Decision No. 451/1999/QĐ-NHNN1 on providing refinancing loans to state-owned commercial banks to address the aftermath of floods in central provinces in 1999

Pursuant to …;

On providing refinancing loans to state-owned commercial banks to address the aftermath of floods in central provinces in 1999

- In accordance with the Law on the State Bank of Vietnam No. 01/1997/QH10 and the Law on Credit Organizations No. 02/1997/QH10 dated December 12, 1997;

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GOVERNOR OF THE STATE BANK OF VIETNAM

- Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government regarding the tasks, powers, and responsibilities for state management of ministries and ministerial-level agencies;

- Based on Decision No. 1073/QĐ-TTg dated November 17, 1999 of the Prime Minister concerning measures to address the aftermath of floods in the provinces and cities of Quảng Bình, Quảng Trị, Thừa Thiên Huế, Đà Nẵng, Quảng Nam, Quảng Ngãi, and Bình Định;

- According to Circular No. 5651/VPCP-KTTH dated December 8, 1999 of the Government Office regarding interest rates and terms for refinancing loans to commercial banks;

Utilize 500 billion VND from the funds allocated for refinancing purposes according to the announcement of the plan to supply money in the fourth quarter of 1999 to provide loans to state-owned commercial banks to address the aftermath of floods in central provinces in 1999 as stipulated in Decision No. 1073/QĐ-TTg dated November 17, 1999 of the Prime Minister.

- At the proposal of the Director of the Monetary Policy Department,

Pursuant to …;

Article 1. The loan term is five years from the date of disbursement. The interest rate for the loan is 0.1% per month.

Article 2. State-owned commercial banks shall use the above-mentioned capital to provide loans in accordance with the intended purpose, target groups, and procedures specified in Decision No. 1073/QĐ-TTg dated November 17, 1999 of the Prime Minister and other directives from the State Bank of Vietnam on providing loans to address the aftermath of floods in central provinces; report to the Governor of the State Bank of Vietnam (through the Credit Department) on the implementation of loans to address the aftermath of floods in central provinces in 1999.

Article 3. Responsibilities of units under the State Bank of Vietnam:

Article 4. 1. The Credit Department is responsible for: within the scope of the capital mentioned in Article 1 of this Decision, based on the demand for flood recovery loans from state-owned commercial banks, notify the State Bank of Vietnam Branch Office of the loan targets for each state-owned commercial bank; compile and report to the Governor of the State Bank of Vietnam (simultaneously send to the Monetary Policy Department) on the implementation of loans to address the aftermath of floods in central provinces in 1999.

2. The State Bank of Vietnam Branch Office: implement loans to state-owned commercial banks according to the targets notified by the Credit Department; report to the Governor of the State Bank of Vietnam (simultaneously send to the Monetary Policy Department and the Credit Department) on the provision of loans to state-owned commercial banks to address the aftermath of floods in central provinces in 1999.

3. The Accounting and Finance Department shall record and guide the accounting for loans to address the aftermath of floods in central provinces in 1999.

The Head of the Office, the Chief Inspector, Heads of relevant units under the State Bank of Vietnam, Chairmen of the Boards of Directors of state-owned commercial banks, General Managers (Directors) of state-owned commercial banks are responsible for implementing this Decision.

Article 5. This Decision shall take effect from the date of signing.

Article 6. The Director of the Office, the Inspector General, the Heads of relevant units under the State Bank, the Chairmen of the Boards of Management of state-owned commercial banks, and the General Directors (Directors) of state-owned commercial banks are responsible for implementing this Decision.