Decision No. 1380/2002/QD-NHNN dated December 16, 2002 of the State Bank on the cancellation of level of lending without asset security of credit institutions

Decision

ON THE CANCELLATION OF LEVEL OF LENDING WITHOUT ASSET SECURITY OF  CREDIT INSTITUTIONS

THE GOVERNOR OF THE STATE BANK

- Pursuant to the Law on the State Bank of Vietnam and the Law on the Credit Institutions dated 12 December, 1997;

- Pursuant to the Decree No. 15 CP dated 2 March, 1993 of the Government on the assignment, authority and responsibility for the State management of the ministries, ministerial-level agencies;

- Pursuant to the paragraph 19 Article 1 of the Decision No. 85/2002/ND-CP dated 25 October, 2002 of the Government on the amendment, supplement of the Decree No. 178/1999/ND-CP dated 29 December, 1999 of the Government on the loan security of credit institutions;

- Upon the proposal of the Director of the Monetary Policy Department,

DECIDES

Article 1.To cancel following decisions of the Governor of the State Bank of Vietnam:

1. The Decision No. 991/2001/QD-NHNN dated 6 August, 2001 on the level of lending without asset security for the People credit Funds at all levels;

2. The Decision No. 992/2001/QD-NHNN dated 6 August, 2001 on the level of lending without asset security for joint-stock commercial banks, joint-stock finance companies and joint-venture banks;

3. The Decision No. 993/2001/QD-NHNN dated 6 August, 2001 on the level of lending without asset security for the State-owned commercial banks, branches of foreign banks in Vietnam, Finance Companies of State-owned General Corporations and the Bank for the Poor.

Article 2.Pursuant to the Decree No. 85/2002/ND-CP dated 25 October, 2002 of the Government on the amendment, supplement of the Decree No. 178/1999/ND-CP dated 29 December, 1999 of the Government on the loan security of credit institutions, the Decree No. 178/1999/ND-CP dated 29 December, 1999 of the Government on the loan security of credit institutions and documents guiding the implementation, credit institutions shall issue provisions on the lending without asset security and the level of lending without asset security in order to secure the security of credit activities and be responsible by themselves for their decision.

Article 3.This Decision shall be effective from 09 November, 2002.

Article 4. Heads of units of the State Bank of Vietnam, General Managers of State Bank branches in provinces, cities under the central Governments management, the Chairpersons of the Board of Directors and General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.