Circular No. 79/2025/TT-NHNN guiding foreign exchange management for lending abroad and recovering foreign debts of credit institutions and foreign bank branches.

CIRCULAR

Guidelines on foreign exchange management for lending abroad and recovering foreign debts of credit institutions and foreign bank branches
foreign debt repayment of credit institutions, overseas branches of foreign banks

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH2;

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

Pursuant to the Foreign Exchange Ordinance No. 28/2005/PL-UBTVQH11 amended and supplemented by Ordinance No. 06/2013/UBTVQH13;

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 Foreign Exchange Management Department;

The Governor of the State Bank of Vietnam issues this Circular guiding foreign exchange management for lending abroad and recovering foreign debts of credit institutions and foreign bank branches.

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

1. This Circular stipulates foreign exchange management for:

a) Lending and recovering foreign debts of credit institutions and foreign bank branches arising from lending activities to non-resident customers (hereinafter referred to as lending abroad);

b) Recovering foreign debts arising from credit provision activities to non-resident customers of credit institutions and foreign bank branches including factoring, letter of credit, bank guarantee, and other credit provision activities as prescribed by law (hereinafter referred to as recovering foreign debts).

2. Matters related to lending and recovering foreign debts of credit institutions and foreign bank branches not covered by this Circular shall be governed by relevant laws.

Article 2. Applicability

1. Credit institutions and foreign bank branches carry out lending, factoring, letter of credit, bank guarantee, and other credit provision activities for non-resident customers.

2. Organizations and individuals related to lending abroad and recovering foreign debts of credit institutions and foreign bank branches.

Article 3. Explanation of Terms

In this Circular, the following terms are understood as follows:

1. The lender abroad is a credit institution or foreign bank branch that conducts lending activities to non-resident customers (hereinafter referred to as the lender).

2. The loan abroad is a loan formed by credit institutions or foreign bank branches from lending activities to non-resident customers as prescribed in this Circular.

3. The debtor abroad is a credit institution or foreign bank branch that recovers foreign debts (hereinafter referred to as the debtor).

4. The debt recovery abroad is a debt formed from credit provision activities including factoring, letter of credit, bank guarantee, and other credit provision activities conducted by credit institutions or foreign bank branches for non-resident customers.

5. Registration of a loan abroad, registration of changes to a loan abroad is the act of the lender registering with the State Bank of Vietnam (hereinafter referred to as the State Bank) regarding the loan abroad or changes to the loan abroad as prescribed in this Circular.

6. Confirmation of registration is a document issued by the State Bank confirming that the lender has registered the loan abroad as prescribed in this Circular.

7. Confirmation of change registration is a document issued by the State Bank confirming that the lender has registered changes to the loan abroad as prescribed in this Circular.

8. Loan agreement is one or a set of documents (including agreements in the form of data messages complying with the provisions of the law on electronic transactions) recording the agreement between the parties, which stipulate the terms and conditions of the loan abroad concerning the purpose of using borrowed funds, lending methods, amount of loan, interest rate, term, repayment period, collateral content, repayment method, and other related commitments.

9. Changed loan agreement is a document (including agreements in the form of data messages complying with the provisions of the law on electronic transactions) recording the agreement between the parties regarding the content of modifying and supplementing the existing loan agreement.

10. Lending and debt recovery account is a settlement account of the lender and the debtor used to implement disbursement, debt recovery abroad in lending abroad and debt recovery activities as prescribed in this Circular.

11. Payment service provider bank is the organization providing payment services through accounts where the lender and the debtor open lending and debt recovery abroad accounts to implement disbursement, debt recovery abroad and other money transfer transactions related to lending abroad and debt recovery abroad activities.

Article 4. Regulations on foreign exchange management when buying and selling loans abroad and debt recoveries abroad

1. In case a loan abroad or debt recovery abroad is bought or sold according to the law with another credit institution or foreign bank branch, the successor of rights and obligations related to the loan abroad or debt recovery abroad continues to fulfill the responsibilities of the lender or debtor as prescribed in this Circular.

2. In case a loan abroad or debt recovery abroad is bought or sold according to the law to two or more credit institutions or foreign bank branches:

a) The organizations jointly succeeding the rights and obligations may authorize or designate in writing one organization to perform the responsibilities of the lender or debtor as prescribed in this Circular;

b) In case the authorization is not carried out as prescribed in point a clause 2 of this Article, each organization succeeding the rights and obligations must fulfill the responsibilities of the lender or debtor as prescribed in this Circular for the portion inherited from the loan abroad or debt recovery abroad.

