What is the application form for extending refinancing loans of credit institutions on the basis of special bonds in Vietnam?
- What is the application form for extending refinancing loans of credit institutions on the basis of special bonds in Vietnam?
- What does the application for extending refinancing loans of credit institutions on the basis of special bonds in Vietnam include?
- What are the requirements for special bonds so that credit institutions in Vietnam are extended refinancing loans?
What is the application form for extending refinancing loans of credit institutions on the basis of special bonds in Vietnam?
In the near future, credit institutions applying for extension of refinancing loans on the basis of special bonds shall use the application form for extending refinancing loans of credit institutions on the basis of special bonds specified in Appendix No. 03 issued together with Circular 15/2022/TT-NHNN stipulating as follows:
Download the application form for extending refinancing loans of credit institutions on the basis of special bonds: Here.
What does the application for extending refinancing loans of credit institutions on the basis of special bonds in Vietnam include?
Pursuant to Article 10 of Circular 15/2022/TT-NHNN stipulating as follows:
Application for refinancing loans and extending refinancing loans
1. An application for refinancing loans includes:
a) An application form for refinancing loans according to Appendix No. 02 issued together with this Circular;
b) Statement of special bonds as the basis for refinancing loans according to Appendix No. 04 issued together with this Circular (02 copies).
2. An application for extending refinancing loans includes:
a) An application form for extension of refinancing loans according to Appendix No. 03 issued together with this Circular;
b) Statement of special bonds as the basis for extension of refinancing loans according to Appendix No. 04 promulgated together with this Circular (02 copies);
c) An explanatory report on the request for extension of refinancing loans, including at least the following contents: Difficulties in the affordability of the credit institution; the satisfaction of the provisions of Article 7 of this Circular by the credit institution; measures that credit institutions are expected to apply to overcome difficulties in affordability and repayment of refinancing loans.
3. The documents in the application must be made in Vietnamese and signed by the legal representative of the credit institution; are the original or copies issued from the original book or certified copies or copies presented with the original for comparison.
4. Credit institutions shall send applications directly or via postal services as prescribed in Clauses 1 and 2 of this Article to the Head Office of the State Bank (Department of Receiving and Returning Results). After receiving the valid application of the credit institution, the State Bank shall carry out procedures on receiving and handling administrative procedures in accordance with regulations on settlement of administrative procedures of the State Bank.
5. When there are changes on the special bond data in the statement of special bonds in the application, the credit institution shall update and send the updated application directly or via the postal service to the Head Office of the State Bank (Department of Receiving and Returning Results). After receiving the updated application, the State Bank shall finish ongoing administrative procedures and carry out procedures on receiving and handling new administrative procedures. The State Bank shall reuse the previously updated application and application (if any) of the credit institution to handle new administrative procedures.
Accordingly, the application for extending refinancing loans of credit institutions on the basis of special bonds in Vietnam includes:
- An application form for extension of refinancing loans according to Appendix No. 03 issued together with this Circular;
- Statement of special bonds as the basis for extension of refinancing loans according to Appendix No. 04 promulgated together with this Circular (02 copies);
- An explanatory report on the request for extension of refinancing loans, including at least the following contents: Difficulties in the affordability of the credit institution; the satisfaction of the provisions of Article 7 of this Circular by the credit institution; measures that credit institutions are expected to apply to overcome difficulties in affordability and repayment of refinancing loans.
What are the requirements for special bonds so that credit institutions in Vietnam are extended refinancing loans?
Pursuant to Article 4 of Circular 15/2022/TT-NHNN as follows:
- Special bonds are legally owned by credit institutions and are deposited at the Transaction Department of State Bank of Vietnam.
- Special bonds are not eligible for the payment process.
- Special bonds are not eligible for the list of special bonds that credit institutions are requesting the State Bank to consider extending the terms prescribed by the State Bank on the purchase, sale and settlement of bad debts of the Asset Management Company of Vietnam credit institutions (hereinafter referred to as the Asset Management Company).
- At the date on which the credit institutions make special bond statements as a basis for refinancing or extension of refinancing and the date on which the credit institutions update the special bond statements as prescribed in Clause 5, Article 10 of this Circular, the remaining term of the special bond is longer than the time limit for requesting refinancing or extension of refinancing for at least 06 months.
Circular 15/2022/TT-NHNN will take effect from January 17, 2023.
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