CIRCULAR additional amendments to some articles of the circular 45/2011/TT-NHNN dated Jan. 30, 2011 Governor's State Bank Forex management rules for lending, debt collection of foreign credit institutions _ _ _ _ _ _ _ _ _ _ _ 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;
Foreign Exchange Ordinance base of 28/2005/PL-UBTVQH11 of the National Assembly Committee on 13 December 2005 and Ordinance No. 06/2013/PL-UBTVQH13 18 Mar 2013 amend and supplement some articles of the Ordinance on foreign exchange;
Pursuant to Decree No. 154/2013/ND-CP DATED 11 November 2013 of government functions, tasks, powers and structure of the State Bank of Vietnam;
At the suggestion of the Director of the Foreign Exchange Management;
The Governor of the State Bank of Vietnam issued a circular amending and supplementing some articles of the circular 45/2011/TT-NHNN dated Jan. 30, 2011 Governor's State Bank regulations on Foreign Exchange Management for lending, debt collection of foreign credit institutions (hereafter referred to as the circular 45/2011/TT-NHNN).
Article 1. Amendments and supplements to some articles of the circular 45/2011/TT-NHNN DATED JAN. 1. Modify the additional clause 1, article 2 as follows: "1. Lending abroad is granted credit, under which credit institutions delivered or promised to the customer who is not a resident (hereinafter the foreign borrower) a sum of money to use in the the purpose defined in a certain period of time under the agreement with the principle has repaid all principal and interest."
2. Amendments, supplements Account 7 article 2 as follows: "7. loan account, withdrawal of foreign debt payment is the account that the lending credit institution abroad use to make loans abroad."
3. additional Paragraph 8 to article 2 as follows: "8. The Bank provides account services are commercial banks, foreign bank branches operating in Vietnam where the lending credit institution abroad open account payment to make disbursements, loan debt recovery abroad and other money transfers related to lending activities , foreign debt recovery. "
4. additional Paragraph 5 on article 3 as follows: "5. Build options to mobilize foreign currency lending and ensure suitable rules on the structure of the currency, term structure between mobilization and lending, avoid risks and liquidity risks that may arise due to make loans abroad."
5. Amendments, supplements the name article 5 and article 5 paragraph 1 as follows: "article 5. Money lending, debt collection abroad 1. The loans, debt collection of foreign credit institutions made in foreign currency. Debt collection coins are the currency of the loan disbursement. The recovery of the debt in foreign currency other than the currency disbursements made under the agreement between the borrower and lender credit abroad. "
6. additional amendments clause 1 and clause 2 article 9 as follows: "1. Credit institutions performing the registration of loans with the Bank within a period of 30 (thirty) days from the date of signing the loan agreement (in the case of loans not guaranteed) or within a period of 30 (thirty) days from the date of guarantee the guarantee documents signed.
2. in case of changing any content related to the offshore loans are stated in the certificate of registration, registration confirmation to change offshore loans of State banks, the lending credit institution abroad are responsible for implementing the change registered offshore loans in the time limit : a) 30 (thirty) days from the date of signing the agreement change; or, b) 30 (thirty) days from the date of guarantee signed documents agreeing to the content change the loan agreement (loan guarantee); or, c) before the time the content changes to the content change case does not need to sign the agreement to change. "
7. additional amendments to article 10 as follows: "article 10. Profile register loan credit institutions sent directly or sent by post 1 (a) the registered record loans to state banks. Profile includes: 1. loan application abroad (according to annex 01 attached to this circular).
2. The report reviews the impact of offshore loans to compliance with rules on minimum capital safety ratio; credit level limit for a client (the borrower) and people concerned; the maximum rate of short-term capital is used for medium and long term loans; the rate of outstanding loans compared to total deposits; the rate of pay; the status of foreign currency lending credit institutions abroad.
3. the evaluation report offshore loans consisting of the following principal contents: assessing the feasibility, effectiveness of investment projects, business plan of the borrower; the associated risks, the ability to recall the original capital, interest rates for loans in full and on time; conformity about the value of the loan and the scale of the project using the loan; the issue of guaranteed loan and other related content.
