Circular No. 26/2014/TT-NHNN stipulates the State Bank of Vietnam’s refinancing to credit institutions in Vietnamese dong pursuant to Decision No. 540/QĐ-TTG dated April 16, 2014 of the Prime Minister on credit policies for shrimp and catfish farmers.

CIRCULAR

Regulations on the State Bank of Vietnam's rediscounting of domestic currency for credit institutionsin accordance with Decision No. 540/QĐ-TTg dated April 16, 2014of the Government on credit policiesforfor shrimp farmers and catfish farmers

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  Pursuant to the Foreign Exchange Law No. 28/2005/PL-UBTVQH11 dated December 13, 2005 and the Law Amending and Supplementing Certain Provisions of the Foreign Exchange Law No. 06/2013/UBTVQH13 dated March 18, 2013;

  Pursuant to the Law on Credit Institutions No. 47/2010/QH12 dated June 16, 2010;

  The Governor of the State Bank of Vietnam hereby promulgates this Circular amending and supplementing certain Articles of Circular No. 24/2015/TT-NHNN dated December 8, 2015 of the Governor of the State Bank of Vietnam on foreign currency loans granted by credit institutions and branches of foreign banks to resident borrowers.

  Pursuant to Decision No. 540/QĐ-TTg dated April 16, 2014 of the Prime Minister on credit policies for shrimp farmers and catfish farmers;

Article 1. Amending and supplementing Point c Clause 1 Article 3 of Circular No. 24/2015/TT-NHNN

  The Governor of the State Bank of Vietnam hereby promulgates this Circular stipulating the State Bank of Vietnam's rediscounting of domestic currency for credit institutions in accordance with Decision No. 540/QĐ-TTg dated April 16, 2014 of the Prime Minister on credit policies for shrimp farmers and catfish farmers.

Article 1. Scope of Regulation and Applicability

2. Applicability:

This Circular stipulates the State Bank of Vietnam’s (hereinafter referred to as the State Bank) rediscounting of domestic currency for credit institutions in accordance with Decision No. 540/QĐ-TTg dated April 16, 2014 of THEDeputy ministers of ministerial-level agencies, organize credit institutions, foreign bank branches are responsible for organizing the implementation of this Circular.ướenergy Standing Committee of the National AssemblyDeputy ministers of ministerial-level agencies, von the credit policy|||energy . The Department of Environmental Health Inspection - Ministry of Health shall be responsible for disseminating, guiding, and supervising the implementation of this Circular throughout the country.vesớfor shrimp and catfish farmers (hereinafter referred to as1. Fulfilling requirements stipulated in Article 13 of Decree No. 135/2021/NĐ-CP.540/Q đ-TTg).Briefing signed on February 18, 2025Credit institutions shall implement debt moratoriums for households, farm owners, cooperatives engaged in shrimp and catfish farming experiencing difficulties in production and repayment to credit institutions up to December 31, 2013 (hereinafter referred to as customers). REGULATIONpoliciesorganize credit institutions, foreign bank branches are responsible for organizing the implementation of this Circular. This Circular promulgates the Regulation on Distance Learning for Bachelor's Degree Programs.This Circular takes effect from February 12, 2024, and applies to distance learning bachelor's degree programs admitted after the date this Circular comes into force.No. Article 2. Rediscounting Amount3. Amend Clause 3 Article 2 as follows:The amount of rediscounting by the State Bank for credit institutions corresponds to the amount of debt moratoriums implemented by credit institutions for customers in accordance with Decision No. 540/QĐ-TTg.

第二条 组织和实施奖励工作的支出水平，如政府第152/2025/NĐ-CP号决定关于分级授权和奖励领域的分权规定

Article 3. Rediscounting Period, Extension of Rediscounting Period

The rediscounting period is 364 days and is automatically extended for any remaining outstanding balance at maturity. Each extension period is equal to the initial rediscounting period. For the final extension, the total period of rediscounting and extensions must be three years from the date of disbursement of the rediscounted loan.

Article 4. Rediscounting Interest Rate

1. The rediscounting interest rate during the rediscounting period and extension period as stipulated in Article 3 of this Circular is 0%/year.

2. The overdue rediscounting interest rate is 150% of the rediscounting interest rate published by the State Bank at the time of transferring the overdue loan.

Article 5. Procedure for Rediscounting

1. Credit institutions directly send or mail four sets of rediscounting application files to the State Bank (Department of Monetary Policy). The rediscounting application file includes:

a) Application for rediscounting according to Appendix No. 01 issued together with this Circular.

b) Report on the list of eligible customers who have been granted debt moratoriums according to Appendix No. 02 issued together with this Circular.

2. Within two working days from the date of receipt of all rediscounting application files, the Department of Monetary Policy forwards the credit institution's rediscounting application files to the Department of Credit Policies for Industries and Economic Sectors and the Banking Supervision Authority for comments.

3. Within seven working days from the date of receipt of the Department of Monetary Policy's request, the Department of Credit Policies for Industries and Economic Sectors and the Banking Supervision Authority provide their comments to the Department of Monetary Policy.

4. Within seven working days from the date of receipt of all unit comments, the Department of Monetary Policy submits to the Governor of the State Bank for consideration and decision.

5. Based on the Governor of the State Bank's decision on rediscounting for credit institutions, the State Bank Trading Department implements the agreement to sign contracts, disburse rediscounting funds, and extend rediscounting periods for credit institutions.

