Thông tư 25/2018/TT-NHNN sửa đổi Thông tư 10/2015/TT-NHNN hướng dẫn thực hiện Nghị định 55/2015/NĐ-CP về chính sách tín dụng phục vụ phát triển nông nghiệp, nông thôn do Thống đốc Ngân hàng Nhà nước Việt Nam ban hành

CIRCULAR

AMENDING A NUMBER OF ARTICLES OF THE CIRCULAR NO. 10/2015/TT-NHNN DATED JULY 22, 2015 BY THE GOVERNOR OF THE STATE BANK OF VIETNAM GUIDING THE IMPLEMENTATION OF A NUMBER OF CONTENTS OF THE GOVERNMENT’S DECREE NO. 55/2015/NDD-CP DATED JUNE 09, 2015 ON THE CREDIT POLICY FOR AGRICULTURAL AND RURAL DEVELOPMENT

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2010 and Amendments to some regulations of the Law on Credit Institutions dated November 20, 2017;

Pursuant to the Government’s Decree No. 55/2015/NDD-CP dated June 09, 2015 on the credit policy for agricultural and rural development;

Pursuant to the Government’s Decree No. 116/2018/NDD-CP dated September 07, 2018 amending a number of Articles of the Government’s Decree No. 55/2015/NDD-CP dated June 09, 2015 on the credit policy for agricultural and rural development;

Pursuant to the Government’s Decree No. 16/2017/NDD-CP dated February 17, 2017 on functions, tasks, authority and organizational structure of the State Bank of Vietnam;

At the request of the Director General of the Department of Credit for Economic Sectors;

The Governor of the State Bank of Vietnam promulgates the Circular amending a number of Articles of the Circular No. 10/2015/TT-NHNN dated July 22, 2015 by the Governor of the State Bank of Vietnam guiding the implementation of a number of contents of the Government’s Decree No. 55/2015/NDD-CP dated June 09, 2015 on the credit policy for agricultural and rural development.

Article 1. To amend a number of Articles of the Circular No. 10/2015/TT-NHNN dated July 22, 2015 by the Governor of the State Bank of Vietnam guiding the implementation of a number of contents of the Government’s Decree No. 55/2015/NDD-CP dated June 09, 2015 on the credit policy for agricultural and rural development (hereinafter referred to as “the Circular No. 10/2015/TT-NHNN”)

1. Article 1 is amended as follows:

“Article 1. Scope of amendments

This Circular provides for the policies for provision of loan funds; debt repayment rescheduling and loan origination; applications and procedures for debt charge-off and grant of grace period; maximum deduction rate of the value of collateral for loans for agricultural and rural development according to the Government’s Decree No. 55/2015/NDD-CP dated June 09, 2015 on the credit policy for agricultural and rural development (hereinafter referred to as “the Decree No. 55/2015/NDD-CP”) and the Government’s Decree No. 116/2018/NDD-CP dated September 07, 2018 amending a number of Articles of the Decree No. 55/2015/NDD-CP (hereinafter referred to as “the Decree No. 116/2018/NDD-CP”).”.

2. Clause 2 of Article 2 is amended as follows:

“2. The borrowers prescribed in Clause 2 and Clause 3 of Article 2 of the Decree No. 55/2015/NDD-CP (amended by Clause 1 of Article 1 of the Decree No. 116/2018/NDD-CP).”.

3. Clause 1 of Article 4 is amended as follows:

“1.Credit institutions may consider the following options for the borrowers prescribed in Clause 1 of Article 12, Clause 3 of Article 14 and Clause 3 of Article 15 of the Decree No. 55/2015/NDD-CP who have difficulties with debt repayment due to objective factors and/or force majeure:

a) Rescheduling debt repayments and retaining the debt classification at the request of the borrowers and credit institution’s evaluation of borrower’s debt repayment capability; the rescheduled deadline for repayment shall be appropriate to borrower’s business operation cycles but the maximum rescheduled time limit shall not exceed the initial time limit prescribed in concluded credit agreements;

b) If the borrower is still unable to repay the debt by the rescheduled deadline and thus is no longer eligible for another debt rescheduling and debt classification retention, the credit institution shall re-classify such debt according to applicable regulations of the State Bank on classification of assets, levels and method of setting up of risk provisions, and use of provisions against credit risks in the banking activity of credit institutions, foreign banks’ branches;

c) Grant a new loan to facilitate the borrower’s resumption of business operation it the borrower has a feasible business operation project/plan.”.

