DECREE NO. 2/2026/TT-NHNN AMENDING AND SUPPLEMENTING SOME ARTICLES OF DECREES NO. 35/2025/TT-NHNN REGULATING SPECIFIC LOANS FOR CREDIT INSURANCE ORGANIZATIONS

AMENDING AND ENRICHING CERTAIN ARTICLES OF CIRCULAR NO. 35/2025/TT-NHNN

REGULATING SPECIFIC LOAN ARRANGEMENTS

FOR CREDIT ORGANIZATIONS BASED ON THE LAW ON CREDIT INSTITUTIONS No. 32/2024/QH15, AMENDED AND SUPPLEMENTED BY LAWS NO. 43/2024/QH15 AND NO. 96/2025/QH15; 

BASED ON THE DEPOSIT INSURANCE LAW No. 111/2025/QH15; BASED ON DECREE NO. 26/2025/NĐ-CP

REGULATING THE FUNCTION, MISSION, POWERS, AND ORGANIZATIONAL STRUCTURE OF THE STATE BANK OF VIETNAM;ACCORDING TO THE PROPOSAL OF THE VICE-MINISTER FOR MONETARY POLICY;;

THE GOVERNOR OF THE STATE BANK OF VIETNAM ISSUES THIS CIRCULAR AMENDING AND ENRICHING CERTAIN ARTICLES OFCIRCULAR NO. 35/2025/

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NHNN REGULATING SPECIFIC LOAN ARRANGEMENTS FOR CREDIT ORGANIZATIONS.Article 1. Amend and Enrich Article 1"Article 1. Scope of Application-This Circular regulates the special loan arrangements by the State Bank of Vietnam (hereinafter referred to as the State Bank), deposit insurance organizations, and other credit organizations for credit organizations; the special loan arrangements by the State Bank for deposit insurance organizations." Article 2. Amend and Enrich Article 2

"Article 2. Applicability

1. Credit organizations established and operating in accordance with the Law on Credit Institutions.

2. Deposit insurance organization.

3. Other entities or individuals relevant to the special loan arrangements by the State Bank, deposit insurance organization, other credit organizations for credit organizations; the special loan arrangements by the State Bank for deposit insurance organizations."

Article 3. Amend and Enrich Certain Clauses of Article 3

1. Amend and enrich Clause 1 as follows:

The Special Lender is the State Bank, deposit insurance organization, or other credit organization providing special loans to credit organizations; the State Bank providing special loans to deposit insurance organizations."

2. Amend and enrich Clause 3 as follows:

The Special Borrower is a credit organization borrowing from the State Bank, deposit insurance organization, or other credit organization; a deposit insurance organization borrowing from the State Bank."

3. Amend and Enrich Clause 14 as follows:

“1. Decision on Special Loan of the State Bank

is a decision by the Governor of the State Bank or the Deputy Governor of the State Bank Region regarding special loans to credit organizations in cases where such special loans fall within the decision-making authority of the State Bank, or a decision by the Governor of the State Bank implementing special loans according to a decision by the Prime Minister when the special loan has been decided upon by the Prime Minister under paragraph 4 of Article 193 of the Law on Credit Institutions No. 32/2024/QH15, or a decision by the Governor of the State Bank regarding special loans to deposit insurance organizations."

“3. 4. Insert "deposit insurance organization," before "other credit organization" in Clause 15. Article 4. Amend and Enrich Certain Points and Clauses of Article 4

1. Add sub-paragraph (d) to Clause 1 as follows:

“14. "(d) Special loan with an interest rate of 0% per annum, without collateral, for deposit insurance organizations in cases provided for in paragraph 1 of Article 38 of the Deposit Insurance Law No. 111/2025/QH15 (hereinafter referred to as the Law No. 111/2025/QH15)." 2. Add Clause 1a after Clause 1 as follows: "1a. Deposit insurance organization providing special loans to credit organizations from its business reserve fund in cases provided for in paragraph 1 of Article 35 of the Law No. 111/2025/QH15."

4. Supplement the phrase "organization for deposit guarantee," before the phrase "other credit institutions" in Clause 15.

