Circular No. 12/2020/TT-NHNN amending Circular 05/2020/TT-NHNN on refinancing for Bank for Social Policies

  • Summary
  • Content
  • Status
  • Vietnamese
  • Download
Save

Please log in to use this function

Send link to email

Please log in to use this function

Error message
Font size:

ATTRIBUTE

Circular No. 12/2020/TT-NHNN dated November 11, 2020 of the State Bank of Vietnam on amending and supplementing a number of articles of the Circular No. 05/2020/TT-NHNN dated May 07, 2020, on refinancing for the Vietnam Bank for Social Policies according to the Prime Minister’s Decision No. 15/2020/QD-TTg dated April 24, 2020, on providing regulations on the implementation of policies to support people facing difficulties due to the COVID-19 pandemic
Issuing body: State Bank of VietnamEffective date:
Known

Please log in to a subscriber account to use this function.

Don’t have an account? Register here

Official number:12/2020/TT-NHNNSigner:Nguyen Thi Hong
Type:CircularExpiry date:Updating
Issuing date:11/11/2020Effect status:
Known

Please log in to a subscriber account to use this function.

Don’t have an account? Register here

Fields:Finance - Banking , Medical - Health , Policy

SUMMARY

To extend the refinancing disbursement time limit to support people facing difficulties due to COVID-19

On November 11, 2020, the State Bank of Vietnam issues the Circular No. 12/2020/TT-NHNN on amending and supplementing a number of articles of the Circular No. 05/2020/TT-NHNN dated May 07, 2020, on refinancing for the Vietnam Bank for Social Policies according to the Prime Minister’s Decision No. 15/2020/QD-TTg dated April 24, 2020, on providing regulations on the implementation of policies to support people facing difficulties due to the COVID-19 pandemic.

Accordingly, to extend the duration of refinancing disbursement, which starts from the date of signing in the first debt agreement until the end of January 31, 2021 instead of July 31, 2020 as in previous regulations. In addition, at the due time of the refinancing loan, the Vietnam Bank for Social Policies must pay all principal debt for the refinancing loan which is disbursed under Clause 4, Article 6 of this Circular from the payment of the employers borrowing capitals according to the Decision No. 15/2020/QD-TTg and the Decision No. 32/2020/QD-TTg to the State Bank.

Until the end of January 31, 2021 (July 31, 2020 according to the previous regulations), if the Vietnam Bank for Social Policies fails to disburse all amounts received to disburse according to Clause 4, Article 6 of this Circular, before February 10, 2021 (instead of August 15, 2020 as in the previous regulations), the Vietnam Bank for Social Policies must pay the remaining amounts that has not been fully disbursed in the order from the debt agreement with outstanding loan signed at the earliest time to the State Bank.

Besides, the State Bank also decides to extend the reporting time to before February 20, 2021 (06 months later than the time limit specified in the previous regulations), the Vietnam Bank for Social Policies shall send a paper report on the disbursed refinancing loan data to the State Bank Governor.

This Circular takes effect on November 11, 2020.

For more details, click here.
Download files here.
LuatVietnam.vn is the SOLE distributor of English translations of Official Gazette published by the Vietnam News Agency
Effect status: Known

THE STATE BANK OF VIETNAM

__________

No. 12/2020/TT-NHNN

THE SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

__________________________

Hanoi, November 11, 2020

 

CIRCULAR

On amending and supplementing a number of articles of the Circular No. 05/2020/TT-NHNN dated May 07, 2020, on refinancing for the Vietnam Bank for Social Policies according to the Prime Minister’s Decision No. 15/2020/QD-TTg dated April 24, 2020, on providing regulations on the implementation of policies to support people facing difficulties due to the COVID-19 pandemic

______________________

 

Pursuant to the Law on State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2010 and the Law on amending and supplementing a number of Articles of the Law on Credit Institutions dated November 20, 2017;

Pursuant to the Government’s Decree No. 16/2017/ND-CP dated February 17, 2017 on defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

Pursuant to the Government’s Decision No. 15/2020/QD-TTg on providing regulations on the implementation of policies to support people facing difficulties due to the COVID-19 pandemic and the Decision No. 32/2020/QD-TTg dated October 19, 2020 on amending and supplementing a number of articles of the Decision No. 15/2020/QD-TTg;

At the proposal of the Director of the Monetary Policy Department;

The Governor of the State Bank hereby promulgates the Circular on amending and supplementing a number of articles of the Circular No. 05/2020/TT-NHNN dated May 07, 2020, on refinancing for the Vietnam Bank for Social Policies according to the Prime Minister’s Decision No. 15/2020/QD-TTg dated April 24, 2020, on providing regulations on the implementation of policies to support people facing difficulties due to the COVID-19 pandemic (hereinafter referred to as the Circular No. 05/2020/TT-NHNN).

 

Article 1. To amend and supplement a number of articles of the Circular No. 05/2020/TT-NHNN

1. To amend and supplement Article 1 as follows:

Article 1. Scope of regulation and subjects of application

This Circular prescribes the refinancing of the State Bank of Vietnam (hereinafter referred to as the State Bank) for the Vietnam Bank for Social Policies in order to lend the employers to pay job-stopping wages according to the Prime Minister’s Decision No. 15/2020/QD-TTg dated April 24, 2020 on providing regulations on the implementation of policies to support people facing difficulties due to the COVID-19 pandemic (hereinafter referred to as the Decision No. 15/2020/QD-TTg) and the Decision No. 32/2020/QD-TTg dated October 19, 2020 on amending and supplementing a number of articles of the Prime Minister’s Decision No. 15/2020/QD-TTg dated April 24, 2020 on providing regulations on the implementation of policies to support people facing difficulties due to the COVID-19 pandemic (hereinafter referred to as the Decision No. 32/2020/QD-TTg).”.

Click download to see the full text

Please log in to a subscriber account to see the full text. Don’t have an account? Register here
Please log in to a subscriber account to see the full text. Don’t have an account? Register here
Processing, please wait...
LuatVietnam.vn is the SOLE distributor of English translations of Official Gazette published by the Vietnam News Agency

ENGLISH DOCUMENTS

LuatVietnam's translation
Circular 12/2020/TT-NHNN DOC (Word)

This utility is available to subscribers only. Please log in to a subscriber account to download. Don’t have an account? Register here

Circular 12/2020/TT-NHNN PDF

This utility is available to subscribers only. Please log in to a subscriber account to download. Don’t have an account? Register here

* Note: To view documents downloaded from LuatVietnam.vn, please install DOC, DOCX and PDF file readers
For further support, please call 19006192

SAME CATEGORY

Circular No. 11/2020/TT-NHNN dated November 02, 2020 of the State Bank of Vietnam on amending and supplementing a number of articles of the Circular No. 24/2017/TT-NHNN dated December 29, 2017 of the Governor of the State Bank of Vietnam, guiding the order and procedures for revocation of licenses and liquidation of assets of credit institutions and foreign bank branches; the order and procedures for revocation of licenses of representative offices of foreign credit institutions and other foreign institutions engaged in banking activities

Circular No. 11/2020/TT-NHNN dated November 02, 2020 of the State Bank of Vietnam on amending and supplementing a number of articles of the Circular No. 24/2017/TT-NHNN dated December 29, 2017 of the Governor of the State Bank of Vietnam, guiding the order and procedures for revocation of licenses and liquidation of assets of credit institutions and foreign bank branches; the order and procedures for revocation of licenses of representative offices of foreign credit institutions and other foreign institutions engaged in banking activities

Finance - Banking

loading