On March 29th, 2019, the State Bank of Vietnam issued Circular 04/2019/TT-NHNN amending the Circular No. 24/2013 / TT-NHNN regulating the classification of assets and off-balance-sheet commitments of Vietnam Development Bank is issued by the State Bank of Vietnam. The Circular takes effect from May 15th, 2019.
Accordingly, Circular 04/2019/TT-NHNN amended the adjustment scope of Circular No. 24/2013/TT-NHNN as follows:
This Circular provides for the classification of assets (hereinafter referred to as debt) and off-balance sheet commitments of Vietnam Development Bank.
Debts that must be classified in this Circular include:
State investment credit loans;
Export credit of the State under the contract signed before the Decree No. 32/2017/ND-CP dated March 31, 2017 of the Government on effective investment credit of the State;
Re-lending foreign loans of the Government;
Entrusted lending;
Other loans;
Amounts paid on behalf of off-balance sheet commitments.
Commercial bank loan guarantees (hereinafter referred to as off-balance sheet commitments) must be classified under this Circular to manage and supervise the quality of credit granting activities of the Vietnam Development Bank. Male.
For debts and off-balance sheet commitments specified in Clauses 2 and 3 of this Article, the Government and the Prime Minister provide guidance on the classification, and follow the instructions of the Government and the Prime Minister.
Thus, the State Bank has made adjustments and amendments to the actual implementation and current international trends.