Circular No.03/2009/TT-NHNN dated March 02, 2009 of the State Bank of Vietnam regulation on provision loan secured by the mortgage of valuable papers by the State Bank of Vietnam to banks

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Circular No.03/2009/TT-NHNN dated March 02, 2009 of the State Bank of Vietnam regulation on provision loan secured by the mortgage of valuable papers by the State Bank of Vietnam to banks
Issuing body: State Bank of VietnamEffective date:
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Official number:03/2009/TT-NHNNSigner:Nguyen Dong Tien
Type:CircularExpiry date:
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Issuing date:02/03/2009Effect status:
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Fields:Finance - Banking
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STATE BANK OF VIETNAM
-----------

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom – Happiness
-----------------

No. 03/2009/TT-NHNN

Hanoi, March 02, 2009

 

CIRCULAR

 

REGULATION ON PROVISION LOAN SECURED BY THE MORTGAGE OF VALUABLE PAPERS BY THE STATE BANK OF VIETNAM TO BANKS

- Pursuant to the Law on the State Bank of Vietnam issued in 1997; the Law on the amendment, supplement of several articles of the Law on the State Bank of Vietnam issued in 2003;

- Pursuant to the Law on Credit Institutions issued in 1997; the Law on the amendment, supplement of several articles of the Law on Credit Institutions issued in 2004;

- Pursuant to the Decree No. 96/2008/ND-CP dated 26/8/2008 of the Government providing for the functions, duties, authorities and organizational structure of the State Bank of Vietnam;

Hereby, the State Bank of Vietnam provides for the lending secured by the mortgage of valuable papers by the State Bank of Vietnam to banks as follows:

 

Section 1.

GENERAL PROVISIONS

 

Article 1. Governing scope

This Regulation provides for the short term lending in Vietnamese Dong (VND) by the State Bank of Vietnam to credit institutions being banks and non-banking credit institutions upon the authorization by the Prime Minister (hereinafter referred to as banks) in the form of security by the mortgage of valuable papers in order to supply short term capital and means of payment to banks.

 

Article 2. Interpretation

In this Circular, following terms shall be construed as follows:

1. Lending secured by the mortgage of valuable papers (hereinafter referred to as mortgage lending) shall be a form of loan provision made by the State Bank of Vietnam (hereinafter referred to as the State Bank) to banks on the basis of the mortgage of valuable paper owned by the banks to secure the debt repayment obligation.

2. Mortgage of valuable paper means the State Bank keeps the original valuable paper, or requires a bank to transfer the valuable paper to its account opened at the Securities Exchange Center to secure the debt repayment obligation for one or more mortgaged loans of that bank at the State Bank.

3. Interest rate of the mortgage lending shall be the refinancing interest rate, which is applied to mortgage lending by the State Bank to banks and announced by the State Bank from time to time.

4. Remaining period of valuable paper shall be the period of time from the date where the State Bank disburses the mortgaged loan for the bank to the maturity date of that valuable paper.

 

Article 3. Subjects entitled to mortgage loan from the State Bank

1. Banking Credit Institutions, which are established and operate in accordance with provisions of the Law on Credit Institutions.

2. Non-banking Credit Institutions, which are authorized by the Prime Minister.

 

Article 4. Principles of mortgage lending

The mortgage lending by the State Bank to banks shall be implemented under following principles:

1. The mortgage loan is secured by valuable paper which is qualified in line with provisions in Article 7 of this Circular;

2. Mortgage lending secured by valuable paper aims at supplying short term capital and means of payment for banks which are temporarily short of liquidity;

3. Banks provided with mortgage loans shall be obliged to make full payment of the loan (both principal and interest) to the State Bank at the due time.

 

Article 5. Mode of mortgage lending

1. Direct mode: Banks shall directly transact with the State Bank.

2. Indirect mode: Banks shall transact via internet connected computer network under the guidance of the State Bank.

 

Article 6. Grant of code, key and electronic signature

The State Bank shall grant code, key and electronic signature to representative of banks for transaction via internet connected computer network with the State Bank in market transactions for the purpose of security.

 

Article 7. Valuable paper to be mortgaged

1. Standards of valuable paper to be mortgaged:

a. To be issued in Vietnamese Dong (VND);

b. To be authorized to transfer;

c. Its remaining period is equal to the borrowing period at the minimum;

d. The valuable paper must be subject to the legal ownership of the borrowing bank.

