Decision No. 559/2002/QĐ-NHNN on supplementing certain accounts to the accounting account system of credit organizations.

DECISION OF THE GOVERNOR OF THE STATE BANK OF VIETNAM

REGARDING THE SUPPLEMENTATION OF CERTAIN ACCOUNTS

 INTO THE ACCOUNTING SYSTEM OF CREDIT ORGANIZATIONS.

GOVERNOR OF THE STATE BANK NƯỚC

WHEREAS Law on Credit Organizations No. 02/1997/QH10 dated December 12, 1997;

Pursuant to Decree No. 15/ dated October 20, 2015 of Decision No. 02/03/1993 of the Government on the tasks, powers, and responsibilities for state management of Ministries and agencies at the level of ministries;

BASED ON Decision No. 149/2001/QĐ-TTg dated October 5, 2001 of the Prime Minister approving the Project on Handling Overdue Debts of Commercial Banks; and Decision No. 150/2001/QĐ-TTg dated October 5, 2001 of the Prime Minister on the establishment of companies managing debts and exploiting assets under commercial banks;

AT THE PROPOSAL OF THE HEAD OF THE ACCOUNTING AND FINANCE DEPARTMENT OF THE STATE BANK;

DECISION:

Article 1. SUPPLEMENT CERTAIN ACCOUNTS INTO THE ACCOUNTING SYSTEM OF CREDIT ORGANIZATIONS ISSUED PURSUANT TO DECISION NO. 435/1998/QĐ-NHNN2 DATED DECEMBER 25, 1998 OF THE GOVERNOR OF THE STATE BANK AS FOLLOWS:

1. Account 283 - Overdue Debts with Collateral. This account is used to reflect overdue debts with collateral of commercial banks being handled according to Decision No. 149/2001/QĐ-TTg dated October 5, 2001 of the Prime Minister.

Debit SideTTg dated November 7, 2002 of the Prime Minister).Record: - Balance of Debit - Reflecting the amount of overdue debts with collateral that have not yet been resolved.

Detailed Accounting: Open detailed accounts according to each overdue debt with collateral that have not yet been resolved; or according to each collateralized debt (if this asset has already been assigned to debt, thereby the bank has reduced the loan amount for the borrower in accordance with current laws) that have not yet been resolved (sold). 2. Account 284 - Overdue Debts without Collateral and No Debtors.

This account is used to reflect overdue debts without collateral and no debtors of commercial banks being handled according to Decision No. 149/2001/QĐ-TTg dated October 5, 2001 of the Prime Minister.

Overdue debts without collateral but debtors still exist and are operating. Credit Side

Record: The amount of overdue debts without collateral but debtors still exist and are operating that have been resolved according to regulations. The amount of overdue debts with collateral transferred for resolution.

Debit Balance: Reflecting the amount of overdue debts without collateral but debtors still exist and are operating that have not yet been resolved.

Detailed Accounting: Open detailed accounts according to each overdue debt with collateral that have not yet been resolved; or according to each collateralized debt (if this asset has already been assigned to debt, thereby the bank has reduced the loan amount for the borrower in accordance with current laws) that have not yet been resolved (sold). 2. Account 284 - Overdue Debts without Collateral and No Debtors. Detailed Accounts according to overdue debts without collateral but debtors still exist and are operating that have not yet been resolved.

4. Account 365 - Costs of Handling Collateralized Debts. This account is used to reflect costs of handling collateralized debts such as investment in upgrading, improving, repairing collateralized debts for sale or exploitation; renting security guards, insurance for collateralized debts; advertising, brokerage for selling or leasing collateralized debts and other costs of handling collateralized debts as prescribed to resolve overdue debts of commercial banks according to Decision No. 149/2001/QĐ-TTg dated October 5, 2001 of the Prime Minister.

Record: - Cost of handling collateralized debts.

or debit balance difference

Overdue debts without collateral but debtors still exist and are operating. <span lang="EN-GB style="font-size:12.0pt;mso-bidi-font-size:13.5pt;font-family:'Times New Roman'">

frombuying and selling debts that have not yet been resolved.

Detailed Accounts according to each debt that has been bought and sold.

Detailed Accounting: Open detailed accounts according to each overdue debt with collateral that have not yet been resolved; or according to each collateralized debt (if this asset has already been assigned to debt, thereby the bank has reduced the loan amount for the borrower in accordance with current laws) that have not yet been resolved (sold). 7. In Account 469 "Other Amounts Awaiting Settlement" supplement the following third-level accounts:

4. Account 365 - Costs of Handling Collateralized Debts. 2. Account 284 - Overdue Debts without Collateral and No Debtors. a) Account 4691 - Revenue from Selling Debts, Collateralized Debts, or Exploiting Collateralized Debts.This account reflects the revenue from selling debts, collateralized debts, or exploiting collateralized debts and the recovery of debts and other receivables from these revenues. Record: Revenue from selling debts, collateralized debts, or exploiting collateralized debts.

