Circular 82/2019/TT-BTC amend Circular 89/2014/TT-BTC loan interest rate support

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ATTRIBUTE

Circular No. 82/2019/TT-BTC dated November 15, 2019 of the Minister of Finance on amending and supplementing a number of Articles of the Circular No. 89/2014/TT-BTC dated July 07, 2014, providing guidelines on loan interest rate support and interest rate difference subsidies due to the implementation of supportive policies to reduce losses in agriculture
Issuing body: Ministry of FinanceEffective date:
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Official number:82/2019/TT-BTCSigner:Huynh Quang Hai
Type:CircularExpiry date:Updating
Issuing date:15/11/2019Effect status:
Known

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Fields:Agriculture - Forestry , Finance - Banking

SUMMARY

Not to support interest rate, subsidize interest rate difference for the overdue principle balance

On November 15, 2019, the Minister of Finance promulgates the Circular No. 82/2019/TT-BTC on amending and supplementing a number of Articles of the Circular No. 89/2014/TT-BTC dated July 07, 2014, providing guidelines on loan interest rate support and interest rate difference subsidies due to the implementation of supportive policies to reduce losses in agriculture.

Accordingly, provisions on conditions to receive interest rate support and subsidy on interest rate difference also is supplemented. Specifically, if loans is overdue for a part of principal balance, customer shall not be entitled to interest rate support and interest rate difference subsidies with the overdue principal balance from the time of arising overdue debt. The principle balance that is not overdue according to regulations shall continue to be entitled to interest rate support and interest rate difference subsidies in accordance with the Decision No. 68/2013/QD-TTg.

In addition, the Ministry of Finance also supplement provision on reporting methods. To be specific: Commercial banks shall send written reports to the Ministry of Finance. Formula to calculate the amount of subsidized difference in interest on a loan which is supported by the State is also amended and supplemented.

This Circular takes effect on December 30, 2019.

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Effect status: Known

THE MINISTRY OF FINANCE

-----------

No. 82/2019/TT-BTC

THE SOCIALIST REPUBLIC OF VIETNAM

Independence – Freedom - Happiness

---------------

Hanoi, November 15, 2019

 

CIRCULAR

Amending and supplementing a number of Articles of the Circular No. 89/2014/TT-BTC dated July 07, 2014, providing guidelines on loan interest rate support and interest rate difference subsidies due to the implementation of supportive policies to reduce losses in agriculture

---------------

Pursuant to the Government’s Decree No. 163/2016/ND-CP dated December 21, 2016, detailing a number of Articles of the Law on State Budget;

Pursuant to the Government’s Decree No. 87/2017/ND-CP of July 26, 2017 on defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

Pursuant to the Prime Minister’s Decision No. 68/2013/QD-TTg dated November 14, 2013 on supportive policies on reduction of post-harvest losses in agriculture

At the request of the Director of the Department of Banking and Financial Institutions;

The Minister of Finance hereby promulgates the Circular on amending and supplementing a number of Articles of the Circular No. 89/2014/TT-BTC dated July 07, 2014, providing guidelines on loan interest rate support and interest rate difference subsidies due to the implementation of supportive policies to reduce losses in agriculture.

Article 1. To amend and supplement a number of Articles of the Circular No. 89/2014/TT-BTC dated July 07, 2014, providing guidelines on loan interest rate support and interest rate difference subsidies due to the implementation of supportive policies to reduce losses in agriculture as follows:

1. To amend Point 2.2 Clauses 2, Article 3 as follows:

2.2. The loans are punctuality paid at the time of provision of interest rate support and subsidy on interest rate difference; overdue loans shall not receive interest rate support and subsidy on interest rate difference from the due date. If loans is overdue for a part of principal balance, customer shall not be entitled to interest rate support and interest rate difference subsidies with the overdue principal balance from the time of arising overdue debt. The principle balance that is not overdue according to regulations shall continue to be entitled to interest rate support and interest rate difference subsidies in accordance with the Decision No. 68/2013/QD-TTg”.