2. List, order of priority of valuable papers used for the mortgage for loan and the rate between value of the valuable paper and amount of the loan mortgaged at the State Bank shall be determined by the Governor of the State Bank from time to time.

3. The State Bank shall only approve to provide loan mortgaged by valuable papers of level 2 and other types of valuable papers in the event where the borrowing bank does not own or has already used up all the types of valuable papers of level 1 in monetary transactions at the borrowing time.

 

Article 8. Value of the valuable paper used as a security asset for the mortgage loan

1. Value of the valuable paper used as a security asset for the mortgage loan shall be the total issued value of the valuable paper calculated according to the face value.

2. The security rate of the value of the valuable paper over the amount of the mortgage loan shall be provided for by the Governor of the State Bank from time to time.

 

Section II.

SPECIFIC PROVISIONS

 

Article 9. Conditions of mortgage lending

The State Bank of Vietnam shall consider and decide on provision of mortgage loan to banks when they satisfy fully following conditions:

1. They are banks stated in Article 3 of this Circular and not are put in the special control;

2. They have valuable paper qualified for mortgage as prescribed in Article 7 of this Circular;

3. They have an application file for mortgage loan from the State Bank in compliance with provisions in Article 14 of this Circular;

4. They have no overdue outstanding debt at the State Bank at the time of borrowing;

5. They have made a commitment on using the mortgage loan for the due purpose and repayment of the debt (both principal and interest) to the State Bank at the due time.

 

Article 10. Period of mortgage lending

1. The State Bank provide mortgage loan to banks within a maximum period of one year (365 days). The period of mortgage lending shall include non-business days, public holidays, Tet holidays. In the event where the payment date falls on a non-business day, public holiday, Tet holiday, the lending period shall be extended to the following working day.

2. Based on the borrowing purpose of the bank, the State Bank shall decide the lending period, term of debt collection in specific cases.

3. In special cases, the State Bank may consider extending the mortgage loan, providing that the extended period shall not exceed the first lending period.

 

Article 11. Interest rate of mortgage loan

1. Interest rate of mortgage loan to banks shall be refinancing interest rate applied by the State Bank in providing mortgage loan to banks at the disbursement time of the loan and remain in full force during the lending period.

2. Where the outstanding of the mortgage loan is classified as overdue debt, the bank shall be subject to overdue interest rate, which is equivalent to 150% of the lending interest rate stated in the credit contract.

 

Article 12. Level of mortgage lending

1. Based on the monetary targets, polices from time to time, demand for loan capital, value of the valuable paper used as security asset and outstanding debt of other loans of a bank at the State Bank, the State Bank shall determine the level of mortgage lending to the borrowing bank.

2. The maximum lending level shall not exceed the value of the secured valuable paper to be converted in accordance with provisions of the State Bank.

 

Article 13. Competence to take part in mortgage borrowing operation

1. General Manager (Manager) of the bank shall be the competent person to sign on the documents for taking part in the mortgage borrowing operation at the State Bank.

2. General Manager (Manager) of the bank may authorize the Deputy General Manager (Deputy Manager) to sign on the documents participating in the mortgage borrowing operation at the State Bank in line with provisions of applicable laws and shall be responsible for such authorization. The authorized person shall not be permitted to reauthorize a third person.

 

Article 14. Application file for mortgage loan

Upon having a demand for mortgage loan at the State Bank, the borrowing bank shall send an application file for mortgage loan to the State Bank, including:

1. An application for mortgage loan at the State Bank (in accordance with Form 01/NHNN-CC);

2. List of valuable papers proposed to mortgage for borrowing at the State Bank with the confirmation of the issuer, issuing agent or depository organization (in accordance with Form 02/NHNN-CC);

3. Several norms of capital source and use of capital by the bank in accordance with Form 03/NHNN0CC; the transaction performance of the bank with the State Bank in accordance with Form 04/NHNN-CC; Calculation sheet of the demand for loan capital in VND from the State Bank in accordance with Form 05/NHNN-CC;

4. The latest Balance Sheet of the bank.

 

Article 15. Approving and refusing the application for mortgage loan of bank

1. Based on the application file for mortgage loan of the bank, the State Bank shall consider the application for loan of the bank and, within a maximum period of 02 working days since the full receipt of the valid application file for mortgage loan as provided for in Article 14 of this Circular, the State Bank shall give a written notice to the borrowing bank on the approval (in accordance with Form 06a/NHNN-CC) or disapproval to the mortgage loan (in accordance with Form 06b/NHNN-CC) and to related units.

