Vietnam: The refinancing term on the basis of special bonds is less than 01 year

15:03, 25/10/2015

Recently, the Governor of the State Bank of Vietnam issued Circular No. 18/2015/TT-NHNN on refinancing on the basis of special bonds of the Vietnam Credit Institutions Asset Management Company.

According to Circular No. 18/2015/TT-NHNN of the State Bank of Vietnam, the refinancing term on the basis of special bonds of Vietnam Credit Institutions Asset Management Company is less than 01 year but does not exceed the remaining term of the special bonds.

Thời hạn tái cấp vốn trên cơ sở trái phiếu đặc biệt, 18/2015/TT-NHNN

Refinancing interest rates:

- Refinancing interest rates for credit institutions shall be decided by the Prime Minister.

- The overdue refinancing interest rate is equal to 150% of the refinancing interest rate stated in the credit contract between the State Bank and the credit institution.

The State Bank shall consider and decide to extend refinancing for credit institutions, complying with the provisions of Article 4, Article 5 and Article 6 of this Circular. Each extension period does not exceed the initial refinancing term of that refinancing and does not exceed the remaining term of the special bond.

The order for considering refinancing and extending refinancing shall be implemented according to Article 9 of Circular No. 18/2015/TT-NHNN.

View relevant provisions at Circular No. 18/2015/TT-NHNN of the State Bank of Vietnam, effective from December 10, 2015.

Thu Ba

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