Circular No. 37/2025/TT-NHNN amending and supplementing certain provisions of Circular No. 31/2024/TT-NHNN of the Governor of the State Bank of Vietnam on the classification of assets in the operations of commercial banks, non-bank credit institutions, and foreign bank branches.

CIRCULAR

To amend and supplement some articles of Circular No. 31/2024/TT-NHNN issued by

the Governor of the State Bank of Vietnametermining for on asset classification

in the operation of commercial banks, non-bank credit institutions,

foreign bank branches

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12;

Pursuant to the Law on Credit Organizations No. 32/2024/QH15 amended and supplemented by Law No. 96/2025/QH15;

Pursuant to Decree No. 26/2025/NĐ-CP of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

At the proposal of the Director of the Credit Institution System Safety Department;

The Governor of the State Bank of Vietnam issues this Circular amending and supplementing some articles of Circular No. 31/2024/TT-NHNN dated June 30, 2024, issued by the Governor of the State Bank of Vietnam on asset classification in the operation of commercial banks, non-bank credit institutions, and foreign bank branches.

Article 1. Amend and supplement Clause 5 of Article 5

"5. Banks and non-bank credit institutions shall report to the State Bank of Vietnam in accordance with Clause 4 of this Article as follows:

a) Banks and non-bank credit institutions shall report to the State Bank of Vietnam (Credit Institution Management and Supervision Department), except for cases provided for in point b of this clause;

b) Foreign bank branches subject to micro-prudential supervision by the State Bank of Vietnam Regional Branches shall report to those Regional Branches."

Article 2. Amend and supplement Clause 2 of Article 7

"2. Banks and non-bank credit institutions shall report to the State Bank of Vietnam in accordance with Clause 1 of this Article as follows:"

a) Banks and non-bank credit institutions shall report to the State Bank of Vietnam (Credit Institution Management and Supervision Department), except for cases provided for in point b of this clause;

b) Foreign bank branches subject to micro-prudential supervision by the State Bank of Vietnam Regional Branches shall report to those Regional Branches."

Article 3. Amend and supplement Clause 4 of Article 11

"4. Within twenty (20) days from the date of receiving complete and valid files as prescribed in Clause 3 of this Article, the State Bank of Vietnam shall issue a document approving the bank or non-bank credit institution to implement loan classification and off-balance sheet commitments according to the qualitative method prescribed in this Article. In case of disapproval, the State Bank of Vietnam shall issue a document stating the reasons."

Article 4. Amend and supplement some clauses of Article 14

1. Amend and supplement Clause 1 of Article 14 as follows:

"1. The State Bank Inspection Agency and the Credit Institution Management and Supervision Department shall be responsible for:

a) The State Bank Inspection Agency shall be responsible for inspecting and handling violations in the implementation of loan classification, off-balance sheet commitments, and provisions for risk management by banks and non-bank credit institutions within its authority and in accordance with the law;

b) The Credit Institution Management and Supervision Department shall be responsible for:

(i) Receiving the internal credit rating system of banks and non-bank credit institutions as prescribed in Article 5 and internal policies on credit granting, debt management, and risk provision as prescribed in Article 7 of this Circular;

(ii) Monitoring and handling violations in the implementation of loan classification, off-balance sheet commitments, and provisions for risk management by banks and non-bank credit institutions within its authority and in accordance with the law;

(iii) Processing applications from foreign bank branches for applying the risk provision policy of the parent bank and requests from banks, non-bank credit institutions, and foreign bank branches for implementing loan classification and off-balance sheet commitments according to the qualitative method."

2. Amend Clause 2 of Article 14 as follows:

"2. The Forecasting, Statistics - Monetary Stability and Financial Stability Department shall be the focal point, coordinating with relevant units to submit to the Governor of the State Bank of Vietnam regulations on reporting and statistical systems for loan classification, off-balance sheet commitments, and provisions for risk management in the operations of banks and non-bank credit institutions."

3. Amend and supplement Clause 5 of Article 14 as follows:

"5. The State Bank Regional Branches shall be responsible for:

a) Receiving the internal credit rating system of foreign bank branches as prescribed in Article 5 and internal policies on credit granting, debt management, and risk provision of foreign bank branches as prescribed in Article 7 of this Circular;

b) Inspecting, monitoring, and handling violations in the implementation of loan classification, off-balance sheet commitments, and provisions for risk management by banks and non-bank credit institutions within its jurisdiction and in accordance with the law;

c) Processing applications from foreign bank branches for applying the risk provision policy of the parent bank and implementing loan classification and off-balance sheet commitments according to the qualitative method."

Article 5. Amending and supplementing Article 17

"Article 17. Responsibility for organizing implementation The heads of units under the State Bank of Vietnam, commercial banks, non-bank credit organizations, and foreign bank branches shall be responsible for organizing the implementation of this Circular."

Article 6. Responsibility for Organizing Implementation

The heads of units under the State Bank of Vietnam, commercial banks, non-bank credit organizations, and foreign bank branches shall be responsible for organizing the implementation of this Circular.

Article 7. Implementation Provisions

This Circular takes effect from December 15, 2025./.