Press release on issuance of Circular No. 14/2021/TT-NHNN
Hanoi, September 7, 2021 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 14/2021/TT-NHNN (Circular 14) amending and supplementing a number of Articles of Circular No. 01/2020/TT-NHNN dated March 13, 2020 of the SBV Governor directing the credit institutions and the foreign bank branches to restructure the loan maturities, waive and reduce banking fees and interest, remain the debt classifications to assist COVID-affected customers. The new Circular regulates some main substances, specifically as follow:
- Amending the scope of the loans eligible for the loan maturity restructuring, waiver and reduction of banking fees and interest to include the loans arising from June 10, 2020 through July 31, 2021 (instead of covering only the loans arising before June 10, 2020 as stipulated in Circular 01).
- Amending the scope of the loan maturity restructuring, waiver and reduction of banking fees and interest for the debt service on the loan principals and interest arising from January 23, 2020 through June 30, 2022 (instead of from January 23, 2020 through December 31, 2021 as stipulated in Circular 01).
- Amending the implementation duration of the loan maturity restructuring, waiver and reduction of banking fees and interest by the credit institutions and the foreign bank branches until June 30, 2022 (instead of December 31, 2021 as stipulated in Circular 01).
Circular 14 comprises of 4 Articles:
- Article 1: Amending and supplementing a number of Articles of Circular No. 01/2020/TT-NHNN.
- Article 2: Replacing the Appendix of Circular No. 01/2020/TT-NHNN.
- Article 3: Implementation arrangements.
- Article 4: Enforcement.
The new Circular took effect on September 7, 2021.
Translated by LK.