Thông tư 03/2012/TT-NHNN

CIRCULAR

PROVIDING ON FOREIGN CURRENCY LOANS OF THE CREDIT INSTITUTIONS AND BRANCHES OF FOREIGN BANKS WITH CUSTOMERS BEING RESIDENTS 

Pursuant to the Law on the State Bank of Vietnam No.46/2010/QH12 of June 16, 2010;

Pursuant to the Law on credit institutions No. 47/2010/QH12, of June 16, 2010;

Pursuant to the Ordinance on foreign exchange No. 28/2005/PL-UBTVQH11 of December 13, 2005;

Pursuant to the Government’s Decree No.160/2006/ND-CP of December 12, 2006 detailing the implementation of the Ordinance on foreign exchange;

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

At the proposal of the Director General of Monetary Policy Department;

The Governor of the State Bank of Vietnam issues the Circular providing on foreign currency loans of credit institutions and branches of foreign banks with customers being residents,

Article 1. Credit institutions, branches of foreign banks licensed to operate in foreign exchange shall consider deciding of short-term, mid--term and long-term foreign currency loans with customers being residents in order to oversea paying for imported goods and services in foreign exchange on condition that customers have sufficient foreign exchange in order to paying of debt rely on the income source from production and business.

Article 2. Credit institutions and branches of foreign banks licensed to operate in foreign exchange shall consider deciding of foreign currency loans with customers being residents regarding to the capital demands outside provisions in Article 1 of this Circular in the following cases:

1. Short-term loans in order to oversea paying for imported petrol when have the approving in writing of the State Bank of Vietnam.

2. Loans the capital demands which have been approved in writing by the State Bank of Vietnam for each specific case upon request of credit institutions and branches of foreign banks on the following basis:

a) The demands of foreign currency loans of customers to implement production, business plans and projects of goods in the prioritized fields under the Government’s policy.

b) Credit institutions and branches of foreign banks have appraised and assure that the production-business plans and projects of the customers are feasible, effective and the customers must fully meet conditions on capital borrowing under laws on lending activities and it is possible to collect the debt at the due time (principal and interest).

Article 3.

1. Credit institutions and branches of foreign banks shall provide foreign current loans in accordance with provisions of this Circular and provisions of laws on loans, foreign exchange management, prudential ratios in business activities of credit institutions and other relative regulations of laws.

2. Credit institutions and branches of foreign banks shall monthly report to the State Bank of Vietnam of their foreign currency loan activities according to the annex enclosed with this Circular.

Article 4.

1. This Circular takes effect from May 02, 2012 and replaces the Circular No. 07/2011/TT-NHNN of March 24, 2011 of the Governor of the State Bank providing on foreign currency loans of the credit institutions with customers being residents.

2. For signed credit contracts prior to the effective date of this Circular, credit institutions and branches of foreign banks and their borrowers shall implement  according to contents of the signed credit contract in compliance with provisions of laws which are effective at the time of signing of credit contracts or they may agree to amend their credit contracts conformable to provisions of this Circular.

3. The chief of the Administrative Department, Director General of the Monetary Policy Department, Heads of units under the State Bank of Vietnam, Managers of branches of the State Bank of Vietnam in provinces and centrally-run cities, Chairman of the Board of Directors, Chairman of the Members’ Council and General Directors (Directors) of credit institutions, branches of foreign banks, other related organizations and related individuals shall be responsible for the implementation of this Circular./.

Name of credit institution or name of branch of foreign bank: .............................

REPORT OF OUTSTANDING LOAN BALANCES IN FOREIGN CURRENCY LOANS

Month …. year……..

(Promulgated together with the Circular No. 03/2012/TT-NHNN, of March 08, 2012)

Notes:

1. Outstanding loan balances in point 1: (1)=(a)=(b)

2. The limit time for sending report: Monthly, no later than the 12th of the next month of the report month.

3. Recipient units: The Monetary Policy Department – The State Bank of Vietnam, 49 Ly Thai To – Hoan Kiem – Ha Noi (email: [email protected], fax: 04.38246953 – 04.38240132)

4. Be suggested to write full name and telephone number of the person in charge of answering the report in details at the State Bank of Vietnam’s requirement.