Article 5.Principles for Implementing Overseas Loans and Repaying Foreign Debts

1. The lender has autonomy in providing overseas loans and bears legal and financial risks associated with entering into and performing overseas loan agreements. When implementing overseas loans, the lender must comply with the provisions of this Circular, the State Bank's regulations on lending activities of credit institutions and foreign bank branches to customers, and other relevant laws.

2. The debt collector is not required to register foreign debt recovery transactions. During the process of recovering foreign debts, the debt collector must adhere to the provisions of this Circular, the State Bank's regulations on documentary collection services, letters of credit, bank guarantees, and other credit services, and other relevant laws.

Article 6. Forms of Repaying Foreign Debts

The recovery of foreign debts by lenders and debt collectors shall be carried out through the following forms:

1. Directly recovering debts from the debtor by transferring funds to the lender according to relevant laws and agreements between the parties.

2. Recovering debts from a third party who is a non-resident by transferring funds to the lender, except in cases stipulated in Clause 4 of this Article.

Debt recovery from a non-resident third party must be clearly specified in the loan agreement or amended loan agreement and confirmed in the registration confirmation document or amended loan registration document (if the overseas loan requires registration with the State Bank).

3. Recovering debts through the disposal of collateral assets.

4. Recovering debts through the guarantor paying on behalf of the debtor. A resident guarantor must comply with foreign exchange management laws when guaranteeing for a non-resident.

Article 7.Accounts for Overseas Lending and Debt Recovery

1. Commercial banks and foreign bank branches acting as lenders or debt collectors are not required to open overseas lending and debt recovery accounts at a domestic service provider bank when implementing overseas lending and debt recovery, but they must ensure full tracking of disbursement and recovery transactions (principal, interest, and fees) for each overseas loan and debt recovery.

2. Non-commercial banks and foreign bank branches acting as lenders or debt collectors must open and use settlement accounts at domestic service provider banks to implement disbursements and recoveries (principal, interest, and fees) according to the following principles:

a) Each overseas loan or debt recovery can only be conducted through one service provider bank. The lender or debt collector may use one account specified herein for one or multiple loans or debt recoveries.

b) If the currency of debt recovery differs from the disbursement currency, the lender or debt collector may open and use a different overseas lending and debt recovery account if it complies with the principle set forth in point a above.

c) The lender or debt collector is responsible for clearly stating and requesting the debtor and related parties to clearly state the purpose of the transfer related to the loan or debt recovery (including specifying the debt recovery arising from guarantee, documentary collection, letter of credit, or other credit services).

3. The domestic service provider bank where the lender or debt collector opens a settlement account to implement disbursements and recoveries as stipulated in Clauses 1 and 2 of this Article is responsible for verifying and reconciling documents presented by the lender or debt collector according to the law and reporting on the implementation of lending and debt recovery by the lender or debt collector.

4. In case of changing the service provider bank:

a) The lender or debt collector opens a settlement account for lending and debt recovery purposes at another service provider bank and requests the current service provider bank to confirm the disbursement and recovery situation (principal, interest, and fees) related to the overseas loan or debt recovery.

b) The new service provider bank will continue to provide settlement services for overseas lending and debt recovery after receiving the State Bank's document confirming the change of service provider bank (if the loan requires registration) and confirmation from the initial service provider bank including the following contents:

The disbursement and recovery situation (principal, interest, and fees) related to the overseas loan or debt recovery as stipulated in point a above.

Confirmation that the lender or debt collector has closed their account at the initial service provider bank.

5. The use of foreign currency accounts abroad by credit institutions and foreign bank branches to implement overseas loans and debt recovery shall be carried out in accordance with the current regulations on opening and using foreign currency accounts abroad by credit institutions and foreign bank branches.

Article 8. Reporting System

The lender, foreign debt collector, and the bank providing payment services through accounts shall implement the reporting system in accordance with the regulations and guidelines of the State Bank regarding the statistical reporting system applicable to credit institutions and foreign bank branches.

Chapter II
PROVISIONS ON LENDING ABROAD

Article 9.Joint Lending Abroad

1. When participating in joint lending abroad for non-residents, the lender must comply with the provisions of this Circular and the laws on syndicated credit.

2. In cases where one lender participates with other lenders who are non-residents to carry out joint lending abroad, the lender shall complete registration procedures and changes to the loan registration with the State Bank in accordance with this Circular.