2. The State Bank shall not consider the application for mortgage loan of a bank when that bank fails to fully satisfy conditions as stated in Article 9 of this Circular.

 

Article 16. Delivery, receipt and return of valuable paper as a mortgage asset

1. Upon the receipt of the notice on the approval to the mortgage loan of the State Bank, the borrowing bank shall be required to transfer valuable papers as a mortgage asset to the State Bank.

2. The State Bank shall carry out the mortgage of valuable papers in conformity with the list of valuable papers that has already been approved, sign credit contract and carry out the disbursement in accordance with applicable provisions.

In case where the borrowing bank has a demand for replacing the valuable papers which are being mortgaged at the State Bank with other valuable papers which are qualified and belong to the list of valuable papers authorized to use as mortgage for loan, the borrowing bank must have a written explanation for that replacement and the State Bank shall consider and decide in specific cases.

3. Where the bank has made full payment for both loan principal and interest, the State Bank shall return the valuable papers used as mortgage asset to the bank.

 

Article 17. Provision of mortgage loan

1. The provision of mortgage loan to bank shall be performed at the Banking Operation Department of the State Bank.

The Bank Operation Department of the State Bank shall, basing on the file of approval to mortgage loan ratified by the Governor of the State Bank, carry out the procedures of receiving mortgage asset, sign credit contract with the said bank and transfer the loan amount to the deposit account of that bank at the State Bank.

2. Where it is necessary, the Governor of the State Bank may authorize the Manager of State Bank branches in provinces, cities under the Central Government’s Management to perform the mortgage lending to banks whose head office is located in the local area. Process of mortgage lending at the State Bank branches in provinces, cities shall be the same to that at the Banking Operation Department of the State Bank.

 

Article 18. Repayment of mortgage loan

1. Upon the maturity of the debt, banks shall make payment for both principal and interest of the mortgage loan to the State Bank and take back the valuable paper.

2. In the event where at the maturity of the debt (principal or interest), the bank fails to make payment, then the State Bank shall take some measures for compulsory debt collection (principal and interest) as follows:

a. To deduct from the deposit account of that bank at the State Bank for debt collection;

b. To collect debt from other sources (if any) of that bank.

3. In case after making deduction from the deposit account for debt collection and collection from other sources of the borrowing bank, it is not sufficient to collect the full debt, the State Bank shall classify the outstanding debt as overdue and apply overdue interest rate. The State Bank may sell or make payment with the issuer of the valuable paper mortgaged in the monetary market for collecting the overdue debt of the borrowing bank.

 

Article 19. Responsibilities of the borrowing bank

1. To fully, timely supply files, documents as stipulated in this Circular and take responsibility to the law for the accuracy, legality of the data, documents supplied to the State Bank.

2. To comply with commitments made with the State Bank at the time of borrowing regarding the use of loan fund for due purpose, full repayment of the debt, including both principal and interest, at the due date.

3. To fully transfer the valuable papers used as mortgage asset and take back the entire mortgage asset after the debt has been fully paid (principal and interest) to the State Bank.

4. To be subject to the inspection, control of the State Bank during the borrowing time.

 

Section Iii.

ORGANIZATION OF IMPLEMENTATION

 

Article 20. Responsibilities of units of the State Bank

 

1. The Monetary Policy Department

a. To preside over, coordinate with related units in the determination of the level of money supply for quarterly, annual refinancing objective, including the refinancing with the mortgage of valuable paper, to submit to the Governor of the State Bank for approval and give notice to related units.

b. To act as an advisor for the Governor of the State Bank in the determination and announcement of refinancing interest rate as a basis for application to valuable paper mortgage operation.

c. To coordinate with related units to solve difficulty, query arising in the performance of mortgage lending.

 

2. The Credit Department

a. To receive and appraise application file for mortgage loan of banks.

b. To submit the Governor of the State Bank for approval to the application for loan mortgaged by valuable paper of banks, to authorize State Bank branches in provinces, cities under the Central Government’s management to perform (if any) and give notice to the borrowing bank on the approval or disapproval to mortgage loan.

c. To send the file approved by the Governor of the State Bank to the Banking Operation Department for performing the mortgage lending.

d. To preside over, coordinate with related units to solve difficulty, query arising in the performance of mortgage lending.

dd. To summary and make monthly, quarterly, annual report on the performance of mortgage lending in the Banking Operation Department of the State Bank and State Bank Branches in provinces, cities under the Central Government’s management to the Governor of the State Bank.

e. To submit the Governor of the State Bank, from time to time, for approval to the list, order of priority of valuable papers used in the mortgage lending operation and the rate between the value of valuable paper and amount of the mortgage loan.

