THE STATE BANK OF VIETNAM
Circular No. 11/2013/TT-NHNN of May 15, 2013, providing the grant of housing support loans under the Government’s Resolution No. 02/NQ-CP of January 7, 2013
Pursuant to June 16, 2010 Law No. 46/2010/QH12 on the State Bank of Vietnam;
Pursuant to June 16, 2010 Law No. 47/2010/QH12 on Credit Institutions;
Pursuant to the November 29, 2005 Law on Housing;
Pursuant to the Government’s Decree No. 96/2008/ND-CP of August 26, 2008, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
Pursuant to the Government’s Decree No. 71/2010/ND-CP of June 23, 2010, detailing and guiding the implementation of the Law on Housing;
Pursuant to the Government’s Resolution No. 02/NQ-CP of January 7, 2013, on solutions for removing difficulties for production and business, supporting the market and settling non-performing loans, and Resolution No. 48/NQ-CP of April 4, 2013, on the Government’s regular meeting of March 2013;
At the proposal of the director of the Credit Department;
The Governor of the State Bank of Vietnam promulgates the Circular providing the grant of housing support loans under the Government’s Resolution No. 02/NQ-CP.
Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation and subjects of application
1. Scope of regulation
a/ This Circular provides the grant of housing support loans from the refinancing source of the State Bank of Vietnam (below referred to as the State Bank) under the Government’s Resolution No. 02/NQ-CP of January 7, 2013, on solutions for removing difficulties for production and business, supporting the market and settling non-performing loans, and Resolution No. 48/NQ-CP of April 4, 2013, on the Government’s regular meeting of March 2013;
b/ State-owned commercial banks, join-stock commercial banks of which the State holds more than 50% of charter capital (below referred to as banks) shall reserve an amount of capital at least equal to 3% of total outstanding loans at the end of the previous year for granting loans to the subjects specified at Point a, Clause 2 of this Article. For loans not from the refinancing source of the State Bank, banks may grant according to current law at interest rates and for durations suitable to the clients’ payment ability and the banks’ financial status.
