Approving the proposal to develop a resolution to extend the time limit for bad debt settlement

The Government has just issued Resolution 45/NQ-CP approving the proposal to develop a Resolution of the National Assembly on extending the application period of Resolution 42/2017/QH14 of the National Assembly on piloting bad debt settlement. of credit institutions.

Approving the proposal to develop a resolution to extend the time limit for bad debt settlement

Approving the proposal to develop a resolution to extend the time limit for bad debt settlement (Illustration image)

Specifically, the Government approved the proposal to develop a Resolution of the National Assembly on extending the application period of Resolution 42/2017/QH14 dated June 21, 2017 on piloting the handling of bad debts of credit institutions according to the proposal. recommendation of the State Bank.

At the same time, the State Bank of Vietnam was assigned to assume the prime responsibility for, and coordinate with relevant agencies in, urgently studying and developing a draft Resolution of the National Assembly on extending the application period of Resolution 42/2017/QH14. dated June 21, 2017 of the National Assembly on piloting bad debt settlement of credit institutions to submit to the National Assembly according to regulations, ensuring strict, quality, effective, timely, correct order and procedures. and legal regulations.

Resolution 45/NQ-CP takes effect from March 25, 2022.

Resolution 42/2017/QH14  stipulating a number of pilot policies on handling bad debts and handling collaterals of bad debts of credit institutions, foreign bank branches and organizations owned by the State. owning 100% of the charter capital established by the Government to handle bad debts of credit institutions; rights and obligations of relevant agencies, organizations and individuals in handling bad debts and handling collaterals of bad debts of credit institutions, foreign bank branches, organizations that the State countries owning 100% of the charter capital established by the Government to deal with bad debts of credit institutions.

However,  Resolution 42/2017/QH14  took effect from August 15, 2017 and expires on August 15, 2022.

Therefore, on March 7, 2022, the State Bank of Vietnam asked for comments on the draft Resolution of the National Assembly on extending the application period of Resolution 42/2017/QH14 on piloting bad debt settlement of credit institutions. credit institutions until August 15, 2025.

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