 

3. The Banking Operation Department of the State Bank

a. Based on the application file for mortgage loan which has been approved by the Governor of the State Bank, to perform the mortgage lending and mortgage of valuable paper, collect loan principal and interest in accordance with provisions of this Circular.

b. To organize the delivery, receipt, keeping and preservation of mortgage asset, files and documents, to return valuable paper and perform accounting of the mortgage loan.

c. To coordinate with related units to solve difficulty, query arising in the performance of mortgage lending.

d. To summary data of mortgage loans arising at the Banking Operation Department on a monthly, quarterly, annual basis, to timely detect difficulty, query in the implementation and send to the Credit Department for generally reporting to the Governor of the State Bank.

dd. To deposit valuable paper which is used for mortgage of borrowing at the State Bank in accordance with applicable provisions, to confirm the deposition of valuable paper of the borrowing bank with respect to the case where the borrowing bank has been depositing valuable paper at the State Bank.

e. To provide guidance on the process of mortgage lending performance by the State Bank to banks.

 

4- The Finance and Accounting Department shall provide guidance on the accounting relating to the mortgage lending operation.

5. Informatics Technology Department

a. To install software programs and ensure the infrastructure of the communication network for mortgage lending to be stable, safe and confidential.

b. To provide for code number, key, electronic signature to persons participating in the mortgage operation of the State Bank and banks.

 

Article 21. State Bank Branches in provinces, cities under the Central Government’s management

 

1. To perform mortgage lending to banks whose head office is located in the local area upon the authorization of the Governor of the State Bank.

 

2. To organize the delivery, receipt, keeping, preservation of mortgage asset, files, documents, to return valuable paper and perform accounting for the mortgage lending in accordance with applicable provisions.

 

3. On a monthly, quarterly and annual basis, to consolidate information, data of mortgage loans arising at the branch, to timely detect difficulties, queries in the implementation to send to the Credit Department for general report to the Governor of the State Bank.

 

Article 22. Implementation effectiveness

1. This Circular shall be effective after 45 days since its signing date and replace the Decision No.1452/2003/QD-NHNN dated 03/11/2003 of the Governor of the State Bank on the issuance of the Regulation on lending secured by the mortgage of valuable papers by the State Bank to banks, the Decision No. 94/2004/QD-NHNN dated 02/01/2004 of the Governor of the State Bank on the amendment of several Articles of the Regulation on the lending secured by the mortgage of valuable paper by the State Bank to banks issued in conjunction with the Decision No.1452/2003/QD-NHNN dated 03/11/2003 of the Governor of the State Bank and Paragraph 2 Article 1 of the Decision No.1909/QD-NHNN dated 30/12/2005 of the Governor of the State Bank on the use of several types of bonds, by the credit institutions, in refinancing transactions of the State Bank.

2. Any mortgage loan which is still outstanding until the effective date of this Circular shall still be implemented in accordance with the signed credit contract until the State Bank collects the full debt.

3. Director of the Administrative Department, Director of the Credit Department and Heads of units of the State Bank of Vietnam, Manager of State Bank Branches in provinces, cities under the Central Government’s management; Board of Directors, General Manager (Manager) of credit institutions shall be responsible for the implementation of this Circular.

 

 

FOR THE GOVERNOR OF THE STATE BANK OF VIETNAM
DEPUTY GOVERNOR




Nguyen Dong Tien

 

 

Form 01/NHNN-CC

 

Name (address, logo) of applicant bank
---------

SOCIALIST REPUBLIC OF VIETNAM
Independence – Freedom – Happiness
------------------

Number of document

…, date……

 

APPLICATION FOR LOAN

IN THE FORM OF LENDING SECURED BY THE MORTGAGE OF VALUABLE PAPER

To: The State Bank of Vietnam (Credit Department)

 

Name of the bank: Bank…

Address:

Telephone:                                            fax:

Code:

Number of the VND deposit account: ….. opened at the State Bank….

