Facing new, complicated and unpredictable developments of the covid-19 disease in the world and in Vietnam. The State Bank of Vietnam has issued Circular 01-2020-TT-NHNN on bank support to customers affected by Covid-19 on the bank's support to customers affected by Covid-19 with many measures such as lowering interest rates, extending and postponing debts; Exemption and reduction of some types of payment transaction fees
Speaking at the meeting, Standing Deputy Governor Dao Minh Tu emphasized that Circular 01 was issued in order to timely support and remove difficulties for businesses and people who borrow capital damaged by the impact of Covid epidemic. -19.
The Circular ensures the legal basis to guide credit institutions and foreign bank branches to restructure loan repayment periods, exempt or reduce loan interest rates, and maintain the group of debts to businesses and people that have been damaged. due to the effects of the Covid-19 epidemic.
The concept of developing a Circular is to create maximum conditions on the responsibility and authority for credit institutions to coordinate with borrowers in considering and deciding the time level, supporting enterprises in restructuring loans and difficulties. towels due to disease impacts. At the same time, the new Circular will also clarify the responsibilities of credit institutions and borrowers when implementing this support policy, ensuring the right subjects, objectivity and not being taken advantage of.
The debt range restructures the repayment term and criteria for determining debts affected by Covid-19
Article 4 of the Circular stipulates that debt repayment rescheduling is the amount of principal and / or interest (including the debt balance of debts within the scope of regulation of Decree No. 55/2015 / ND-CP. June 09, 6 of the Government on the credit policy for agriculture and rural development (amended and supplemented) satisfies the following conditions:
(a) Arising from lending, financial leasing activities;
(b) Arising the obligation to pay the principal and / or interest within the period from January 23, 01 to the next day after 2020 months from the date the Prime Minister announces the end of the Covid-03 epidemic;
(c) The customer is unable to pay the debt in due time and / or interest due to a decrease in revenue or income due to Covid-19.
Credit institutions and foreign bank branches shall be responsible for providing specific guidance on criteria for determining the debt balance of customers affected by Covid-19, in which customer criteria must be reduced. revenue, revenue by Covid-19 translation.
Exemption and reduction of interests and fees
Article 5 of the Circular stipulates that credit institutions and branches of foreign banks shall decide on the exemption and reduction of interests and fees according to internal regulations for the outstanding debts arising from credit extension activities (except purchasing activities, investment in corporate bonds) with the obligation to pay both principal and / or interest within the period from January 23, 01 to the next day after 2020 months from the date the Prime Minister announces the end of the Covid-03 epidemic and customers. Inability to repay the principal and / or interest due to a decrease in revenue and income due to Covid-19.
Keep the debt group intact
Article 6 of the Circular stipulates that credit institutions and branches of foreign banks are entitled to keep the classified debts group as prescribed by the State Bank at the latest time before January 23, 01 during the restructuring period. (except for the case specified in Clause 2020 of this Article), for the outstanding loans with restructured repayment, exemption and reduction periods prescribed in this Circular and credit institutions and foreign bank branches must implement: the debt classification and risk provisioning has been restructured over the term in accordance with the law on debt classification, setting up and using provisions to deal with risks in the operations of credit institutions. , foreign bank branches without having to apply the adjustment principle to the debt group with a higher level of risk.
Responsibilities of credit institutions, foreign bank branches and units of the State Bank
Article 7 of this Circular specifies the responsibilities of credit institutions and foreign bank branches to issue internal regulations on restructuring time limit for debt payment, exemption or reduction of interests, keeping intact debt groups according to regulations. This Circular is intended to perform uniformly throughout the system, ensuring strict supervision, safety, prevention, and prevention of abuse of debt repayment term restructuring, interest exemption and reduction, keeping the debt group intact to profiting, reflecting credit quality deviation.
Article 8 of the Circular specifies the responsibilities of affiliates of the State Bank in the inspection, supervision and handling of problems arising during the implementation of credit institutions, foreign bank branches. Circulars.
Check your loan and check for eligibility
The terms of the preferential loan are:
- Arising from lending activities, financial leasing;
- The obligation to repay the principal and / or interest is incurred during the period from January 23, 01 to the next day after 2020 months from the date the Prime Minister announces the end of the Covid-03 epidemic;
- Customers are unable to pay their debt and / or interest in due time due to a decrease in revenue and income due to Covid-19.
If the business meets the above conditions, perform the following steps:
- Contact the bank where the business is taking the loan to request details of necessary documents.
- Businesses prepare necessary documents and submit them to banks for approval.
Procedures for applying for exemption or reduction
Notice to Expertis
- Expertis customers please inform us the need for support. With the details.
Working with banks
- Within 1 working day from the date of receiving your notice, we will send staff to contact the bank and respond via email to customers about the bank's detailed records and policies.
- Expertis continues to support customers to prepare documents proving damage / business decline to meet the bank's policy.
Send the file to the bank
- Expertis will assist customers to send documents to the bank, by: sending the delivery staff to customers to get records and send to the bank for the person responsible for approval.
- Expertis will support tracking results from the bank and the bank will in the direct report to the customer in the event of approval.