Thông tư 09/2013/TT-NHNN

CIRCULAR

ON THE MAXIMUM INTEREST RATES OF VND SHORT-TERM LOANS IMPOSED BY CREDIT INSTITUTIONS AND BRANCHES OF FOREIGN BANKS ON THEIR BORROWERS IN ORDER TO SATISFY THE DEMAND FOR CAPITAL SERVING SOME ECONOMIC SECTORS AND FIELDS

Pursuant to the Law on the State bank of Vietnam No. 46/2010/QH12 dated June 16^th 2010;

Pursuant to the Law on credit institutions No. 47/2010/QH12 dated June 16^th 2010;

Pursuant to the Government's Decree No. 96/2008/ND-CP dated August 26^th 2008, defining the functions, tasks, powers and organizational structure of the State bank of Vietnam;

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

The Governor of the State bank of Vietnam promulgates the Circular providing on the maximum interest rates of VND short-term loans imposed by credit institutions and branches of foreign banks on their borrowers in order to satisfy the demand for capital serving some economic sectors and fields

Article 1. The interest rates of VND short-term loans imposed by credit institutions and branches of foreign banks

1. The maximum interest rate of VND short-term loans is 11% per annum; people's credit funds and microfinance institutions may fix the maximum interest rate of 12% per annum applicable to VND short-term loans.

2. The short-term loans in Vietnam dong being applied the maximum loaning interest rates as prescribed in clause 1 this Article are loans that satisfy the capital demands for:

a) Serving the agricultural and rural development as prescribed in the Government's Decree No. 41/2010/ND-CP of April 12, 2010 on the credit policy serving the agricultural and rural development;

b) Executing the plans and projects of production and trading of exports as prescribed in the Commercial Law

c) Serving the production and trading of medium and small enterprises prescribed in the Government's Decree No. 56/2009/ND-CP dated June 30^th 2009 on supporting the development of medium and small enterprises;

d) Developing the ancillary industries as prescribed in the Prime Minister’s Decision No. 12/2011/QD-TTg dated February 24^th 2011 on the policies on the development of some ancillary industries;

e) Serving the production and trading of the high-tech application enterprises as prescribed in the Law on High Technologies, and relevant laws.

Article 2. Responsibility of borrowers

1. The borrowers of credit institutions, branches of foreign banks eligible for the loan interest rates prescribed in Article 1 of this Circular are the borrowers that satisfy the loan conditions in accordance with the regulations of the State bank of Vietnam on the loans given by credit institutions and branches of foreign banks to their clients, and their financial conditions are considered transparent and healthy by the credit institution and branches of foreign banks.

2. The borrowers shall provide the information and documents proving the purposes of capital loans serving to the sectors, fields eligible for the loan interest rates prescribed in this Circular, and take responsibility before law for the truthfulness and accuracy of the information and documents provided.

Article 3. Responsibility of credit institutions and branches of foreign banks

1. Credit institutions and branches of foreign banks shall publicly post the loan interest rates, the criteria for identifying borrowers as prescribed in Clause 2 Article 1 and Clause 1 Article 2 of this Circular.

2. The credit institutions and branches of foreign banks shall supply loans to the borrowers prescribed in this Circular in accordance with the laws on loaning and the safety ratio in business operation of credit institutions and branches of foreign banks, and other regulations of relevant laws; do not collect the fees related to the loans given to clients, except for some fees prescribed in the Circular No.  05/2011/TT-NHNN dated March 10^th 2011 of the Governor of the State bank of Vietnam, on the loaning loan fees collected by credit institutions.

Article 4. Implementation organization

1. This Circular takes effect on March 26, 2013 and supersedes the Circular No. 33/2012/TT-NHNN of December 21, 2012 of the Governor of the State bank of Vietnam, providing on the maximum rates of interest on short-term loans in VND imposed by credit institutions, branches of foreign banks on their borrowers in order to satisfy the demand for capital serving some economic sectors and field.

2. The loan interest rates in the credit contracts signed before this Circular takes effect shall be implemented under the signed credit contracts in accordance with law provision at the time of contract signing.

3. For the loans not being prescribed in this Circular, credit institutions and branches of foreign banks shall comply with the Circular No. 12/2010/TT-NHNN dated April 14^th 2010 of the Governor of the State bank of Vietnam, guiding the loans in VND given by credit institutions to their clients at agreed interest rates.

4. The Chief Officer, the Director of the Monetary Policy Department, Directors of the units affiliated to the State bank of Vietnam, Directors of branches of the State bank at central-affiliated cities and provinces; Presidents of the Boards of Directors, the Member assembly, General Directors (Directors) of credit institutions and branches of foreign banks, and relevant organizations and individuals are responsible for the implementation of this Circular./.