Legal Counselling

Guidelines for credit rating of people’s credit funds in Vietnam according to Circular No. 42/2016/TT-NHNN

11:48, 01/05/2017

This is a notable content specified in Circular No. 42/2016/TT-NHNN of the State Bank of Vietnam prescribing the credit rating of people’s credit funds, which replaces Decision No. 14/2007/QĐ-NHNN.

According to Circular No. 42/2016/TT-NHNN of the State Bank of Vietnam (SBV), a people’s credit fund shall be rated:

- A (Excellent) if its total score is 80 points or higher;

- B (Good) if its total score is from 70 points to under 80 points;

- C (Fair) if its total score is from 60 points to under 70 points;

- D (Poor) if its total score is under 60 points.

Note: The rating assigned to a people’s credit fund will be downgraded to a lower rating if it has 1 criterion or more, or 2 or more sub-criteria of any criterion, given “0” point.

Also according to Circular No. 42/2016/TT-NHNN, within 05 days from the receipt of credit rating results approved by SBV’s Governor, SBV’s provincial branches and offices of SBV Banking Supervision Agency shall notify such credit rating results to each of local people’s credit funds.

View the form of report on credit rating results of people’s credit funds at Circular No. 42/2016/TT-NHNN of the State Bank of Vietnam, effective from May 01, 2017.

- Thanh Lam -

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