3. In cases where two or more lenders participate in joint lending abroad, the lenders shall act as follows:

a) In cases where joint lending abroad includes appointing one syndicate member to represent the group in disbursing funds and recovering debts, that syndicate member shall complete registration procedures and changes to the loan registration, open a lending and foreign debt recovery account in accordance with this Circular, and report to the State Bank.

b) In cases where joint lending abroad does not include appointing one syndicate member to represent the group in disbursing funds and recovering debts, the lenders may choose:

(i) To appoint in writing one syndicate member to handle the registration procedures and changes to the loan registration, and report to the State Bank in accordance with this Circular. Each syndicate member opens a lending and foreign debt recovery account in accordance with this Circular for their respective share of the loan; or

(ii) Each syndicate member completes the registration procedures and changes to the loan registration, opens a lending and foreign debt recovery account in accordance with this Circular, and reports to the State Bank for their respective share of the loan.

Article 10.Foreign Borrowers

1. Credit institutions may only lend to the following foreign borrowers:

a) Enterprises established and operating abroad with Vietnamese enterprise capital in the form of establishing economic organizations according to the laws of the host country; contributing capital, purchasing shares, or purchasing equity stakes in foreign economic organizations to participate in managing those organizations;

b) Enterprises established and operating abroad held by enterprises specified in point a of this clause with over 50% of shares or equity stakes;

c) Foreign financial organizations currently having agency settlement relationships with the lender, and the loan is intended to fulfill settlement commitments on Vietnamese territory as agreed between the parties;

d) Government, diplomatic agencies of countries having diplomatic relations with the Socialist Republic of Vietnam, in cases where foreign lending and debt recovery by the state, government, and organizations authorized by the state and government have been decided by the government.

2. Branches of foreign banks may lend to foreign borrowers specified in points a, b, and c of Clause 1 of this Article. Loans to foreign borrowers specified in points a and b of Clause 1 of this Article must ensure that the borrowed funds are used to settle obligations to residents in Vietnam (beneficiaries).

Article 11.Safety Ratio and Credit Limit

1. When lending abroad, the lender must ensure compliance with safety ratios and credit limits for customers (foreign borrowers) as stipulated in the Law on Credit Institutions and guiding documents of the Law on Credit Institutions.

2. In cases where the loan falls under the category requiring registration, the State Bank will review whether the lender has complied with the safety ratio and credit limit regulations during the three months immediately preceding the date of signing the agreement for foreign lending or the agreement to increase the value of foreign loans until the end of the month immediately before submitting all necessary documents to complete the registration and change procedures for foreign loans in accordance with this Circular.

3. In cases where the period for reviewing the safety ratio as stipulated in Clause 2 of this Article does not coincide with the reporting period prescribed by the State Bank's statistical reporting system, the State Bank will review the lender's compliance with the safety ratio and credit limit regulations based on the most recent report submitted in accordance with the State Bank's statistical reporting system.

Article 12.Foreign Currency for Overseas Loans

1. The disbursement and recovery of overseas loans shall be conducted in Vietnamese Dong or foreign currency as agreed upon between the parties.

2. Overseas loans in Vietnamese Dong as stipulated in Clause 1 of this Article may only be implemented in the following cases:

a) The overseas borrower has income in Vietnamese Dong or purchases Vietnamese Dong from permitted credit institutions in Vietnam to repay the loan;

b) The overseas borrower is an entity as defined in Point c of Clause 1 of Article 10 of this Circular.

Article 13.Principles for Establishing, Submitting, Receiving, and Delivering Results of Registration and Change Registration Applications for Overseas Loans

1. The overseas lender shall submit one set of application documents to implement administrative procedures as prescribed in this Circular through one of the following three methods:

a) Direct submission at the One-Stop Service Unit of the State Bank;

b) Sending via postal service;

c) Online submission through the National Public Service Portal (if available).

In the event that the National Public Service Portal encounters technical issues or errors preventing it from receiving, exchanging information electronically, delivering results, the declaration, submission, receipt, delivery of results, exchange, and feedback of information shall be conducted via postal service or directly at the One-Stop Service Unit of the State Bank.

2. For online submissions through the National Public Service Portal, electronic applications must use digital signatures or specialized electronic signatures ensuring security as prescribed by laws on electronic transactions and administrative procedures in the electronic environment.

