Vietnam: Conversion of refinancing loans into special loans
On January 26, 2018, the State Bank of Vietnam issued Circular No. 01/2018/TT-NHNN, which specifies the conversion of refinancing loans into special loans.
Article table of contents
According to Circular No. 01/2018/TT-NHNN of the State Bank of Vietnam (SBV), since the SBV places the credit institution under special control, refinancing loans granted to that credit institution may be converted into special loans as follows:
- If the refinancing loan is not due, the principal and interest of such refinancing loan shall be converted into special loan; the due date and interest rate of the special loan shall be those of the refinancing loan;
- If the refinancing loan is overdue, the overdue principal and the outstanding balance of late payment interest of such refinancing loan shall be converted into the special loan; the interest rate on the overdue principal of the special loan shall be that of the refinancing loan.
Concurrently, Circular No. 01/2018/TT-NHNN also stipulates that the conversion of refinancing loans into special loans is specified in the Decision of the SBV placing the credit institution under special control.
View details at Circular No. 01/2018/TT-NHNN of the State Bank of Vietnam, effective from January 29, 2018.
-Thao Uyen-
- Key word:
- Circular No. 01/2018/TT-NHNN
- Special cases applying the standards for professional titles upon the appointment of leading officials in Vietnam
- Standards for the title of Head of the Department and equivalent under the Ministry in Vietnam as of May 1, 2024
- Standards for appointment of Director General and equivalent in Vietnam as of May 1, 2024
- What are cases of resigning from positions in the forces participating in the protection of security and order at the grassroots level in Vietnam?
- The Ministry of Health to rectify the quality of hospitals and warn of the risk of medical incidents in Vietnam
- The Ministry of Industry and Trade of Vietnam's announcement of the base prices of popular petroleum products on the market on April 25, 2024
-
- Special cases applying the standards for professional ...
- 20:06, 30/04/2024
-
- Standards for the title of Head of the Department ...
- 20:07, 29/04/2024
-
- Standards for appointment of Director General ...
- 10:07, 28/04/2024
-
- Notable documents of Vietnam in the previous week ...
- 16:44, 27/04/2024
-
- What are cases of resigning from positions in ...
- 09:07, 27/04/2024