Pursuant to the Circular No../…/TT-NHNN dated …/../… of the Governor of the State Bank providing for the lending secured by the mortgage of valuable paper by the State Bank to banks;

Based on the situation of the capital sources and use of capital, ability of balancing the capital sources and volume of valuable papers being held,

Bank… hereby would like to propose the State Bank of Vietnam to provide loan secured by the mortgage of valuable paper with following contents:

1. Amount proposed to borrow: (in number)… dong, (in words)…. dong.

2. Purpose of borrowing:

3. Period of borrowing:

4. Loan security asset: (Treasury bill, Treasury bond… with the total face value of … dong)

5. Mode of debt repayment: (Principal and interest shall be paid in one time at maturity)

Bank… undertakes that the information supplied hereinabove is truthful and commits to comply with current provisions on lending secured by the mortgage of valuable paper by the State Bank to banks.

 

 

General Manager
(or the authorized person)

 


Form 02/NHNN-CC

Bank….

 

LIST OF VALUABLE PAPERS PROPOSED FOR

MORTGAGE AT THE STATE BANK OF VIETNAM

Unit: 1 dong

 

Order

Type of valuable paper

Document number

Issuer

Mode of principal, interest payment

Date of issue

Face value

Interest rate

Maturity Date

Depository organization

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

(10)

I

Valuable paper of level 1

 

 

 

 

 

 

 

 

1

Treasury bond

TP1A2505

State Treasury

Principal and interest to be paid in one time at maturity, interest to be included into principal

25/8/2005

40,000,000,000

8.75%

25/08/2010

 

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

II

Valuable paper of level 2

 

 

 

 

 

 

 

 

1

 

 

 

 

 

 

 

 

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

…, date…

Confirmation of … (issuer, issuing agent or depository organization)

Drawer

Controller

General Manager
(or the authorized person)

 

Note:

 

I. Mode of principal and interest payment

1. Interest shall be paid immediately upon issuance

2. Principal, interest shall be paid in one time at maturity, interest shall not be included into principal

3. Principal, interest shall be paid in one time at maturity, interest shall be included into principal

4. Interest shall be paid periodically, principal shall be paid in one time at maturity

.


Bank….

Form 03/NHNN-CC

 

SEVERAL NORMS OF CAPITAL SOURCES AND USE OF CAPITAL IN VIETNAMESE DONG

Unit: billion dong

 

 

Order

Norm

Date

X

Y

Z

A

Capital source in VND

 

 

 

1

Mobilized capital

 

 

 

a

Without term and with term upto 12 months

 

 

 

b

More than 12 months

 

 

 

2

Deposit of State Treasury

 

 

 

a

Without term and with term upto 3 months

 

 

 

b

More than 3 months

 

 

 

3

Deposit/loan from other CIs

 

 

 

a

Without term and with term upto 3 months

 

 

 

b

More than 3 months

 

 

 

4

Loans from SBV

 

 

 

B

Use of capital in VND

 

 

 

1

Loan to the economy

 

 

 

2

Loan to/deposit at other CIs

 

 

 

a

Without term and with term upto 3 months

 

 

 

b

More than 3 months

 

 

 

3

Reserves

 

 

 

a

Cash in vault

 

 

 

b

Payment deposit at the SBV

 

 

 

c

Payment deposit at other CIs

 

 

 

4

Investment in valuable papers

 

 

 

a

Government bonds

 

 

 

b

SBV’s bills

 

 

 

c

Other valuable papers

 

 

 

c

Other investments

 

 

 

 

Note:    - X, Y means the final day of the two latest months.

            - Z means the latest day of submitting application file

 

Drawer

Controller

General Manager
(or the authorized person)


Bank…

Form 04/NHNN-CC

SITUATION OF TRANSACTION WITH THE STATE BANK

from ../../… to ../…/….

Unit: billion dong

 

Period

Opening outstanding debt

Number of transaction items in the period

Turnover of lending

Turnover of debt repayment

Closing outstanding debt

Overdue debt in the period

1

Discount of valuable paper

 

 

 

 

 

 

2

Mortgage of valuable paper

 

 

 

 

 

 

3

Overnight loan

 

 

 

 

 

 

4

OMO

 

 

 

 

 

 

4.1

Purchase of valuable paper

 

 

 

 

 

 

4.2

Sale of valuable paper

 

 

 

 

 

 

5

Lending under credit file

 

 

 

 

 

 

6

Foreign currency swap

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

Note:
1. For OMO operation, if valuable paper is sold to the SBV, the turnover of bid winning shall be accounted to lending turnover, if valuable paper is bought from the SBV, then the turnover of bid winning shall be accounted to the turnover of debt repayment.
2. Balance of selling valuable paper to the SBV shall be stated as positive (+) value
Balance of buying valuable paper from the SBV shall be stated as negative (-) value
3. Reporting period: current quarter.