Article 4. Amend and supplement certain points and clauses of Article 4

1. Supplement Point đ in Clause 1 as follows:

"d) Special lending at an interest rate of 0% per annum, without collateral, to an organization for deposit guarantee where provided for in Paragraph 1, Article 38 of the Deposit Guarantee Law No. 111/2025/QH15 (hereinafter referred to as Law No. 111/2025/QH15)."

2. Supplement Clause 1a after Clause 1 as follows:

"1a. An organization for deposit guarantee may lend from its business reserve fund in the circumstances provided for in Paragraph 1, Article 35 of Law No. 111/2025/QH15."

Article 5. Amendment and Supplement to Certain Clauses of Article 5

1. Clause 3a is added after Clause 3 as follows:

“3a. For the special loan specified in Point d, Clause 1, Decree No. 4/2025/NĐ-CP, the special loan shall be implemented in accordance with the provisions of Chapter IIIa of this Decree.”

2. The phrase “Clause 1a,” is added before the phrase “Clause 2” in Clause 4.

3. Clause 4a is added after Clause 4 as follows:

“4a. A people's credit cooperative shall not provide a special loan to another people's credit cooperative.”

4. Clause 9 is added as follows:

“9. For the special loan specified in Clause 1a, Article 4, Decree No. 4/2025/NĐ-CP, after the bankruptcy plan of the borrower has been approved, the amount of the special loan provided by the deposit insurance organization shall be handled in accordance with the provisions of Clause 2, Article 37, Law No. 111/2025/QH15.”

Article 6. Amendment and Supplement to Clause 1 of Article 6

“1. The Governor of the State Bank decides on the provision of a special loan by the State Bank to credit institutions, deposit insurance organizations specified in Points a, b, c, d, Clause 1, Decree No. 4/2025/NĐ-CP, except for people's credit cooperatives.”

Article 7. Addition of Chapter IIIa after Chapter III

“Chapter IIIa

STATE BANK SPECIAL LOANS FOR DEPOSIT INSURANCE ORGANIZATIONS

Article 29a. Purpose, amount, term, and interest rate for special loans

1. A deposit insurance organization may only use the special loan to pay out insurance claims.

2. The amount of the special loan is determined by the State Bank based on the request of the deposit insurance organization and shall not exceed the amount in the reserve fund that is insufficient to cover insurance claims as specified in Clause 1, Article 38, Law No. 111/2025/QH15.

3. The term for the special loan and any extension of the term for the special loan shall be determined by the deposit insurance organization in accordance with its projected sources of repayment of the special loan as specified in Clause 2, Article 38, Law No. 111/2025/QH15.

4. The interest rate on the special loan:

a) For the principal amount of the special loan, including current, extended, and overdue principal, the interest rate is 0% per annum;

b) No interest shall be charged on arrears.

Article 29b. Procedure for obtaining a special loan

1. When there is a need to obtain a special loan, the deposit insurance organization shall submit two copies of the application for a special loan to the State Bank (Department of Monetary Policy).

The application includes:

a) A request for a special loan specifying: the amount and term requested, the purpose of the special loan; reasons for requesting the special loan; the Vietnamese currency account at the State Bank Branch; commitment to use the funds in accordance with their intended purpose and compliance with legal provisions on special loans;

b) A detailed report on the following contents: the deposit insurance organization falls under the circumstances specified in Clause 1, Article 38, Law No. 111/2025/QH15 for which a special loan from the State Bank is allowed; specific explanation of why the amount requested does not exceed the reserve fund that is insufficient to cover insurance claims, term of the special loan; repayment plan and sources of funds for repaying the special loan from the State Bank (including all sources specified in Clause 2, Article 38, Law No. 111/2025/QH15);

c) A resolution by the Board of Directors of the deposit insurance organization approving the request for a special loan from the State Bank.

2. Within a maximum period of 20 working days from the date of receipt of the complete application from the deposit insurance organization, the Governor of the State Bank shall examine and decide on providing a special loan to the deposit insurance organization.

