Thông tư 12/2024/TT-NHNN sửa đổi Thông tư 39/2016/TT-NHNN quy định về hoạt động cho vay của tổ chức tín dụng, chi nhánh ngân hàng nước ngoài đối với khách hàng do Thống đốc Ngân hàng Nhà nước Việt Nam ban hành

CIRCULAR

AMENDMENTS TO CIRCULAR NO. 39/2016/TT-NHNN DATED DECEMBER 30, 2016 OF GOVERNOR OF STATE BANK OF VIETNAM PRESCRIBING LENDING TRANSACTIONS OF CREDIT INSTITUTIONS AND FOREIGN BANK BRANCHES WITH CUSTOMERS

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

Pursuant to the Law on Credit Institutions dated January 18, 2024;

Pursuant to the Government's Decree No. 102/2022/ND-CP dated December 12, 2022 prescribing functions, tasks, powers and organizational structure of the State Bank of Vietnam; 

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

The Governor of the State Bank of Vietnam (SBV) promulgates a Circular providing amendments to the Circular No. 39/2016/TT-NHNN dated December 30, 2016 of the Governor of the State Bank of Vietnam prescribing lending transactions of credit institutions and foreign bank branches with customers.

Article 1. Amendments to Circular No. 39/2016/TT-NHNN

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a) Clause 1 is amended as follows:

“1. “lending” means a form of extension of a line of credit under which a credit institution offers or undertakes to offer a customer a sum of money for specific uses within a given time period on the condition that the customer will fully pay the agreed-upon principal and interest amounts to the credit institution.”.

b) Clause 13 is added as follows:

“13. “small-value loan” means a loan which is given as prescribed in clause 2 Article 102 of the Law on Credit Institutions and does not exceed VND 100.000.000 (one hundred million).”.

c) Clause 14 is added as follows:

“14. “related person” of a customer means an organization or individual that has a relationship with the customer as prescribed in clause 24 Article 4 the Law on Credit Institutions.”.

2. Clause 2 Article 4 is amended as follows:

“2. The customer that gets loan from a credit institution shall be bound to properly use the loan amount for the stated purpose, make full repayment of principal and interest amounts, and fees within the repayment period agreed upon with the credit institution.”.

3. Clause 3 Article 7 is amended as follows:

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4. Article 9 is amended as follows:

“Article 9. Loan application

1. When there is a demand for a loan, a customer must provide the credit institution with the following:

a) Information, data and documents proving the customer’s eligibility for such loan as prescribed in Article 7 of this Circular, and others as referred to in the credit institution’s instructions;

b) Information on the customer’s related person in the case prescribed in clause 2 of this Article.

Information on a related person that is an individual includes: full name; personal identification number; nationality, number, date of issue and issuing authority of passport, for a foreigner; relationship with the customer.

Information on a related person that is an organization includes: name, enterprise ID number, and headquarters address of the enterprise, number of enterprise registration certificate or another document of equivalent legal effect, legal representative and relationship with the customer.

2. Provision of point b clause 1 of this Article applies to the following cases:

a) At the time of submission of an application for loan to a commercial bank, cooperative bank or foreign bank branch, the customer’s total outstanding debt from credit extension (including outstanding debt from the loan for which the customer is applying for) is higher than or equal to 0,1% of the equity of that commercial bank, cooperative bank or foreign bank branch at the end of the last business day;

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c) At the time of submission of an application for loan to a people’s credit fund, the customer’s total outstanding debt from credit extension (including outstanding debt from the loan for which the customer is applying for) is higher than or equal to 1% of the equity of that at the end of the last business day at the end of the last business day;

d) If a credit institution’s equity is a negative number, the abovementioned percentages shall apply to its charter capital or allocated capital, for foreign bank branches.”.

5. Clause 2 Article 16 is amended as follows:

“2. The customer is responsible for providing the following information, data and documents for the credit institution in truthful, exact, adequate and timely manner, and shall assume responsibility for such provided information, data and documents, including:

a) Those prescribed in clause 1 Article 9 hereof;

b) Report representing use of loan amount, and information, data and documents evidencing that the loan amount is properly used to serve the purpose defined in the loan agreement;

c) Information, data and documents on the security for the loan if this is included in the loan agreement between the credit institution and the customer.”.

