the basis of ensuring the efficiency of credit capital investment.
6. Monthly (at the latest on the 10th of the next month), credit institutions report the State Bank (credit) loan results in agriculture, rural according to the corresponding form (form 2 and form 3) attached to this circular.
Article 11. The responsibility of the client 1. Provides a full, honest information, documents related to the loan and is responsible for the accuracy of the information, the materials were provided.
2. Use the correct loan purpose, the original repayment, interest rates according to the agreements with credit institutions.
3. To comply with the provisions of relevant laws when loans in credit institutions.
Article 12. The responsibilities of the units belonging to State Bank 1. Monetary policy a) based on the total amount of annual supply has been approved, the State Bank Governor (Governor) for a volume of money to make the refinance for agricultural, rural areas;
b) the use of mandatory reserves in order to facilitate support for capital credit lending institutions serving the agricultural, rural development; in collaboration with Service credit and transaction to organizations make loans refinance, re discount according to the regulations.
2. international cooperation a) coordinated with the ministries concerned to conduct advocacy and the mobilization of resources from international financial institutions to lend to agricultural sector development, rural;
b) initiative and in cooperation with the ministries involved in speeding up the implementation of disbursement, recommending measures to remove these obstacles exist in the process of implementing investment projects for agriculture, rural areas.
3. Service credits a) discount limit construction, re discount of Bank for bank lending in rural, agricultural areas; advise the Governor in the refinancing to credit institutions to invest in the agricultural sector, rural;
b) in cooperation with the relevant units in the implementation of the economic program, the Government's credit program for rural agriculture;
c) presiding, in cooperation with the Ministry of finance in the Gospel, the assessment records suggest the handling of credit institutions for the customer loan losses due to natural disasters, widespread epidemics; advised the Governor to propose measures to handle the debt for loan losses of the credit organization;
d) synthetic monthly report the Governor about results of lending for agriculture, rural areas.
4. Inspection bodies, monitoring a Bank of) building policy encourages open branches, offices of credit institutions in rural areas (particularly remote areas) towards creating more favorable conditions than urban areas;
b) perform inspections, oversees the agricultural, rural loans in accordance with the law.
5. Transaction directly perform the specific services of discount, discount and refinance for credit institutions in the rural, agricultural loans under the rules.
6. State Bank branch in the city, a), the State Bank report about the situation of risk incurred widespread due to objective causes on the area and advised people's Committee, the city the authority to handle;
b) perform the duties related to the credit policy for agriculture, the rural areas by function, duty or Governor;
c) monthly (at the latest on the 10th of the next month), State Bank of India branch of the province, the city of General results of agricultural loans, rural areas reporting to the State Bank (credit) according to form 1 attached.
Article 13. Terms of implementation 1. This circular has effect from the day of signing.
2. Office, Director of the credit, the heads of the relevant units in the State Bank, Director of the State Bank branch in the province, city, Chairman of the Board, General Director (Manager) of the credit institution, the financial institution concerned is responsible for the implementation of this circular.