Vietnam: What is the lending limit of the people's credit fund?

16:45, 03/01/2016

This is a notable content of Circular No. 32/2015/TT-NHNN regulating limits and safety ratios in the operations of people's credit funds that was issued on December 31, 2015 by the State Bank of Vietnam.

According to Circular No. 32/2015/TT-NHNN of the State Bank of Vietnam, for loans to the subjects specified in this Circular, people's credit funds must ensure the following requirements:

- The total loan balance must not exceed 5% of the people's credit fund's equity capital;

- Lending must be approved by the Board of Directors and must be publicized in the people's credit fund;

- Report to the Bank Inspection and Supervision Department where the People's Credit Fund's headquarters is located, and the State Bank branches in provinces and cities where there is no Bank Inspection and Supervision Department when a loan arises;

- Report to the General Meeting of Members on loans arising up to the time of collecting data for the General Meeting of Members.

View detailed loan limit of people's credit funds at Circular No. 32/2015/TT-NHNN of the State Bank of Vietnam, effective from March 01, 2016.

- Khanh Chi -

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