Circular No. 27/2017/TT-NHNN amending and supplementing certain provisions of Circular No. 03/2013/TT-NHNN dated January 28, 2013 of the Governor of the State Bank of Vietnam on credit information activities of the State Bank of Vietnam.

CIRCULAR

Amending and supplementing certain articles of Circular No. 03/2013/TT-NHNN dated January 28, 2013 issued by the Governor of the State Bank of Vietnam on the activities of credit information of the State Bank of Vietnam

January 28, 2013

concerning the activities of credit information of the State Bank of Vietnam

Pursuant to the Law on National Financial Management dated June 25, 2015;âof the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2004010;

Pursuant to the Law Amending and Supplementing Certain Articles of the Law on Credit Institutions dated November 20, 2017;

Pursuant to Decree No. 16/2017/NĐ-CP dated January 17 the 02 Article 2. The receipt, handling of reflections and petitions from individuals and organizations concerning administrative regulations shall be carried out in accordance with Decree No. 20/2008/NĐ-CP dated February 14, 2008 of the Government on the receipt, handling of reflections and petitions from individuals and organizations concerning administrative regulations (amended and supplemented by Decree No. 48/2013/NĐ-CP dated May 14, 2013 on amending and supplementing certain articles of decrees related to administrative procedure control and Decree No. 92/2017/NĐ-CP dated August 7, 2017 on amending and supplementing certain articles of decrees related to administrative procedure control).7 specialized agency under the People's Committee of the province/city.Deputy ministers of ministerial-level agencies,of the Government stipulating functions, tasks, powersonand organizational structure of ;

At the proposal of the Head of the Finance - Accounting,

The Governor of the State Bank of Vietnam promulgates this Circular amending and supplementing certain articles of Circular No. 03/2013/TT-NHNN dated January 28, 2013 issued by the Governor of the State Bank of Vietnam on the activities of credit information of the State Bank of VietnamNo. of Circular No.No. 03/2013/TT-NHNN dated January 28, 2013 2013 of Governor State Bank of Vietnam concerning the activities of credit information of the State Bank of Vietnam.

Article 1. Amending and supplementing certain articles of Circular No. 03/2013/TT-NHNN dated January 28, 2013 issued by the Governor of the State Bank of Vietnam on the activities of credit information of the State Bank of Vietnam

1. Clause 3 shall be amended and supplemented as follows:

a. Clause 4 of Article 3 shall be amended and supplemented as follows:

"4. Borrowers who are legal entities or individuals having credit relationships with credit institutions and foreign bank branches."

b. Point a of Clause 8 of Article 3 shall be amended and supplemented as follows:

"a. Companies with functions of buying and selling debts, companies managing debts and exploiting assets, credit information companies, enterprises operating insurance and securities services;"

c. Clause 12 shall be added to Article 3 as follows:

“12. A foreign credit information organization is an organization established and operating under the laws of a foreign country regarding credit information.”

2. Clause 1 of Article 5 shall be amended and supplemented as follows:

"1. Comply with the provisions of the law on protecting state secrets, personal secrets, and other relevant laws when providing and exploiting credit information."

3. Clause 1 of Article 7 shall be amended and supplemented as follows:

"1. Credit institutions and foreign bank branches provide the CIC with the entire set of credit information indicators specified in Appendix 1 attached hereto and divided into the following groups of indicators:

a) Identification information;

b) Credit contract information;

c) Credit relationship information;

d) Information on credit card account status;

e) Collateral information for loans;

g) Financial year information of borrowing enterprises, including balance sheets, income statements, cash flow statements as prescribed by the Ministry of Finance;

h) Bond investment information in borrowing enterprises."

4. Clause 7 shall be added to Article 10 as follows:

"7. Foreign credit information organizations may exploit credit information products about enterprises, including those publicly disclosed according to the law based on memorandums of understanding, cooperation agreements, service contracts signed with the CIC."

5. Article 12 shall be amended and supplemented as follows:

a. Clause 5 of Article 12 shall be amended and supplemented as follows:

"5. Publicize information on principles, scope of use of credit information services, procedures for exploitation and use of credit information services, fees for exploitation and use of credit information services to users."

b. Clause 7 of Article 12 shall be amended and supplemented as follows:

"7. Sign contracts and collect fees for exploitation and use of credit information services from units and individuals using such services in accordance with the regulations of the State Bank of Vietnam and the CIC."

c. Clause 12 shall be added to Article 12 as follows:

“12. Sign memorandums of understanding, cooperation agreements, or service contracts with foreign credit information organizations in compliance with the laws of each country to cooperate in sharing experiences and exchanging credit information products.”

6. Clause 5 of Article 14 shall be amended and supplemented as follows:

"5. Pay fully and promptly the fees for exploitation and use of credit information services as agreed upon in the contract."

7. Clause 4 of Article 15 shall be amended and supplemented as follows:

"4. Pay fully and promptly the fees for exploitation and use of credit information services as agreed upon in the contract."

8. Clause 6 of Article 16 shall be amended and supplemented as follows:

"6. Pay fully and promptly the fees for exploitation and use of credit information services in accordance with the regulations of the CIC."

Article 2.

1. Replacing the System of Credit Information Indicators issued together with Circular No. 03/2013/TT-NHNN with Appendix 1 issued together with this Circular.

2. Changing the phrase "Credit Information Center" to "National Credit Information Center of Vietnam"; "Director of the Credit Information Center" to "General Director of the National Credit Information Center of Vietnam" in Article 1, Article 12, Clause 1 of Article 21 of Circular No. 03/2013/TT-NHNN.

3. Changing the phrase "Department of Forecasting and Monetary Statistics" to "Department of Forecasting and Statistics"; "Department of Credit" to "Department of Credit for Economic Sectors" in point b, d of Clause 2 of Article 13 of Circular No. 03/2013/TT-NHNN.

Article 3. Implementation Organization

The Head of the Office, Department Heads of the Finance - Accounting Department, General Director of the National Credit Information Center of Vietnam, heads of units under the State Bank of Vietnam; Governors of the State Bank of Vietnam branches in provinces and centrally-administered cities; Chairmen of the Board of Directors, Chairmen of the Board of Members, General Directors (Directors) of credit institutions and foreign bank branches are responsible for organizing the implementation of this Circular.

Article 4. Implementation provisions

This Circular takes effect from July 1, 2018.