Special loans to credit institutions placed under special control

On March 31, 2022, the Governor of the State Bank of Vietnam promulgates the Circular No. 02/2022/TT-NHNN amending and supplementing a number of articles of the State Bank of Vietnam’s Circular No. 08/2021/TT-NHNN dated July 06, 2021, on grant of special loans to credit institutions placed under special control.

Accordingly, the SBV shall consider granting special loans to credit institutions placed under special control with funding sources from the performance of the central bank’s function in terms of money issuance in the case:

Granting special loans at the lowest preferential interest rate of 0% to commercial banks that have been compulsorily purchased before the effective date of the Law No. 17/2017/QH14 as prescribed in Clause 2 Article 3 of the Law No. 17/2017/QH14.

This Circular takes effect on May 24, 2022.