Documentation requirements for risk treatment of credit institutions and foreign bank branches in Vietnam
What does applications for risk treatment of credit institutions and foreign bank branches in Vietnam comprise? Please advice.
Documentation requirements for risk treatment of credit institutions and foreign bank branches in Vietnam specified in Clause 4, Article 16 of Circular 11/2021/TT-NHNN, specifically as follows:
4. Documentation requirements for risk treatment, including:
a) Credit extension and debt collection file for debts to which risks are treated by using provisions;
b) Collateral or security property file and other relevant documents (if any);
c) Decision or approval of debt classification and risk provisioning results by Risk Management Committee.
d) Decision or approval of use of risk provisions by Risk Management Committee;
dd) In case where a borrower is an organization or an enterprise that goes bankrupt or is dissolved, in addition to the documents mentioned at point a, b, c and d of this clause, the original or the certified copy or the copy from the master register of the court’s decision on declaration of bankruptcy or the decision on dissolution of the enterprise in accordance with law must be provided;
e) In case where an individual customer is dead or has gone missing, in addition to those specified at point a, b, c and d of this clause, the original or the certified copy or the copy from the original book of the Death Certificate or the written confirmation of the borrower’s death by the commune-level local authority in the absence of the Death Certificate, or the decision that declares that the individual has gone missing in accordance with law, must be provided.
Best Regards!
