| THE STATE BANK ------- | SOCIALIST REPUBLIC OF VIET NAM |
| No: 14/2014/TT-NHNN | Hanoi, May 20, 2014 |
CIRCULAR
amending, supplementing a number of Articles of the Regulations on classification of debts, appropriation, setting up and use of reserves for handling credit risks in banking activities of credit institutions promulgated together with the Decision No. 493/2005/QD-NHNN dated April 22, 2005 of the State Bank Governor
Pursuant to State Bank of Vietnam Law No. 46/2010/QH12 dated June 16, 2010;
Pursuant to Credit Institutions Law No. 47/2010/QH12 dated June 16, 2010;
Pursuant to the Government’s Decree No. 156/2013/ND-CP dated November 11, 2013 defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
At the proposal of the Chief of banking Inspection and supervision,
The State Bank of Vietnam Governor promulgates the Circular amending, supplementing a number of Articles of the Regulations on classification of debts, appropriation, setting up and use of reserves for handling credit risks in banking activities of credit institutions promulgated together with the Decision No. 493/2005/QD-NHNN dated April 22, 2005 of the State Bank Governor (hereinafter referred to as the Decision No. 493).
Article 1. To amend Clause 3a Article 6 of the Decision No. 493 (being amended, supplemented according to the Decision No. 18/2007/QD-NHNN dated April 25, 2007 of the State Bank Governor) as follows:
“3a. Rescheduling debts and keeping in the same group of debt:
a) Co-operative Bank, People Credit Fund shall be considered to reschedule debts and keep in the same group of debt as classified before rescheduling debts when fully meeting the follow requirements:
(i) Debt granted credit that doesn’t violate regulations of the law.
(ii) Rescheduling debts is in accordance with the purpose of project loan in the credit contract;
(iii) Customers using the loan in accordance with the purposes as agreed in the credit contract;