4. Article 4a is added after Article 4 as follows:

 “Article 4a. Grant of grace period

For loans for growing, care and regrowing of perennials, credit institutions and their borrowers shall reach an agreement on grace period and interest appropriate to the development phase of the perennials. A grace period is a period of time starting from the time of disbursement by the credit institutions to the time of principal and interest repayment by the borrowers per credit agreements.”.

5. Article 5 is amended as follows:

“Article 5. Applications and procedures for debt charge-off

Applications and procedures for debt charge-off shall comply with Clause 3 of Article 12 of the Decree No. 55/2015/NDD-CP (amended by Clause 6 of Article 1 of the Decree No. 116/2018/NDD-CP).”.

6. Clause 2, Clause 3, Clause 4 and Clause 5 of Article 7 are amended and Clause 6 is added to Article 7 as follows:

“2. Providing guidelines on the following contents for the purpose of consistent implementation in the credit institution system:

- Grant association loans for agricultural production in compliance with Clause 4 of Article 14 of the Decree No. 55/2015/NDD-CP (amended by Clause 7 of Article 1 of the Decree No. 116/2018/NDD-CP);

- Applications and procedures for debt charge-off in compliance with Clause 3 of Article 12 of the Decree No. 55/2015/NDD-CP (amended by Clause 6 of Article 1 of the Decree No. 116/2018/NDD-CP). Credit institutions shall be responsible for the accuracy, legitimacy and eligibility of documents, statistics and borrowers related to request for debt charge-off.

3. Proactively cooperating with local governments of all levels and socio-political organizations in disseminating the credit policy for agricultural and rural development according to the Decree No. 55/2015/NDD-CP, Decree No. 116/2018/NDD-CP and this Circular.

4. Specifying and including use of loans for agricultural and rural development in credit agreements, monitoring dossiers of loans of the agriculture and rural area sector separately.

5. Submitting to the State Bank reports on credit outstanding debts of the agriculture and rural area sector according to regulations on the statistical reporting system applied to credit institutions and foreign bank branches; quarterly reports (before the 15th of the first month of the next quarter) on debt repayment rescheduling and debt classification retention for the agriculture and rural area sector according to the specimen enclosed with this Circular.

6. Inspecting and supervising debt rescheduling and debt classification retention in the credit institution system to ensure accurate debt reports."

7. Point a of Clause 1 of Article 8 and Point b of Clause 4 of Article 8 are amended as follows:

“a) Advising the Governor of the State Bank on cooperation with the Ministry of Finance in considering and handling requests for debt charge-off due to objective factors, force majeure and large-scale natural disasters and epidemics as prescribed in Clause 2, Clause 3 and Clause 4 of Article 12 of the Decree No. 55/2015/NDD-CP (amended by Clause 6 of Article 1 of the Decree No. 116/2018/NDD-CP);”.

“b) Taking charge and cooperating with Departments of Finance in inspecting, confirming, reviewing and compiling documents, statistics and borrowers related to requests for debt charge-off of credit institutions so as to advise province-level People’s Committees on reports submitted to the Prime Minister, the State Bank and the Ministry of Finance as prescribed in Clause 3 of Article 12 of the Decree No. 55/2015/NDD-CP (amended by Clause 6 of Article 1 of the Decree No. 116/2018/NDD-CP);”.

Article 2. Point d of Clause 4 of Article 8 and Forms No. 01, 02, 03, 04, 05 and 06 enclosed with Circular No. 10/2015/TT-NHNN are annulled.

Article 3. Transitional provisions

For credit agreements concluded before the effective date of this Circular, credit institutions and their borrowers shall continue executing the contents of such agreements that are conformable with regulations that were effective when such agreements were concluded or amend such agreements according to the provisions herein.

Article 4. Responsibilities for implementing organization

Head of the Office of the State Bank, Director General of the Department of Credit for Economic Sectors, heads of affiliates of the State Bank, Directors of State Bank branches of provinces and central-affiliated cities, Chairpersons of Boards of Directors, Chairpersons of Members’ Councils and General Directors (Directors) of credit institutions and foreign bank branches shall be responsible for organizing the implementation of this Circular.

Article 5. Effect

This Circular takes effect from December 10, 2018./.

REPORT

ON DEBT REPAYMENT RESCHEDULING AND DEBT CLASSIFICATION RETENTION FOR AGRICULTURE AND RURAL AREA SECTOR(Enclosed with Circular No. 25/2018/TT-NHNN dated October 24, 2018 by the Governor of the State bank of Vietnam)

[Quarter, year]

(Unit: Million dong, borrowers)

Instructions for report preparation:

- Column (3) + (6) = Column (9); Column (4) + (7) = Column (10); Column (5) + (8) = Column (11);

- Total row = Row 1 + 2 + 3 + 4 + 5.

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