On December 28, 2018, the State Bank of Vietnam issued Circular No. 45/2018/TT-NHNN guiding lending credit institutions with guarantees of credit guarantee funds. This Circular takes effect from February 12, 2019.
Accordingly, Circular No. 45/2018 / TT-NHNN has but notable new points as follows:
1. Regarding coordination in guaranteed loans
In case the credit guarantee fund receives security property to guarantee activities, the lender, the credit guarantee fund, the security property party and related parties (if any) agree in writing to ensure guarantee that the lender has the right to receive and process security property to guarantee activities in case the credit guarantee fund fails to perform the guarantee obligation as prescribed.
Before providing loans with guarantee of credit guarantee fund, lender and credit guarantee fund: a- Pursuant to the lender’s internal regulations and the method of organizing the operation of the fund credit guarantee stipulated in Article 14 of Decree No. 34/2018 / ND-CP, signing a framework agreement or a time-to-time agreement on the loan coordination with the guarantee of the Credit Guarantee Fund to unify the content in the process of implementing guarantee and lending and is a basis for exercising the rights and obligations of the parties when arising; b- In cases where the parties wish to amend or supplement the signed coordination agreement, the amendment and supplement must be made in writing and an integral part of the coordination agreement document. .
2. Principles of lending
Lender considers, appraises, decides to lend in Vietnam dong for investment projects, production and business plans of customers guaranteed by the Credit Guarantee Fund with the obligation to pay principal and interest. , repayment of principal and interest on loans in accordance with regulations and take responsibility for its lending decisions.
Classification of debts, restructuring of repayment periods, overdue debt transfer, provision and use of provisions to handle lenders’ risks for loans of customers with guarantee of credit guarantee funds made according to regulations.
Lender and customer agree on the lending interest rate for short, medium and long-term loans of customers with guarantee of credit guarantee fund, ensuring loan interest rate is not higher than lending interest rate. same term, same sector, field of lender, in accordance with regulations.
It can be seen that the new regulations of the State Bank in loan guarantee activities in Circular No. 45/2018 / TT-NHNN are expected to attract and facilitate the strong development of operations. credit in the coming years.