3. Within seven working days from the date of receipt of the request from the Department of Monetary Policy, the Department of Credit Policies for Economic Sectors, and the Banking Supervision Authority shall provide their opinions to the Department of Monetary Policy.

4. Within seven working days from the date of receiving complete opinions from all units, the Department of Monetary Policy shall submit to the Governor of the State Bank for consideration and decision.

5. Based on the decision of the Governor of the State Bank regarding the provision of refinancing to credit institutions, the State Bank's Trading Department shall implement the agreement, sign contracts, disburse refinancing, and extend refinancing periods for credit institutions.

Article 6. Authority to Sign Documents of Credit Institutions

The person authorized to sign documents regarding borrowing from the State Bank on behalf of credit institutions shall be the legitimate representative of such credit institution.

Article 7. Repayment of Borrowed Funds for Refinancing

1. Within three years from the date of receiving disbursement of refinancing loans, credit institutions must fully repay the refinancing loan to the State Bank.

2. Credit institutions may repay refinancing loans ahead of schedule to the State Bank in the following cases:

a) When customers have repaid their debts to the credit institutions during the period of debt write-off. Within ten working days at the beginning of each month, the credit institution shall repay to the State Bank the corresponding amount of money that the customer has repaid to the credit institution in the previous month.

b) Other cases requiring early repayment of refinancing loans as prescribed by law.

Article 8. Handling of Credit Institutions' Failure to Repay Loans on Time

In case credit institutions fail to repay refinancing loans on time as stipulated in Clause 1, Article 7 of this Circular, the State Bank will transfer the remaining refinancing debt of the credit institution to overdue debt and apply the interest rate for overdue refinancing loans as prescribed in Clause 2, Article 4 of this Circular from the day of overdue, while implementing measures to recover the debt:

1. Deducting funds from the credit institution's deposit account at the State Bank.

2. Recovering principal and interest from other sources of the credit institution.

3. Other measures as prescribed by law.

Article 9. Responsibilities of credit organizations

1. Shall bear legal responsibility for the accuracy and legality of all submitted files, data, and documents to the State Bank.

2. Timely and accurately track and record debts written off according to Decision No. 540/QD-TTg to serve internal auditing, reporting to the State Bank, and inspection and supervision by competent authorities.

3. Repay refinancing loans in accordance with this Circular.

4. Be subject to supervision, inspection, and audit by the State Bank in compliance with the provisions of this Circular.

5. Report to the State Bank within ten working days at the beginning of each month on the repayment of customers who have been written off according to Appendix No. 03 issued together with this Circular.

6. Fulfill other responsibilities as prescribed by law.

Article 10. Responsibilities of Units under the State Bank

1. Department of Monetary Policy:

Shall take the lead and coordinate with relevant units to submit to the Governor of the State Bank for consideration and decision on refinancing for credit institutions and handle issues arising during the implementation of this Circular.

2. Department of Credit for Economic Sectors:

Provide opinions to the Department of Monetary Policy within the deadline specified in Clause 3, Article 5 of this Circular on the following contents:

a) Requests for refinancing from credit institutions.

b) Amounts of debts written off by credit institutions for customers.

c) Results of verification and comparison of the rationality and appropriateness of indicators in the list of customers eligible for debt write-off prepared by credit institutions to borrow refinancing from the State Bank.

3. Banking Inspection and Supervision Authority:

a) Provide opinions to the Department of Monetary Policy on requests for refinancing from credit institutions within the deadline specified in Clause 3, Article 5 of this Circular.

b) Take the lead and coordinate with the State Bank branch in provinces and cities in supervising, inspecting, and auditing compliance with the provisions of this Circular; handle cases within their authority and recommend the Governor of the State Bank to handle violations of this Circular and related regulations.

4. State Bank Trading Department:

a) Agree to sign refinancing contracts between the State Bank and credit institutions.

b) Implement disbursement, extension, and recovery of refinancing loans of credit institutions according to the signed contract and the provisions of this Circular; take the lead and coordinate with relevant units to submit to the Governor of the State Bank measures to recover refinancing loans in case credit institutions fail to repay on time.

c) Conduct accounting and monitor refinancing transactions.

d) Report to the Governor of the State Bank within ten working days at the beginning of each quarter on lending and recovering refinancing loans from credit institutions as stipulated in Appendix No. 04 issued together with this Circular, and send it to the Department of Credit for Economic Sectors, Banking Supervision Agency, and the Department of Monetary Policy.

5. Department of Finance and Accounting:

Guide accounting entries for refinancing operations of the State Bank for credit institutions according to Decision No. 540/QD-TTg.

6. State Bank Branches in Provinces and Central Cities:

Supervise, inspect, and audit credit institutions and branches of credit institutions in their jurisdiction in compliance with the provisions of this Circular; handle cases within their authority and recommend the Governor of the State Bank to handle violations according to current regulations; report to the Governor of the State Bank (through the Banking Supervision Agency) on the results of implementation.

Article 11. Implementation Provisions

1. This Circular takes effect from November 1, 2014.

2. The Director of the Office, Heads of the Department of Monetary Policy, heads of units under the State Bank; Governors of State Bank branches in provinces and central cities; Chairmen of the Board of Members, Chairmen of the Board of Directors, and General Managers (Directors) of credit institutions are responsible for implementing this Circular.