Decree No. 157/2026/NĐ-CP On Settlement and Final Account of State Budget Funds to Compensate Interest Rates for Commercial Banks Implementing the State's Preferential Credit Policies

 

 

DECREE

On settlement and final accounting of state budget funds to compensate interest rates for commercial banks implementing preferential credit policies of the State
Citing Decree on Organization of the Government No. 63/2025/QH15;
Citing Decree on Issuance of Normative Legal Documents No. 64/2025/QH15, amended and supplemented by Decree No. 87/2025/QH15;

 

Citing Decree on State Budget No. 89/2025/QH15;

Citing Decree on Public Investment No. 58/2024/QH15, amended and supplemented by Decrees Nos. 90/2025/QH15 and No. 135/2025/QH15;

Citing Decree on Credit Institutions No. 32/2024/QH15, amended and supplemented by Decrees Nos. 43/2024/QH15 and No. 96/2025/QH15;

In accordance with the proposal of the Minister of Finance;

The Government issues this Decree on settlement and final accounting of state budget funds to compensate interest rates for commercial banks implementing preferential credit policies of the State.

Article 1. Scope of Application

This Decree regulates the settlement and final accounting of state budget funds from central government sources to compensate interest rates for commercial banks implementing preferential credit policies of the State.

 

Article 2. Applicability

1. Commercial banks established and operating in accordance with the Credit Institutions Law that implement the State's preferential credit policies.

2. Other agencies, organizations, and individuals relevant thereto.

Article 3. Principles of Interest Rate Subsidy

1. The provision of interest rate subsidies shall ensure transparency, fairness, targeting the correct recipients, and avoiding policy profiteering.

2. State budget funds are allocated to provide interest rate subsidies to commercial banks for implementing the State's preferential credit policies.

3. Commercial banks implementing the State's preferential credit policies shall ensure compliance with regulations, providing convenience to customers.

4. Loans eligible for interest rate subsidies must meet all legal conditions for such subsidies and have valid documentation.

Article 4. Preparation of State Budget Fund Plans for Interest Rate Subsidies

1. The preparation of public investment plans for interest rate subsidies shall be carried out in accordance with the Public Investment Law, State Budget Law, this Decree, and relevant normative legal documents.

2. The Vietnam National Bank compiles the demand for interest rate subsidies from commercial banks implementing preferential credit policies of the State in the medium-term and annual state budget investment plans, prepares a report, and sends it to the Ministry of Finance for consolidation and reporting to competent authorities.

3. After being assigned an investment plan (including the initial allocation, supplementary or adjusted allocations within the fiscal year) by the Prime Minister, the Vietnam National Bank shall detail the allocation, assign the investment plan for interest rate subsidies to commercial banks; adjust the investment plan for interest rate subsidies among commercial banks as necessary and send it to the Ministry of Finance and State Treasury for coordination in implementation. The authority to decide, time for allocation, and adjustment of the investment plan is carried out in accordance with the Public Investment Law and State Budget Law.

2. The State Bank of Vietnam shall summarize the demand for interest subsidy from commercial banks implementing preferential credit policies of the Government in the medium-term and annual investment plans using state budget funds, prepare a report, and submit it to the Ministry of Finance for consolidation and reporting to competent authorities.

3. After being assigned the investment plan (including the initial plan for the year, supplementary or adjusted within the fiscal year) by the Prime Minister, the State Bank of Vietnam shall detail allocate and assign the investment plan for interest subsidy to commercial banks; adjust the investment plan for interest subsidy among commercial banks as necessary when it is deemed appropriate without changing the total medium-term and annual capital limits already decided by competent authorities, and submit it to the Ministry of Finance and the State Treasury for coordination in implementation. The authority to decide, time for allocation, and adjustment of the investment plan shall be carried out in accordance with the provisions of the Investment Law and the State Budget Law.

Article 5. Implementation of Budgetary Fund Settlement to Compensate Interest Subsidies

1. Within the first twenty days of each quarter, commercial banks shall submit to the State Bank of Vietnam a dossier requesting settlement of the interest subsidy amount already implemented; for the fourth quarter of each year, the submission is due by January 5th of the following year.

a) The components of the dossier include: A request for settlement document detailing the interest subsidy provided by the commercial bank to customers, the requested compensation amount, and the commercial bank's receiving account; a report on the implementation of interest subsidies to customers of the commercial bank in accordance with Form No. 01 attached as an appendix to this Decree; a statement listing customers who have received interest subsidies according to Form No. 02 attached as an appendix to this Decree.