Overdue debts without collateral but debtors still exist and are operating. Record: Recovery of debts and other receivables from the revenue from selling debts, collateralized debts, or exploiting collateralized debts.

Credit Balance: Reflecting the revenue from selling debts, collateralized debts, or exploiting collateralized debts that have not yet been resolved.

Detailed Accounts according to each debt or collateralized debt that has been sold or exploited. b) Account 4699 - Other Amounts Awaiting Settlement.

This account is used to reflect amounts awaiting settlement generated during the operation of credit organizations outside the contents already recorded in appropriate accounts.

4. Account 365 - Costs of Handling Collateralized Debts. Record: Unsettled amounts.

Detailed Accounting: Open detailed accounts according to each overdue debt with collateral that have not yet been resolved; or according to each collateralized debt (if this asset has already been assigned to debt, thereby the bank has reduced the loan amount for the borrower in accordance with current laws) that have not yet been resolved (sold). Record: Settled amounts.

Credit Balance: Reflecting unsettled amounts of credit organizations..

Overdue debts without collateral but debtors still exist and are operating. Detailed Accounting: Open detailed accounts according to each amount awaiting settlement.

8. Account 477 - Value of Debts Received by Commercial Banks for Management and Exploitation.

Appendix This account is opened at the company managing debts and exploiting assets, reflecting the receipt of overdue principal debts from commercial banks established through agency contracts for handling

4. Account 365 - Costs of Handling Collateralized Debts. <span lang="EN-GB style="font-size:12.0pt;mso-bidi-font-size:13.5pt;font-family:'Times New Roman'">QĐ-

Detailed Accounting: Open detailed accounts according to each overdue debt with collateral that have not yet been resolved; or according to each collateralized debt (if this asset has already been assigned to debt, thereby the bank has reduced the loan amount for the borrower in accordance with current laws) that have not yet been resolved (sold). TTgdated October 5, 2001 of the Prime Minister.

Record: Overdue principal debts received from commercial banks.

Record: Transfer recovered overdue principal debts to commercial banks.

Write off the remaining value of overdue principal debts not recovered to transfer back to commercial banks (after full recovery and transfer, if the total recovered amount is less than the overdue principal debt).

Credit Balance: Reflecting the remaining value of overdue principal debts received from commercial banks. Detailed Accounts according to each overdue principal debt received from commercial banks.9. Account 997 - Assets Received from Commercial Banks or from Purchasing Debts.This account is used to reflect collateralized debts entrusted to the company managing debts and exploiting assets from commercial banks established through agency contracts or

4. Account 365 - Costs of Handling Collateralized Debts. from purchasing debts.

Detailed Accounting: Open detailed accounts according to each overdue debt with collateral that have not yet been resolved; or according to each collateralized debt (if this asset has already been assigned to debt, thereby the bank has reduced the loan amount for the borrower in accordance with current laws) that have not yet been resolved (sold). Debit Side

Record: Value of collateralized debts entrusted from commercial banks or from purchasing debts.

Credit Side

Overdue debts without collateral but debtors still exist and are operating. Record: Value of assets processed according to regulations:

Remaining: Reflecting the value of collateralized debts entrusted from commercial banks or from purchasing debts managed at the company.

Detailed Accounts according to each collateralized debt entrusted from commercial banks or from purchasing debts: In addition to the detailed account book, a detailed record of collateralized debts of each borrowing organization or individual must be maintained. from purchasing debt.

The Importer records: The value of the collateral assets received on trust from a commercial bank or from purchasing debt.

The Exporter records: The value of the assets processed in accordance with the regulations:

Number Remaining: Reflects the value of the collateral assets received on trust from a commercial bank or from purchasing debt currently managed by the company.

Overdue debts without collateral but debtors still exist and are operating. detailed account for each collateral asset received on trust from a commercial bank or from purchasing debt: In addition to the detailed account book, a detailed record of the collateral assets of each borrowing organization or individual must be maintained.

Article 2. This Decision takes effect from the date of signature.

Article 3The Director of the Office, the Head of the Accounting-Finance Department, the Heads of units under the State Bank, the Branch Directors of the State Bank in provinces and centrally governed cities, the General Directors, Directors, and Chairmen of the Management Boards of credit organizations are responsible for implementing this Decision./.