Time limit for reporting of implementation of internal rules and regulations on credit extension, management of loans/debts and risk provisioning policies to the State Bank of Vietnam
What is time limit for reporting of implementation of internal rules and regulations on credit extension, management of loans/debts and risk provisioning policies to the State Bank of Vietnam? Please advice.
Time limit for reporting of implementation of internal rules and regulations on credit extension, management of loans/debts and risk provisioning policies to the State Bank of Vietnam is specified in Clause 1, Article 7 of Circular 11/2021/TT-NHNN, specifically as follows:
1. Within 10 (ten) days from the date of introduction, revision or update of internal rules and regulations regarding credit extension, management of loans/debts and risk provisioning policies, credit institutions and foreign bank branches must send the State Bank directly or by post or electronic means as prescribed in Clause 5 of this Article 01 set of documents, including the followings:
a) In case of introduction of new ones:
(i) Written report on introduction of internal rules and regulations on credit extension, management of loans/debts and risk provisioning policies;
(ii) The full text of internal rules and regulations on credit extension, management of loans/debts and risk provisioning policies.
b) In case of revision or update of the existing ones:
(i) Written report on revision and update of internal rules and regulations on credit extension, management of loans/debts and risk provisioning policies, clearly stating reasons for such revision and update;
(ii) The full text of the revised or updated version of internal rules and regulations on credit extension, management of loans/debts and risk provisioning policies.
Best Regards!