4. Report on the foreign currency loan capital including content related to the scale, structure and term structure of currencies between mobilized and lending in foreign currency at the time of signing the loan agreement.
5. Copy and Vietnamese translation to form or certificate of registration of the borrower's investment abroad according to country regulations.
6. A copy of the certificate of registration of overseas investment of Vietnam investors own the capital and directly involved in the management of the investment activity in the foreign borrower.
7. Copy and Vietnamese translations (certified by the authorized representatives of credit institutions) signed loan agreements.
8. Copy and Vietnamese translations (certified by the authorized representatives of credit institutions) of the text, the guarantee agreement, secured loans abroad (if any). "
8. Amendments, supplements article 11 paragraph 3 as follows: "3. The report reviews the impact of offshore loans to compliance with rules on minimum capital safety ratio; credit level limit for a client (the borrower) and people concerned; the maximum rate of short-term capital is used for medium and long term loans; the rate of outstanding loans compared to total deposits; the rate of pay; the status of foreign currency lending credit institutions abroad (cases increase turnover or extending the loan term abroad). "
9. additional Paragraph 5 on article 12 as follows: "5. The credit institutions comply with regulations regarding the limits, the rate guarantee safety in the operation of credit institutions when making loans abroad include: the safe minimum capital ratio; credit level limit for a client (the borrower) and people concerned; the maximum rate of short-term capital is used for medium and long term loans; the rate of outstanding loans compared to total deposits; the rate of pay; the maximum foreign currency status compared with the capital letters. "
10. Amendments, supplements article 14 as follows: "article 14. Loan accounts, foreign debt recovery 1. Credit institutions are lending commercial banks abroad are responsible for implementation of the monitoring of the transactions related to its overseas lending according to the current rules on accounting, accounting for commercial banks; responsibility and guarantee the implementation of the transactions related to offshore loans in accordance with the text of the State Bank to confirm registration, registration of changes to offshore loans of credit organizations.

2. Credit institutions are not lending commercial banks abroad are responsible for loan accounts, foreign debt recovery at 1 (one) Bank provides account services to perform all transactions disbursement loans, foreign debt recovery (the original debt, interest rates and fees ...).
The Bank provides account services is responsible for implementation of the inspection, the document issued by the lending credit institution abroad to present to ensure the correct implementation of transactions offshore loans have been the confirmation State Bank register, confirm registration changes and in accordance with the current provisions of the law.
3. The credit institutions use foreign currency account abroad to make offshore loans made under current rules on opening and using the foreign currency account abroad by credit institutions. "
11. additional amendments article 15 as follows: "article 15. Reporting credit institutions loans abroad and supply bank account services make the reporting regime under the provisions of the State Bank on statistical reporting regime applicable to credit institutions, branches of foreign banks. "
12. Amendments, supplements a item 2 article 16 as follows: "a) within a period of 7 (seven) working days from the date of the proposal of the foreign exchange management about taking comments for offshore loans, inspection agency, monitoring the Bank has send text Service Forex management of content related to the offshore loans of credit institutions. Text content including: business scope confirmation, foreign exchange services offered by credit institutions; confirm the credit institutions to comply with the current rules of the State Bank of the limits, the rate of security as specified in paragraph 4 Article 12 this circular at the last moment, before the signing of the loan agreement or the agreement to change in case of change or turnover increases the loan term abroad. "2. Annuls Article 7 circular 45/2011/TT-NHNN.
Article 3. Terms of implementation 1. This circular is effective from June 30, 2016.
2. From the date of this circular effect enforcement, article 8 circular No. 29/2015/TT-NHNN on 22/12/2015 of the Governor of the State Bank of Vietnam amending and supplementing a number of legal texts of the State Bank of Vietnam stipulates the profile components have certified copies of papers , most text effect.
3. Office, Director of the Foreign Exchange Management, heads of units of the State Bank, Director of the State Bank branch, central cities, Chairman of the Board, the President of the Council members, the Director-General (Executive Director) credit institutions, branches of foreign banks be responsible for organizing the implementation of this circular.