The commercial bank shall be responsible for the validity and accuracy of the dossier, data related to the settlement request in accordance with legal provisions.

b) Number of copies: One copy.

c) Method of submitting the dossier (one of the following): submit directly or via postal service or through the National E-Government Portal.

d) Processing time: If the commercial bank's submission is not in compliance, the State Bank of Vietnam shall notify the commercial bank in writing within five working days to complete the dossier. Within fifteen working days from the receipt of a fully compliant dossier, the State Bank of Vietnam shall review and summarize the settlement amount requested by the commercial bank.

2. The State Bank of Vietnam shall prepare a dossier for interest subsidy settlement for commercial banks and submit it to the National Treasury.

a) The components of the dossier include: A request for settlement document; a payment request form in accordance with Form No. 03 attached as an appendix to this Decree; a withdrawal order according to Form No. 05.a/TT issued under Decree No. 254/2025/NĐ-CP dated September 26, 2025 by the Government on management, settlement, and final accounting of projects using public investment funds.

b) Number of copies: One copy for the request document; three copies for the withdrawal order. For submissions through the National E-Government Portal, all dossier components must be signed with an electronic signature in accordance with regulations.

c) Method of submitting the dossier (one of the following): submit directly or via postal service or through the National E-Government Portal.

d) The National Treasury shall receive and verify the information on the State Bank of Vietnam's settlement request dossier, within the scope of the annual investment plan allocation and budgetary fund balance to process payment for commercial banks; simultaneously, it will send one copy of the voucher (Debit Advice) to the State Bank of Vietnam to confirm the completion of the payment.

In case the National Treasury rejects the settlement request, the National Treasury shall notify the State Bank of Vietnam in writing of its refusal to approve the budgetary fund disbursement (specifying the reasons for rejection).

d) Processing time: Within two working days from the receipt by the National Treasury of a fully compliant dossier submitted by the State Bank of Vietnam.

3. The total amount settled for commercial banks in accordance with paragraph 2 of this Article during the fiscal year shall not exceed the announced annual investment plan allocation for interest subsidy.

4. In case the actual interest subsidy amount incurred in a given year is less than the budgeted amount, the excess budgetary provision surplus will be reallocated in accordance with the Law on State Budget, the Law on Investment, this Decree, and relevant legal documents.

5. The State Bank of Vietnam shall open an account at the National Treasury to receive state budget allocations for interest subsidies on preferential credit provided to commercial banks.

Article 6. Settlement of State Budget Funds to Compensate Interest Rates for Commercial Banks by Fiscal Year (Settlement According to Financial Year)

1. The preparation of a report on the settlement of state budget funds to compensate interest rates for commercial banks by fiscal year (settlement according to financial year) must comply with the requirements stipulated in Article 67 of the State Budget Law and guiding documents.

2. Commercial banks shall be responsible for preparing the settlement file for interest rate compensation, which accurately determines the amount of interest rate compensation for each customer and summarizes it for the entire commercial bank to send to the Vietnam National Bank, including:

a) A letter on the settlement of interest rate compensation, specifying the amount of interest rate support provided by the commercial bank to customers, the amount of interest rate support recovered, the amount paid by the state budget, and the amount requested for settlement;

b) A consolidated report on the data requested for settlement of interest rate compensation from the commercial bank that has been audited by an independent auditor or the National Audit Office;

c) A statement listing evidence of customers who received interest rate support during the settlement year.

The commercial bank shall be responsible for the validity and accuracy of the settlement file, data.

3. The amount of interest rate compensation to be settled is determined as follows:

a) The actual payment amount of interest rate compensation for each disbursement is calculated according to the formula:

I = Interest Rate Support (%) x ∑(DixTi)/365

Where:

I is the actual payment amount of interest rate compensation for each disbursement;

∑ (DixTi) is the total sum of products between the outstanding balance and the actual number of days with interest rate support for each disbursement.

b) The actual payment amount of interest rate compensation for a loan is the total actual interest paid for all disbursements under that loan.

c) The actual payment amount of interest rate compensation requested from the state budget is the total actual interest paid for all loans eligible for interest rate support.

4. The Vietnam National Bank shall verify the completeness and accuracy of the data in the settlement file of state budget funds to compensate interest rates by fiscal year for each commercial bank, perform the audit as prescribed in paragraph 2 of Article 69 of the State Budget Law, and Decision No. 73/2026/NĐ-CP dated March 10, 2026, of the Government on detailed provisions and guidelines for implementing certain articles of the State Budget Law, and issue a notification on the audit and settlement of state budget funds to compensate interest rates for commercial banks by fiscal year in accordance with Model No. 04 attached to this Decree.