2. Within a maximum period of twenty working days from the date of receipt of a complete application from an organization for deposit guarantee, the Governor of the National Bank shall examine and decide on the special lending to be granted to such organization.

Article 29c. Extension of Special Loan Maturity Period

1. When there is a need to extend the maturity period of a special loan, at least 40 working days before the due date for repayment, the Deposit Insurance Corporation submits two copies of an application requesting extension of the special loan maturity period to the State Bank of Vietnam.

The application includes:

a) A request for extension of the special loan maturity period, specifying: name of the deposit insurance corporation; reasons, amount, and proposed new term; commitment to comply with legal provisions regarding special loans;

b) A detailed report on the following contents: specific explanation of the amount and term requested for extension; reasons why the deposit insurance corporation has not been able to repay the special loan (including measures taken to repay the special loan; implementation status of the repayment schedule, sources of funds for repaying the special loan reported in the application for a special loan); proposed measures to repay the special loan, repayment schedule, and source of funds for repayment (specifying sources of funds as provided in paragraph 2 of Article 38 of Law No. 111/2025/QH15);

c) A resolution by the Board of Directors of the deposit insurance corporation approving the request for extension of the special loan maturity period.

2. Within a maximum of 20 working days from the receipt of a complete application from the deposit insurance corporation, the Governor of the State Bank of Vietnam shall examine and decide on extending the maturity period of the special loan for the deposit insurance corporation.

Article 29d. Signing Special Loan Contract and Disbursement

1. Based on the decision to provide a special loan as specified in paragraph 2 of Article 29b of this Circular, the State Bank of Vietnam (Branch) and the deposit insurance corporation enter into a special loan contract with basic contents as set forth in Appendix VII attached to this Circular.

2. Disbursement of Special Loan:

a) When there is a need for disbursement of the borrowed funds, the deposit insurance corporation submits a request for disbursement of the borrowed funds to the State Bank of Vietnam (Branch); specifying the amount, time, and reasons for requesting disbursement;

b) Based on the signed special loan contract, within two working days from the receipt of the request for disbursement of the borrowed funds, the State Bank of Vietnam (Branch) shall approve and disburse the borrowed funds in accordance with the amount specified in the request for disbursement of the borrowed funds submitted by the deposit insurance corporation.

Article 29đ. Repayment of Special Loan

1. Upon maturity of a special loan, the deposit insurance corporation must repay all debts to the State Bank of Vietnam.

2. The deposit insurance corporation may repay the special loan before its due date; no prepayment fee is required.

3. In case the deposit insurance corporation has funds from sources specified in paragraph 2 of Article 38 of Law No. 111/2025/QH15, within five working days at the beginning of the next month (month T+1), the deposit insurance corporation shall use the funds received in the previous month (month T) to repay the special loan to the State Bank of Vietnam after deducting any insurance payments due to insured persons as provided by Law No. 111/2025/QH15 and any fees for insurance premiums used to offset expenses according to paragraph 5 of Article 30 of Law No. 111/2025/QH15.

4. In case it is discovered that the deposit insurance corporation has not repaid the special loan as required by paragraph 3, within seven working days from the date of the State Bank of Vietnam's notification of violation under point c of paragraph 2 and point c of paragraph 3 of this Circular, the deposit insurance corporation must repay the amount due for the special loan that was not paid on time.

5. In case it is found during supervision and inspection that the deposit insurance corporation has misused funds borrowed under a special loan, within seven working days from the date of the State Bank of Vietnam's notification of violation under point c of paragraph 2 and point c of paragraph 3 of this Circular, the deposit insurance corporation must repay the amount of the special loan that was misused.

6. In case the deposit insurance corporation fails to repay as required by paragraph 1 of this Article, the State Bank of Vietnam shall take the following measures:

a) Transfer the outstanding balance of the special loan into overdue status in accordance with the State Bank of Vietnam's method for calculating and accounting for interest in activities involving deposits and loans between the State Bank of Vietnam and financial institutions and other organizations;

b) Deduct funds from the deposit insurance corporation’s account at the State Bank of Vietnam to recover the overdue special loan within five working days from the date of notification by the State Bank of Vietnam to the deposit insurance corporation regarding the deduction of funds from its account for recovery; if the full amount due is not recovered, the State Bank of Vietnam will continue to monitor and deduct funds from the deposit insurance corporation’s account until all debts are repaid.

