Official Dispatch No. 242/CV-NHNN1 of March 26, 1999, Punishment on violation of interest payment maturity

Summary
Content
Status
Vietnamese
Related documents
Diagram
Download

Error message

Font size:

ATTRIBUTE

Issuing body:	State Bank of Vietnam	Effective date:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Official number:	242/CV-NHNN1	Signer:	Tran Minh Tuan
Type:	Official Dispatch	Expiry date:	Updating
Issuing date:	25/03/1999	Effect status:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Fields:	Administrative violation, Finance - Banking

For more details, click here.

Download files here.

LuatVietnam.vn is the SOLE distributor of English translations of Official Gazette published by the Vietnam News Agency

Effect status:

STATE BANK OF VIETNAM -------	SOCIALIST REPUBLIC OF VIETNAM Independence-freedom-happiness ---------
No. 242 CV-NHNN1 Punishment on violation of interest payment maturity	Hanoi, March 25, 1999

To:

- State- owned commercial banks
- Bank for Investment and Development of Vietnam
- Bank for Housing Development in the Mekong Delta
- Joint-stock commercial Banks
- Foreign bank branches
- Joint-venture banks
- Central People Credit Fund
- Regional People Credit Fund

- Upon proposal of some commercial banks, the State Bank of Vietnam provides guidance on the punishment for violation of the interest payment maturity by the customers as follows:

- In accordance with the current applicable laws, commercial banks, Bank for Investment and Development of Vietnam, Bank for Housing Development in the Mekong Delta, the Central People Credit Fund, Regional People Credit Fund and their customers have the right to agree in a credit contract on the punishment for violation of the payment maturity of lending interest by customers. The level of the punishment for the violation of interest payment maturity shall be calculated as a percentage (%) of the interest defaulted, but not exceeding 5% at the maximum. The above mentioned Credit Institutions shall consider their characteristics, lending conditions and that of the customers and the seriousness of the violation to agree on the level of the punishment in a reasonable manner and for the mutual interest of both parties.

- The fine shall be equal to the level of punishment (%) as agreed in the credit contract multiplied by the defaulted interest due.

FOR THE GOVERNOR OF THE STATE BANK OF VIETNAM
DEPUTY GOVERNOR

Tran Minh Tuan

This feature is available to English or Advanced account holders. Please log in to a subscriber account to see the full text. Don’t have an account? Register here

Please log in to a subscriber account to see the full text. Don’t have an account? Register here

Processing, please wait...

You are not logged in.

This feature is available to Advanced account holders. Please log in to access detailed information on Related documents.

If you do not have an account, please register here!

Processing, please wait...

LuatVietnam.vn is the SOLE distributor of English translations of Official Gazette published by the Vietnam News Agency

VIETNAMESE DOCUMENTS

ENGLISH DOCUMENTS

Others

* Note: To view documents downloaded from LuatVietnam.vn, please install DOC, DOCX and PDF file readers

For further support, please call 19006192

Official Dispatch No. 242/CV-NHNN1 of March 26, 1999, Punishment on violation of interest payment maturity

ATTRIBUTE

VIETNAMESE DOCUMENTS

ENGLISH DOCUMENTS

SAME CATEGORY

Official Telegram No. 32/CD-TTg dated April 05, 2024 of the Prime Minister on solutions to manage credit growth in 2024

Official Telegram No. 18/CD-TTg dated March 05, 2024 of the Prime Minister on managing credit growth in 2024

Official Dispatch No. 565/CV-NHNN1 of June 19, 1999, Collection of fees, commissions in the credit activity by credit institutions from customers

Official Dispatch No. 897/CV-NHNN7 of September 28, 1998, Registration on foreign borrowing and repayment by enterprises

Official Dispatch No. 767-CV/NHNN7 dated August 24, 1998 of the State Bank on foreign currencies buying and selling at credit institutions that are permitted to trade in foreign currencies