Press Release on the issuance of Circular No.32/2019/TT-NHNN
Hanoi, December 31, 2019 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 32/2019/TT-NHNN amending and supplementing a number of articles of Circular No.19/2013/TT-NHNN dated September 6, 2013 stipulating the purchasing, selling and handling with non-performing loans (NPLs) by Vietnam Asset Management Company (VAMC).
The new Circular is composed of 3 Articles with the following main substances:
Amending and supplementing the definitions of re-structuring NPLs; stipulating the exchange rates applied for NPLs in foreign currencies; stipulating the maturity of bonds, the conditions of the collateral assets for NPLs; stipulating the contributions to the charter capital and the equity capital; the handling with the amount of money collected from NPLs purchased in bonds in line with the market price; stipulating the payment of bonds and special bonds; stipulating the responsibilities of the SBV entities, the credit institutions selling NPLs and VAMC.
Reviewing, amending and using consistently some expressions/concepts in Circular No. 19/2013/TT-NHNN dated September 6, 2013 (as amended and supplemented).
The new Circular takes effect from February 14, 2020.
Translated by Le Hang