7. In case the deposit insurance corporation fails to repay as required by paragraphs 4 and 5 of this Article, the State Bank of Vietnam shall recover the overdue special loan on the next working day after the deadline for repayment specified in paragraphs 4 and 5 of this Article; if the full amount due is not recovered, the State Bank of Vietnam will continue to monitor and deduct funds from the deposit insurance corporation’s account until all debts are repaid.”.

Article 8. Amendment and Supplement to Chapter IV Title

Chapter IV

SPECIAL LOAN MATTERS OF DEPOSIT INSURANCE ORGANIZATION,

OTHER CREDIT ORGANIZATIONS”

Article 9. Amendment and Supplement to Certain Clauses of Article 30

1. Amend and supplement Clause 1 as follows:

“1. When there is a need for special loan in accordance with point c, clause 1, Article 35 Law No. 111/2025/QH15, points a of clauses 2 and 3, Article 4 of this Circular, the credit organization submits an application to the deposit insurance organization, other credit organizations according to internal regulations of the deposit insurance organization, other credit organizations regarding special loan for credit organizations.”

2. Supplement the phrase “deposit insurance organization,” before the phrase “other credit organizations” in Clause 2.

3. Amend and supplement Clause 3 as follows:

“3. The deposit insurance organization, other credit organizations consider and decide on the special loan application of the credit organization according to their internal regulations regarding special loans.”

4. Amend and supplement the heading of Clause 4 as follows:

“4. When there is a need for extension of the term of the special loan in accordance with point c, clause 1, Article 35 Law No. 111/2025/QH15, points a of clauses 2 and 3, Article 4 of this Circular:”

Article 10. Amendment and Supplement to Article 31

“Article 31. Procedure for Special Loan, Extension of the Term of Special Loan to Implement Approved Recovery Plan or Mandatory Transfer Plan

1. When there is a need for special loan, extension of the term of special loan in accordance with points a and b, clause 1, Article 35 Law No. 111/2025/QH15, point b, clauses 2 and b, c, clause 3, Article 4 of this Circular, the credit organization submits an application to the deposit insurance organization, other credit organizations according to internal regulations of the deposit insurance organization, other credit organizations regarding special loan for credit organizations.

2. The deposit insurance organization, other credit organizations decide on the special loan and extension of the term of special loan in accordance with their internal regulations regarding special loans for credit organizations and consistent with the recovery plan or mandatory transfer plan approved by the borrower.”

Article 11. Supplement Title to Section 1 after Title V

“Section 1

RESPONSIBILITIES OF THE PARTIES IN CASES

OF SPECIAL LOAN FOR CREDIT ORGANIZATIONS”

Article 12. Amendment and Supplement to Point b of Clause 7, Article 32

“b) Lender of the special loan (for cases where a deposit insurance organization or other credit organization provides a special loan).”

Article 13. Amendment and Supplement to Article 34

1. Amend the title of Article 34 as follows:

“Article 34. Responsibilities of the Deposit Insurance Organization, Credit Organization Providing Special Loan.”

2. Insert the phrase “Clause 1a,” before the phrase “Clause 2” in Clause 3.

Article 14. Supplement Clause 6a after Clause 6, Article 35

“6a. Provide information to the lender of the special loan (deposit insurance organization or other credit organization) regarding issues arising related to the special loan and propose measures for handling (if any).”

Article 15. Supplement Section 2 after Article 36

“Section 2

RESPONSIBILITIES OF THE PARTIES IN CASES

OF SPECIAL LOAN FOR DEPOSIT INSURANCE ORGANIZATION

Article 36a. Responsibilities of the Deposit Insurance Organization

1. Provide complete, timely, and accurate information to the People's Bank of China regarding special loans and extensions of the term of special loans; bear legal responsibility for the accuracy and legality of the content and data in the provided documents; and be responsible for compliance with relevant laws and regulations concerning payment of insurance premiums to depositors.