3. Documents in the electronic application file are electronic texts, scanned copies of original documents, or original files (in PDF format), except for the Loan Registration and Change Registration Application Forms which are filled out on the National Public Service Portal. The name of the electronic document must correspond to the type of document as prescribed.

4. Documents in the paper application file shall be handled as follows:

a) The Loan Registration and Change Registration Application Forms must be originals or true copies;

b) Agreements and documents issued or signed by the lender must be originals, true copies, certified copies, or copies confirmed by the lender as being copied from the original;

c) Other documents in the application file must be originals, true copies, copies from the original ledger, or certified copies.

5. The registration and change registration application files for overseas loans must be established in Vietnamese. If the original application file is in a foreign language, it must be translated into Vietnamese and the translator's signature must be notarized according to Vietnamese laws on notarization, except for agreements and documents issued or signed by the lender, where the lender can self-translate and confirm responsibility for the accuracy of the translation.

6. Staff members at the One-Stop Service Unit shall notify organizations or individuals about the formal acceptance of the application or request for corrections and supplements to the application within no more than three working days from the date of accepting the application as prescribed in Clause 1 of this Article.

7. The State Bank shall deliver the result of the administrative procedure prescribed in this Circular through online means, postal service, or directly at the One-Stop Service Unit of the State Bank.

Article 14. Obligation to Register Overseas Loans

The lender must register with the State Bank the following overseas loans:

1. Overseas loans with a repayment period exceeding 180 days from the first disbursement date to the expected full repayment date as per the loan agreement or extended loan agreement.

2. Overseas loans with a repayment period not exceeding 180 days as per the agreement but actually overdue by 90 days or more from the 180-day mark since the first disbursement date.

Article 15.Procedure for Implementing Registration Procedures for Overseas Loans

1. The lender shall submit one set of registration application documents for overseas loans as prescribed in Article 16 of this Circular to the State Bank within the following timeframes:

a) Thirty days from the date of signing the loan agreement or extended loan agreement for overseas loans as stipulated in Clause 1 of Article 14 of this Circular;

b) Thirty days from the date of ninety-day overdue payment for the case stipulated in Clause 2 of Article 14 of this Circular.

2. The State Bank shall issue a confirmation or rejection letter for the registration of overseas loans (with reasons stated) within fifteen working days from the date of receiving complete and valid application documents.

3. In cases where the application documents do not meet the conditions for processing, within seven working days from the date of formal acceptance of the application, the State Bank shall issue a letter requesting the lender to supplement and perfect the application documents. The processing time will be recalculated from the date all necessary documents are received. After sixty days from the date of the request, if the lender fails to complete the perfection of the application documents, the State Bank shall close the application for confirmation of registration of overseas loans.

Article 16. Documents for registering foreign loans

1. Application for registering foreign loans (in accordance with Appendix I issued together with this Circular).

2. Report on foreign loans including the following main contents: the borrower abroad; purpose of using borrowed funds by the borrower abroad; appropriateness of the loan amount with the scale of the capital utilization plan; foreign currency sources for lending (applicable to foreign currency loans); risk prevention measures; feasibility assessment of the loan; ability to recover principal; disbursement and debt recovery situation (applicable to loans prescribed in Clause 2, Article 14 of this Circular).

3. Report on compliance with legal provisions regarding lending activities of credit institutions and foreign bank branches towards customers.

4. Documents about the borrower abroad including:

a) Decision on establishment or Investment Registration Certificate of the borrower abroad or other equivalent documents according to the regulations of the home country proving that the borrower abroad falls within the scope prescribed at Point a and Point b, Clause 1, Article 10 of this Circular;

b) Agency settlement agreement between the borrower abroad and the lender as prescribed at Point c, Clause 1, Article 10 of this Circular.

5. Loan agreement, loan extension agreement for foreign loans already signed (if any).

6. Power of attorney (if any) from joint lenders authorizing one lender to handle the registration procedures for foreign loans (applicable to joint foreign loans).

Article 17. Obligation to register changes in foreign loans

1. The lender shall be responsible for registering changes in foreign loans with the State Bank of Vietnam when there are changes in the contents stated in the confirmation registration document or the confirmation document of changed foreign loans including:

a) Change in the loan amount;

b) Change in the loan term;

c) Change in the disbursement plan;

d) Change in the principal repayment plan due to agreements among parties on changing the principal repayment plan, except in cases where foreign loan debts are recovered through asset disposal or by the guarantor repaying according to the agreed guarantee measures for foreign loans and information on the guarantor has been confirmed by the State Bank of Vietnam;

đ) Change in guarantee measures, guarantors of foreign loans;

e) Addition or change in non-resident debtors who are not guarantors of the loan;

g) Change in the borrower due to division, separation, merger, consolidation, or name change;

h) Change in the lender due to the occurrence of loan purchase or sale transactions as prescribed in Article 4 of this Circular;

i) Change in the termination of foreign loans due to the lender selling the entire foreign loan to a non-resident;

k) Change in the bank providing payment services through accounts.