Drawer

Controller

General Manager
(or the authorized person)


Bank….

Form 05/NHNN-CC

CALCULATION SHEET OF DEMAND FOR VND LOANS FROM THE STATE BANK

Unit: billion dong

Order

Norm

Up to 1 week/ 2 weeks…

I

Demand for the use of capital in VND

 

1

Credit disbursement to economic organizations, inhabitants under commitment

 

2

Credit disbursement to economic organizations, inhabitants not subject to commitment

 

3

Payment of deposit under schedule

 

4

Payment of deposit out of the schedule

 

5

Lending to branches or individuals with net cash withdrawal

 

6

Making payment for mature loans from/deposit from CIs

 

7

Making payment for mature debt of the SBV

 

II

Estimated ability of balancing capital source in VND

 

1

Deposit mobilized from the economy

 

2

Collecting mature credit debts from economic organizations, inhabitants

 

3

Collecting mature loans in the inter-bank market

 

4

Collecting loans from branches within CI

 

5

Investments in mature valuable papers

 

6

Loans in inter-bank market

 

III

Difference between the capital source and use of capital in VND

 

1

Estimated loans from the SBV through channels

 

a

Sale of valuable papers in the open market

 

b

Loan with valuable paper discount

 

c

Loan with valuable paper mortgage

 

d

Foreign currency swap

 

2

Estimated sale of foreign currency to the SBV

 

 

 

 

 

 

 

 

Drawer

Controller

General Manager
(or the authorized person)

 

Form 06a/NHNN-CC

state bank of vietnam
---------

socialist republic of vietnam
Independence - Freedom - Happiness
----------------------

No.: … /TB-NHNN

Hanoi, date…

NOTICE

ON THE APPROVAL TO THE LOAN SECURED BY THE MORTGAGE
OF VALUABLE PAPER BY THE STATE BANK OF VIETNAM TO THE BANK...............

To: Bank….

Pursuant to the Circular No../…/TT-NHNN dated …/../… of the Governor of the State Bank providing for the lending secured by the mortgage of valuable paper by the State Bank to banks;

After considering the Application file for mortgage loan by the Bank … enclosed with the Application for loan in the form of lending secured by the mortgage of valuable paper (dispatch No… dated../…/…), the State Bank hereby accepts to provide loan secured by the mortgage of valuable paper to the Bank… with following contents:

1. Amount of mortgage loan: … billion dong.

2. Interest rate of mortgage loan:

3. Period of mortgage loan: … days since the receipt of the loan.

4. Purpose of mortgage loan:

5. Mode of principal and interest payment:

6. Valuable paper used for mortgage:

7. Bank… shall perform borrowing, make repayment of the debt in compliance with provisions of the State Bank.

Authorized by the Governor, the Credit Department would like to inform the Good Bank for knowledge and implementation.

 

AUTHORIZED BY THE GOVERNOR
Director of the Credit Department

 

Form 06b/NHNN-CC

state bank of vietnam
---------

socialist republic of vietnam
Independence - Freedom - Happiness
--------------

No.: … /TB-NHNN

Hanoi, date…

NOTICE

ON THE DISAPPROVAL TO LOAN SECURED BY THE MORTGAGE
OF VALUABLE PAPER BY THE STATE BANK OF VIETNAM TO THE BANK...............

To: Bank….

Pursuant to the Circular No../…/TT-NHNN dated …/../… of the Governor of the State Bank providing for the lending secured by the mortgage of valuable paper by the State Bank to banks;

After considering the Application file for mortgage loan by the Bank … enclosed with the Application for loan in the form of lending secured by the mortgage of valuable paper (dispatch No… dated../…/…), the State Bank hereby refuses to provide loan secured by the mortgage of valuable paper to the Bank… with following reasons:

1.

2.

….

Authorized by the Governor, the Credit Department would like to inform the Good Bank for knowledge.

 

 

AUTHORIZED BY THE GOVERNOR
Director of the Credit Department

 

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