2. To amend Item a Point 4.1 Clauses 4, Article 5 as follows:

a) The amount of supported interest on a loan is calculated using the formula below (multiply of the interest rate support with loan balance and the loan duration that is supported):

 
 

Actual supported interest

=

n

i=1

Supported interest rate of a year

 

 

x

 

Sum of products of loan balance (corresponding to interest rate in the same period) and number of days of loan balance in a year

365

 

Where:

- The concessional interest rate is prescribed in Clause 1 Article 4 of this Circular and expressed as %/year.

- n is the number of supported loaning days in the period.”

3. To amend Item a Point 4.2 Clauses 4, Article 5 as follows:

a) The amount of subsidized difference in interest on a loan is calculated using the formula below (multiply of the interest rate difference subsidies with loan balance and the loan duration that is subsidized):

Actual subsidized difference in interest

=

n

i=1

Subsidized difference in interest rates of a year

 

 

x

 

Sum of products of loan balance (corresponding to interest rate in the same period) and number of days of loan balance in a year

365

 

Where:

- The subsidized difference in interest rates is prescribed in Clause 1 Article 4 of this Circular and expressed as %/year.

- n is the number of supported days in the period.

4. To amend Article 6 as follows:

“Article 6. Reporting

1. Commercial banks shall make annual and quarterly reports on results of the implementation of loan interest rate support and interest rate difference subsidies of policies on reducing losses in agriculture of the whole system in accordance with this Circular, include:

a) Quarterly reports:

Every quarter, commercial banks shall collect figures about interest rate support and interest rate difference subsidies of policies on reduction of agricultural loses of the whole system according to  Appendices No. 05 and 06 attached to this Circular and send to the Ministry of Finance.

b) Annual reports:

Every year, commercial banks shall send annual report to the Ministry of Finance, including:

- The temporary interest rate support and subsidy on interest rate difference provided in the year.

- The actual interest rate support and interest rate difference to be subsidized in the whole year.

- The application for statement prescribed in Point 5.2 Clause 5 Article 5 of this Circular.

2. Reporting time limit

a) Time limit for sending a quarterly report: Within 30 days from the end of the quarter.

b) Time limit for sending an annual report: Within 90 days from the end of the fiscal year.

3. Method of reporting:

Commercial banks shall send written reports to the Ministry of Finance”.

Article 2. Organization of implementation

1. This Circular takes effect on December 30, 2019.

2. Any difficulties that arise during the implementation of this Circular should be reported to the Ministry of Finance for consideration and settlement./.

 

 

FOR THE MINISTER

THE DEPUTY MINISTER

 

 

 

Huynh Quang Hai

 

 

 

Appendix No. 05

 

COMMERCIAL BANK’S NAME

 

REPORT ON THE LOAN INTEREST RATE SUPPORT

(Quarter)

(Attached to the Circular No. 82/2019/TT-BTC dated November 15, 2019 of the Ministry of Finance)

 

Unit: VND

Name

Loan balance at the beginning of the period

Arising in the period

Loan balance at the end of the period

The amount of interest rate support arising in the period

Amount of recovered interest rate support in the period

Accumulated to the end of the reporting period

Loan

Debt collection

100% interest rate

50% interest rate

100%  interest rate

50%  interest rate

The amount of interest rate support

Amount of recovered interest rate support

1. Branch

 

 

 

 

 

 

 

 

 

 

2. Branch

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

* Note:

Accumulated amount from the beginning of the loan program.

 

 

 

Date.... month....year

SCHEDULER

CONTROLLER

GENERAL DIRECTOR

(Signed and stamped)

 

 

 

 

Appendix No. 06

 

COMMERCIAL BANK’S NAME

 

REPORT ON THE LOAN INTEREST RATE DIFFERENCE SUBSIDIES

(Quarter)

(Attached to the Circular No. 82/2019/TT-BTC dated November 15, 2019 of the Ministry of Finance)

 

Unit: VND

Name

Loan balance at the beginning of the period

Arising in the period

Loan balance at the end of the period

Amount of interest rate difference subsidies

Amount of recovered interest rate difference subsidies

Loan

Debt collection

Arising in the period

Accumulated to the end of the reporting period

Arising in the period

Accumulated to the end of the reporting period

1. Branch

 

 

 

 

 

 

 

 

2. Branch

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

* Note:

Accumulated amount from the beginning of the loan program.

 

 

Date.... month....year

SCHEDULER

CONTROLLER

GENERAL DIRECTOR

(Signed and stamped)

 
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