2. In case of changes outside the contents mentioned in Clause 1 of this Article, the lender does not need to go through the procedure for registering changes in foreign loans but must report the changed contents and the time of occurrence in the explanatory report sent to the State Bank of Vietnam in accordance with the reporting and statistical system applicable to credit institutions and foreign bank branches.

Article 18. Procedure for handling the registration of changes in foreign loans

1. The lender shall be responsible for sending one set of documents for registering changes in foreign loans to the State Bank of Vietnam within the following deadlines:

a) Thirty (30) days from the date of signing the change agreement; or

b) Thirty (30) days from the date the lender receives notification from the successor organization of the borrower's debt repayment obligations regarding the completion of the division, separation, merger, or consolidation of the foreign borrower; or

c) Thirty (30) days from the date the lender completes the division, separation, merger, consolidation or the date of signing the agreement recording the sale of foreign loans to another lender in accordance with the law; or

d) Before the occurrence of the changed content for cases where the changed content does not require a change agreement.

2. The State Bank of Vietnam shall issue a confirmation or rejection letter for the registration of changes in foreign loans (with clear reasons) within fifteen working days from the date of receipt of complete and valid documents.

3. In case the documents do not meet the conditions for processing, within seven working days from the date of officially receiving the documents, the State Bank of Vietnam shall issue a letter requesting the lender to supplement and complete the documents. The processing period will be recalculated from the date all documents are received. After sixty days from the date of request, if the Lender fails to complete the document supplementation, the single-window office staff shall close the application for confirming the registration of changes in foreign loans.

Article 19.Documents for registering changes to foreign loan disbursements

1. Application for registration of changes to foreign loan disbursements (in accordance with Appendix II issued together with this Circular).

2. Loan agreement amendment. In cases where the content of the change does not require a new loan agreement amendment but still ensures compliance with the original loan agreement, the lender must provide a detailed explanation of this in the application for registration of changes to the foreign loan disbursement.

3. The components of the documents specified in Clause 4, Article 16 of this Circular in cases where the foreign borrower changes due to division, merger, or consolidation.

4. The components of the documents specified in Clauses 2, 3, and 6, Article 16 of this Circular in cases where the amount of the loan increases.

5. Confirmation document from the bank providing payment services through the account where the lender has opened a foreign loan disbursement account regarding the implementation of the foreign loan disbursement (applicable to lenders required to open a foreign loan disbursement account under Article 7 of this Circular), including the following information: disbursed amount, debt recovery; disbursement time, debt recovery time; reference information on the loan agreement and the foreign borrower.

Article 20.Basis for considering and confirming registration, registration changes

The State Bank of Vietnam will consider and confirm the registration and registration changes of foreign loan disbursements based on:

1. Government foreign exchange management policies during each period.

2. The completeness and validity of the loan registration documents and the registration change documents.

3. The lender's compliance with and full satisfaction of the regulations on foreign loan disbursements stipulated in this Circular.

4. Opinions of relevant agencies concerning the foreign loan disbursements of the lender when necessary.

Article 21.Authority to confirm registration and registration changes

The State Bank of Vietnam is the authority responsible for confirming the registration and registration changes of foreign loan disbursements.

Article 22.Transfer of funds for disbursement and debt recovery from foreign loans

In cases where the loan falls within the scope requiring registration and registration changes with the State Bank of Vietnam as stipulated in this Circular, all transactions involving the transfer of funds for disbursement and debt recovery related to foreign loans can only be carried out after the lender has been confirmed by the State Bank of Vietnam according to the provisions of this Circular.

Chapter III
RESPONSIBILITIES OF THE PARTIES INVOLVED

Article 23.Responsibilities of the Lender and Debtor

1. Compliance with the provisions of this Circular, other Vietnamese laws, and relevant foreign laws.

2. Providing documents and evidence related to foreign lending and debt recovery activities upon request from the State Bank of Vietnam, banks providing payment services through accounts, and bearing legal responsibility for the completeness and accuracy of the provided documents and evidence.