2. Use funds from special loans according to their intended purpose, repay such loans in accordance with this Circular, the loan agreement signed, and applicable laws and regulations.

3. Enter into a loan agreement for special loans, receive disbursement of special loan funds, and repay such loans in accordance with this Circular.

4. Fulfill other responsibilities as stipulated in this Circular, relevant laws and regulations, and the signed loan agreement.

Article 36b. Responsibilities of Units Under the People's Bank of China

1. Monetary Policy Department:

Serve as the primary department to submit matters for review and decision by the Governor of the People's Bank of China regarding special loans and extensions of the term of special loans in accordance with this Circular.

2. Credit Supervision Bureau:

a) Coordinate with the Monetary Policy Department to implement provisions under paragraph 1 of this Article;

b) Monitor and handle, within its authority, matters related to deposit insurance organizations' compliance with regulations in this Circular;

c) In case of receiving notifications from competent authorities or through supervisory work identifying that a deposit insurance organization has misused special loan funds or failed to repay such loans according to the provisions under paragraph 3 of Decision No. 29d, this Circular, issue a violation notification to the deposit insurance organization and its branch office, simultaneously sending it to the Monetary Policy Department;

d) Fulfill other responsibilities as stipulated in this Circular.

3. People's Bank of China Inspectorate:

a) Coordinate with the Monetary Policy Department to implement provisions under paragraph 1 of this Article;

b) Conduct inspections and handle violations within its authority related to deposit insurance organizations' compliance with regulations in this Circular;

c) In case of identifying through inspection that a deposit insurance organization has misused special loan funds or failed to repay such loans according to the provisions under paragraph 3 of Decision No. 29d, this Circular, issue a violation notification to the deposit insurance organization and its branch office, simultaneously sending it to the Monetary Policy Department and Credit Supervision Bureau;

d) Fulfill other responsibilities as stipulated in this Circular.

4. Branch Office:

a) Enter into special loan agreements according to Appendix VII attached to this Circular, disburse and collect payments for special loans in accordance with this Circular, the decision on special loan, extension of term of special loan, and relevant laws and regulations;

b) Fulfill provisions under paragraphs 6 and 7 of Decision No. 29d, this Circular.

c) Within the first 7 working days of the month following the month in which there is a special loan balance or changes to the special loan for deposit insurance organizations, report to the Governor of the State Bank, and simultaneously send data on special loans to deposit insurance organizations as specified in Appendix VIII attached to this Circular to the Department of Supervision of Credit Institutions, Monetary Policy Department.

5. Financial Accounting Department:

Guide accounting entries related to the State Bank's special loan to deposit insurance organizations.

6. Relevant Units of the State Bank:

Coordinate handling issues related to special loans and extensions of the term of special loans as provided in this Circular according to the Governor of the State Bank’s instructions or at the request of the lead unit for matters within their functions and responsibilities.

Article 16. Amendment and Supplement to Title, Content of Basis, and Appendices Attached to Circular No. 35/2025/TT-NHNN

1. Remove the phrase "for credit institutions" from the title of this Circular.

2. Add the phrase "Based on the Deposit Insurance Law No. 111/2025/QH15;" after the phrase "Based on the Credit Institutions Law No. 32/2024/QH15, amended and supplemented by Laws Nos. 43/2024/QH15 and 96/2025/QH15;"

3. Add the phrase "deposit insurance organization," before the phrase "credit institution for special loan" in Point 1 and Point 2 of Part Guidance on Filling Out Forms in Appendix VI attached to Circular No. 35/2025/TT-NHNN.

4. Add Appendices VII and VIII as provided in this Circular.

Article 17. Effective Date

This Circular shall take effect from May 1, 2026.

Article 18. Implementation Responsibility

Heads of units under the State Bank, special control boards for credit institutions being specially controlled, deposit insurance organizations, and credit institutions are responsible for implementing this Circular./.