Thông tư 07/2011/TT-NHNN

CIRCULAR

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

Pursuant to the Law on the Vietnam State Bank 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 Decree of the Government No. 160/2006/ND-CP of December 28, 2006 providing for detailing of execution the Ordinance on Foreign Exchange;
Pursuant to the Decree No.96/2008/ND-CP of August 26, 2008 of the Government providing for functions, duties, authorities and organizational structure of the Vietnam State Bank;
Executing the Resolution No. 11/NQ-CP of February 24, 2011 of the Government on key solutions for concentrate controlling of inflation, stabilizing macro-economy and ensuring social welfare;
The Vietnam State Bank provides on foreign currency loans of the credit institutions and branches of foreign banks (hereinafter called as the credit institutions) with the loan customers being residents as follows:

Article 1. The credit institutions licensed to operate in foreign exchange shall consider deciding of foreign currency loans with customers being residents for the following funds demands:

1. The short-term, mid-term and long-term foreign currency loans in order to oversea paying for imported goods and services in foreign exchange on condition that customers have sufficient in order to paying of debt rely on the income source from production and business, buying of the loan credit institution or other credit institution undertaken in writing.

2. The short-term foreign currency loans in order to implement production and business plan of goods exporting through the border gate, frontier of Vietnam on condition that customers have adequate foreign exchange in order to paying of the debt rely on the income source of exporting; in case customers loan in foreign exchange with this loans demand in order to domestic use, customers have to sell such borrowed foreign currency for the loan credit institutions by foreign exchange method on the spot (spot).

3. The loans for other foreign exchange capital demands outside provisions in clause 1 and clause 2 of this article have to take the approving in writing of the State Bank’s governor.

Article 2.

1. The credit institutions loan in foreign currency according to provisions in this Circular, law provisions on loans, foreign exchange management, safety ensuring rate in credit institutions’ business activities and other relative regulations of laws.

2. The credit institutions report to the State Bank of Vietnam of their foreign currency loan according to the annex enclosed with this Circular.

Article 3. Implementation organization

1. This Circular takes effect on May 9, 2011 and replaces documents: the Decision No. 09/2008/QD-NHNN of April 10, 2008 of the Governor of the Vietnam State Bank on loan in foreign currency of the credit institutions with the loan customers being residents, the Circular No. 25/2009/TT-NHNN of December 15, 2009 on supplementing article 1 of Decision No. 09/2008/QĐ-NHNN of April 10, 2008.

3. For the credit contracts signed before the effective date of this Circular, the credit institutions and loan customers comply according to content of signed credit contracts which be suitable to invalid laws at the signing time of such credit contracts.

4. Chief Office, Head of the Monetary and Policy Department and Heads of relative units under the Vietnam State Bank, Directors of Vietnam State Bank's branches in centrally-affiliated cities and provinces, Chairman of the Board of Directors and General Directors (Directors) of credit institutions, relative organizations and individuals shall be responsible for implementation of this Circular./.

Credit Institution’ name:…………………………………..

MONTHLY REPORT OF OUTSTANDING LOAN BALANCES IN FOREIGN CURRENCY LOANS
Month…….year………..
(Enclosed with March 24, 2011 Circular No. 07/2011/TT-NHNN)

Notes:

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

2. The limit time for sending the reports: Monthly, latest on the 10th of the next month of the report month.

3. Recipient units: The Monetary and Policy Department – The Vietnam State Bank, 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 main responsible person for answering the report in details at the State Bank’s requirement.