Article 24.Responsibilities of banks providing payment services through accounts

1. Providing payment services through accounts for transactions related to foreign loan disbursements and foreign debt recovery based on:

a) Confirmation documents for registration and registration changes of foreign loan disbursements (in cases where foreign loans fall within the scope requiring registration and registration changes);

b) Loan agreements, loan agreement amendments, credit agreements through factoring, letters of credit, bank guarantees, and other credit agreements that include provisions on foreign debt recovery and other agreements related to foreign loans and foreign debt recovery;

c) Evidence proving that the debtor has fulfilled their payment obligations arising from factoring, letters of credit, bank guarantees, and other credit operations;

d) Other documents and materials as stipulated internally by the bank providing payment services through accounts.

2. Verifying and reconciling the accuracy of fund transfer requests (disbursements, debt recovery) with the documents presented by the lender, debtor, and other parties to ensure that transactions related to foreign loan disbursements and foreign debt recovery comply with confirmation documents for registration and registration changes (in cases where foreign loans require registration and registration changes), loan agreements, credit agreements, and other related agreements, and comply with foreign exchange management regulations.

3. Providing confirmation documents on the implementation of foreign loan disbursements by the lender as specified in Clause 5, Article 19 of this Circular upon request from the lender or when required by authorized authorities.

Article 25. Responsibilities of Units under the State Bank

1. Responsibilities of the Foreign Exchange Management Department:

a) Receive, seek opinions from relevant units and agencies (if necessary), compile and report to the Governor of the State Bank for consideration and decision on confirming registration, confirming registration changes for foreign loans in cases where the loan amount increases and the loan period is extended; consider and decide on confirming registration changes for foreign loans in other cases;

b) Exploit and utilize the database on foreign loan management and foreign debt recovery to serve the construction and implementation of policies in accordance with its functions and tasks;

c) Monitor, compile, and inspect the implementation of foreign lending and foreign debt recovery as stipulated in this Circular;

d) Take the lead and coordinate with related units under the State Bank to handle other issues related to foreign lending by credit institutions and foreign bank branches in accordance with current laws.

2. Responsibilities of the Credit Institution Management and Supervision Department:

Within five (5) working days from the date of receiving the request from the Foreign Exchange Management Department to participate in providing opinions on foreign loans, the Credit Institution Management and Supervision Department shall send a document to the Foreign Exchange Management Department regarding whether the lender complies with the regulations on safety ratios and credit limit as stipulated in this Circular.

3. Responsibilities of other related units:

Related units are responsible for coordinating with the Foreign Exchange Management Department to handle common issues related to foreign lending and foreign debt recovery by credit institutions and foreign bank branches in accordance with the law at the request of the Foreign Exchange Management Department.

Chapter IV
IMPLEMENTING PROVISIONS

Article 26. Effective Date

1. This Circular takes effect from December 31, 2025.

2. From the date this Circular takes effect, the following documents and regulations cease to be enforced:

a) Circular No. 45/2011/TT-NHNN of the Governor of the State Bank on foreign exchange management for foreign lending and debt recovery by credit institutions;

b) Circular No. 13/2016/TT-NHNN of the Governor of the State Bank amending and supplementing certain provisions of Circular No. 45/2011/TT-NHNN on foreign exchange management for foreign lending and debt recovery by credit institutions;

c) Clause 4, Article 9 of Circular No. 09/2015/TT-NHNN of the Governor of the State Bank on activities of buying and selling debts by credit institutions and foreign bank branches.

Article 27. Responsibility for Implementation

Heads of units under the State Bank, credit institutions, and foreign bank branches are responsible for organizing the implementation of this Circular.

Article 28.Transitional Provisions

1. Foreign loans of credit institutions and foreign bank branches that have been confirmed for registration, confirmed for registration changes (if any) before the effective date of this Circular shall continue to be implemented according to the registration confirmation document, registration change confirmation document (if any) of the State Bank..

In case there are changes to the contents already stated in the registration confirmation document, registration change confirmation document for foreign loans after the effective date of this Circular, the registration of foreign loan changes shall be carried out in accordance with the provisions of this Circular.

2. In case the lender has submitted complete and valid registration, registration change documents for foreign loans in accordance with the regulations before the effective date of this Circular, the State Bank will continue to examine and confirm the registration, registration change documents for foreign loans in accordance with Circular No. 45/2011/TT-NHNN amended and supplemented by Circular No. 13/2016/TT-NHNN.