5. The Vietnam National Bank shall compile the report on the settlement of state budget funds to compensate interest rates from each commercial bank by fiscal year and send it to the Ministry of Finance before July 5th of the following year.

6. The Ministry of Finance shall verify the consolidated report on the settlement of state budget funds to compensate interest rates by fiscal year from the Vietnam National Bank for completeness and accuracy, with confirmation from the State Treasury.

Article 7. Handling Recovery of Amounts Compensated for Interest Rates

1. During implementation, if it is found that a loan to a customer does not fall within the eligible category, was misused, or did not meet the conditions for interest rate support as prescribed by law, the commercial bank shall recover in full the amount of interest rate support provided to the customer.

2. If the recovery of the amount of interest rate support is made during the effective period of the interest rate support policy, the recovered amount will be offset against the state budget payment for the commercial bank. In cases where the interest rate support policy has expired and the state budget has already been paid, the commercial bank shall return to the state budget the corresponding amount of interest rate compensation.

3. The commercial bank shall make a repayment according to the provisions of the State Budget Law and send a letter to the Vietnam National Bank and the Ministry of Finance regarding the recovery and repayment of the state budget for follow-up purposes.

Article 8. Implementation

1. Responsibilities of the Ministry of Finance

a) To compile and submit to the competent authority for allocation of subsidy funds to compensate interest rates in implementing preferential credit policies of the State, for payment to commercial banks according to the provisions of the law;

b) To inspect and report on the annual settlement of interest rate subsidies submitted by the Vietnam National Bank (VNB) according to the provisions of the State Budget Law and this Decree.

2. Responsibilities of the Vietnam National Bank

a) To compile plans for interest rate subsidy allocations from commercial banks; to allocate, assign, and adjust public investment plans to provide interest rate subsidies to commercial banks; to prepare files requesting payment, taking responsibility for the file and amount requested for interest rate subsidies submitted to the State Treasury according to the provisions of this Decree;

b) To compile annual settlement reports on interest rate subsidies from commercial banks; to issue notifications for reviewing and approving annual interest rate subsidy settlements for commercial banks;

c) To monitor and handle any difficulties or impediments arising in the payment and settlement processes with commercial banks.

3. Responsibilities of commercial banks

a) To report fully and promptly to the Vietnam National Bank, taking responsibility for the validity and accuracy of the files and data requested for interest rate subsidy payments and settlements according to the provisions of this Decree;

b) To provide relevant documents related to interest rate subsidies upon request (originals or copies stamped by the commercial bank);

c) To recover the amount of subsidized interest rates from customers' loans that have been determined not to be eligible, misused loan funds, or do not meet the conditions for interest rate subsidy according to the provisions of the law and return it to the state budget.

Article 9. Transitional Provisions

For preferential credit programs of the State that have not yet completed payment and settlement of interest rate subsidies before the effective date of this Decree, the payment and settlement of interest rate subsidies shall be carried out in accordance with the provisions of this Decree.

Article 10. Effective Date

1. This Decree takes effect from July 1, 2026.

2. The Ministers, Heads of agencies at the same level as ministries, Chairmen of People's Committees of provinces and municipalities directly under the Central Government, commercial banks, and relevant organizations and individuals shall be responsible for implementing this Decree.

 

 

 

Nguyen Van Thang

(Attached to Decree No. 157/2026/NĐ-CP
Annex

 

 

Notification on Approval of State Budget Funds to Reimburse Interest Subsidies by Year for Commercial Banks

 

 

NAME OF COMMERCIAL BANK
REPORT ON INTEREST SUBSIDY IMPLEMENTATION FOR CUSTOMERS
Quarter...Year...

 

Unit: Vietnamese Dong (VND)

 

 

 

Notes:

- Column (3), (4), (5), (6) report outstanding interest subsidy loans, loan disbursements for interest subsidies, and recovery of loan disbursements for interest subsidies (excluding amounts specified in Clause 1 of Article 7 of this Decree).

- Column (7) reports the amount of interest subsidies provided by commercial banks (including amounts already provided as interest subsidies that must be recovered), excluding amounts of interest subsidies that have submitted applications to the State Bank of Vietnam.

- Column (8) reports the amount of interest subsidies provided by commercial banks (arising from the beginning of the program to the end of the reporting period) but within the reporting period, it is determined to be recoverable according to Article 7 of this Decree.

- Column (9) only reports data at the Total row.

