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STATE BANK OF VIETNAM
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SOCIALIST REPUBLIC OF VIETNAM
Independence-freedom-happiness
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No. 1039/CV-KTTC2
Re: Guideline on accounting for provisioning and the use of provisions for risks arising from banking activities of credit institutions
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Hanoi, July 15, 1999
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To:
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- Credit Institutions
- State Bank Branch in provinces, cities
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The Governor of the State Bank of Vietnam has issued on February 8th, 1999 the Decision No.48/1999/QD-NHNN5 on "Regulation on Assets classification and provisions for risks arising from the banking activities of Credit Institutions". For the consistency of accounting and the use of provisions, the State Bank of Vietnam promulgates the following guidelines:
I. FOR ASSETS CLASSIFICATION AND RATIO FOR PROVISIONING:
The classification of assets and the ratio for provisioning shall be implemented in accordance with the provisions stated in Article 5, Article 6 of the regulation issued in conjunction with the Decision No. 48/1999/QD-NHNN5 as follows:
1. For credit activities:
- For the assets of the group 1, including:
+ Current loans (including the re-scheduled period).