6. Point b(iii) clause 2, Point c(iii) clause 2 Article 22 of the Circular No. 39/2016/TT-NHNN, as amended by Points c, d Clause 6 Article 1 of the Circular No. 06/2023/TT-NHNN dated June 28, 2023 of the Governor of the State Bank of Vietnam, are amended and Point c(iv) is added to such clause 2 Article 22 of the Circular No. 39/2016/TT-NHNN as follows:   

a) Point b(iii) Clause 2 is amended as follows:

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b) Point c(iii) Clause 2 is amended as follows:

“(iii) In case a loan is used to serve as security for performing an obligation of the customer toward a third party, measures for ensuring the recovery of the loan principal amount in case the parties fail to fulfill the secured obligation as agreed;”.

c) Point c(iv) is added to clause 2 as follows:

“(iv) For small-value loans, measures for inspection and supervision of the use of borrowed funds for stated purposes and debt repayment by customers, ensuring ability to fully recover the principal and interest amounts on the agreed schedule.”.

7. Article 24 of the Circular No. 39/2016/TT-NHNN, as amended by Clause 8 Article 1 of the Circular No. 06/2023/TT-NHNN, is amended as follows:

 “Article 24. Inspection of use of loan amounts

1. The customer is obliged to properly use the borrowed fund for the stated purpose, and fully repay the principal and interest amounts, and fees on the agreed-upon schedule; submit report on use of borrowed fund, and provide information, data and documents evidencing that the borrowed fund is properly used to serve the loan purpose.

2. The credit institution is entitled and obliged to carry out inspection and supervision of use of borrowed fund and debt repayment by their customers as prescribed in clause 1 Article 102 of the Law on Credit Institutions; is entitled to request their customers to submit reports on use of borrowed funds and provide information, data and documents evidencing that the borrowed fund is properly used to serve the loan purpose.

3. For small-value loans, credit institutions must adopt measures for inspection and supervision of use of borrowed funds for stated purposes and debt repayment by their customers, ensuring ability to fully recover the principal and interest amounts on the agreed schedule.”.

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a) Clause 1 is amended as follows:

“1. Comply with regulations on cases of loan rejection, restriction and limitation as referred to in the Law on Credit Institutions, and SBV’s regulations on prudential limits or ratios for operations of credit institutions.”.

b) Clause 3 is amended as follows:

“3. Classify risks associated with lending operations, set aside and use provisions for such risks in accordance with regulations of law.”.

c) Clause 5 is added as follows:

“5. In case a loan is used to serve as security for performing an obligation of the customer toward a third party, the lending credit institution shall reach an agreement with the customer on freezing of the loan amount at the lending credit institution in accordance with regulations of law until the customer’s fulfillment of the secured obligation.”.

d) Clause 6 is added as follows:

“6. Credit institutions must retain lending dossiers in accordance with provisions of the Law on Credit Institutions for a retention period prescribed by law on archives.”.

dd) Clause 7 is added as follows:

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For small-value loans, the credit institution must obtain at least information on lawful loan purposes and the customer’s financial capability before deciding to grant loans.”.

Article 2. Article 29 and Article 32 of the Circular No. 39/2016/TT-NHNN and Article 32g of the Circular No. 39/2016/TT-NHNN, as amended by clause 11 Article 1 of the Circular No. 06/2023/TT-NHNN, are abrogated.

Article 3. Responsibility for implementation

Chief of Office, the Director of the Monetary Policy Department, Heads of units affiliated to the State Bank of Vietnam, Directors of branches of the State Bank of Vietnam in provinces and central-affiliated cities, credit institutions and branches of foreign banks are responsible for the implementation of this Circular.

Article 4. Effect

1. This Circular comes into force from July 01, 2024.

2. Clause 8, and Point b Clause 9 Article 1 of the Circular No. 06/2023/TT-NHNN are abrogated.

3. With regard to a loan agreement or credit contract signed before the effective date of this Circular, the credit institution and its customer shall continue complying with terms and conditions of the loan agreement or credit contract signed in accordance with regulations and laws in force at the date of signing of that loan agreement or credit contract. Any revisions to the signed loan agreement or credit contract must comply with the provisions of this Circular./.

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PP. GOVERNOR
DEPUTY GOVERNOR




Pham Thanh Ha