- In case the amount of interest subsidies provided by commercial banks in the period is less than the amount of interest subsidies that must be recovered, then the amount requested from the state budget for compensation of interest subsidies during the period = 0. The difference between the amount of interest subsidies that must be recovered and reduced within the period and the amount of interest subsidies provided by commercial banks in the period shall be returned to the state budget.

- Commercial banks submit the original (signed, stamped) copy along with an Excel file (copied onto a data storage device such as a disk or USB, or sent via email using the address provided by the State Bank of Vietnam), ensuring that the data between copies is consistent.

 

Form No. 02

 

LIST OF DOCUMENTS EVIDENCING CUSTOMER SUPPORT
INTEREST SUBSIDY RECEIVED
Quarter...year...

 

Unit: Vietnamese Dong (VND)

 

 

 

Notes:

- Column (8) reports the amount of interest subsidies provided by commercial banks according to interest subsidy documents issued (including amounts already provided as interest subsidies that must be recovered).

- Column (9) reports the amount of interest subsidies provided by commercial banks according to interest subsidy documents (including those issued during the reporting period) but within the reporting period, it is determined to be recoverable according to Article 7 of this Decree.

- Column (10) only reports data at the Total row.

- In case the amount of interest subsidies provided by commercial banks in the period is less than the amount of interest subsidies that must be recovered, then the amount requested from the state budget for compensation of interest subsidies during the period = 0. The difference between the amount of interest subsidies that must be recovered and reduced within the period and the amount of interest subsidies provided by commercial banks in the period shall be returned to the state budget.

- Commercial banks submit the original (signed, stamped) copy along with an Excel file (copied onto a data storage device such as a disk or USB, or sent via email using the address provided by the State Bank of Vietnam), ensuring that the data between copies is consistent.

 

Form No. 03

 

APPLICATION FOR COMPENSATION OF INTEREST SUBSIDY PAYMENT

 

To: …(1)1

 

Based on the Decision No. ... of the Prime Minister regarding the allocation of funds for...

Based on the application submitted by the State Bank of Vietnam for compensation of interest subsidies to commercial banks;

Amount requested for this period:... VND

In words: ...

- Interest subsidy budget allocation plan for the year: ... VND

- Cumulative amount paid up to the previous period end: ... VND

(In words: ...)

- Amount requested for this period: ... VND

(In words: ...)

- Remaining amount not yet paid: ... VND

(In words:)

- Source of funds (domestic funds): ...

- Under the plan: ... year ...

Unit: Vietnamese Dong (VND)

 

 

 

_____________________

1 Note: (1): The State Treasury where the unit opens its account for transactions.

PART OF THE PAYMENT AUTHORITY

 

- Date of receipt of payment request for interest subsidy: ...

- Payment authority approval: ...

- Total amount: ... dong

In words: ...

- Number of rejections: ... dong

Reason: ...

Note:...

 

 

Form No. 04

 

NOTICE

Approval of the settlement of state budget funds to compensate for interest rates for commercial banks...
For the fiscal year ...

 

Based on Decree No. 73/2026/NĐ-CP dated March 10, 2026 of the Government, detailing and implementing certain provisions of the State Budget Law;

Based on Decree No. .../2026/NĐ-CP dated May ..., 2026 of the Government, regulating payment and settlement of state budget funds to compensate for interest rates for commercial banks implementing preferential credit policies of the State;

Based on the settlement report of state budget funds to compensate for interest rates in ... for various commercial banks;

After reviewing the settlement report of state budget funds according to the fiscal year ..., the Vietnam People's Bank hereby announces as follows:

1. General comments

(Comments on compliance with policies and regulations, reporting time, content, and forms)

2. Specific contents:

a) Verification of completeness and accuracy of data when compiling the settlement report, including: amount of interest rate support provided by commercial banks in the year, amount of interest rate support recovered in the year, amount of state budget funds settled in the year.

b) Handling of any shortfall or excess in state budget funds settled for interest subsidies according to the State Budget Law and Investment Law, as well as relevant guidelines.

c) Issues identified during the compilation of settlement reports, inspections, audits, and supervision (if applicable).

d) Determination of the amount of funds settled in the fiscal year.

e) Other matters (if any).

(Detailed data as per attached form)

3. Recommendations (if any):

 

 

 

 

 

NOTICE ON APPROVAL OF SETTLEMENT OF STATE BUDGET FUNDS FOR INTEREST SUBSIDY ACCORDING TO THE FISCAL YEAR...

(Accompanied by Notice No.: ...dated...month... year... of the Vietnam People's Bank)