THE STATE BANK OF VIETNAM

Circular No. 14/2015/TT-NHNN dated August 28, 2015 of the State Bank of Vietnam amending, supplementing a number of Circular No. 19/2013/TT-NHNN dated September 06, 2013 of the State Bank Governor providing the purchase, sale and handling of nonperforming loans by the Asset Management Company of Vietnamese credit institutions
Pursuant to June 16, 2010 Law No. 46/2010/QH10 on the State Bank of Vietnam;
Pursuant to June 16, 2010 Law No. 47/2010/QH12 on Credit Institutions;
Pursuant to November 26, 2014 Law No. 68/2014/QH13 on Enterprises;
Pursuant to the Government’s Decree No. 156/2013/ND-CP dated November 11, 2013 of the Government defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
Pursuant to the Government’s Decree No. 53/2013/ND-Cp of May 18, 2013, on the establishment, organization and operation of the Asset Management Company of Vietnamese credit institutions;
Pursuant to the Government’s Decree No. 34/2015/ND-CP dated March 31, 2015 of the Government amending a number of Articles of the Decree No. 53/2013/ND-CP dated May 18, 2013 of the Government on the establishment, organization and operation of Vietnam Asset Management Company (hereinafter the Decree No. 34/2015/ND-CP);
At the proposal of the Chief of the Banking Inspection and Supervision Agency;
The Governor of the State Bank of Vietnam promulgates the Circular amending, supplementing a number of Circular No. 19/2013/TT-NHNN dated September 06, 2013 of the State Bank Governor providing the purchase, sale and handling of nonperforming loans by the Asset Management Company of Vietnamese credit institutions.
Article 1. To amend, supplement a number of Articles of the Circular No. 19/2013/TT-NHNN dated September 06, 2013 of the State Bank Governor providing the purchase, sale and handling of nonperforming loans by the Asset Management Company of Vietnamese credit institutions:
1. To amend, supplement Article 1 as follows:
“Article 1. Scope of application
This Circular provides the purchase, sale and handling of non-performing loans; the issuance, management and payment of special bonds, bonds issued directly to loan-selling credit institutions to purchase bad debts at the market price by the Asset Management Company of Vietnamese credit institutions (below referred to as Vietnam Asset Management Company).  
2. To amend, supplement Clause 5 of Article 3 as follows:
“5. Other organizations and individuals involved in the purchase, sale and handling of non-performing loans; the issuance, management and payment of special bonds, bonds issued directly to loan-selling credit institutions to purchase nonperforming loans at market price by the Asset Management Company of Vietnamese credit institutions.”
3. To supplement Clause 8a and amend, supplement Clause 9 of Article 3 as follows:
“8a. Bonds issued directly to loan-selling credit institutions to purchase bad debts at market prices (hereinafter referred to as bonds) means valuable papers with fix terms issued by the Asset Management Company of Vietnamese credit institutions to the loan-selling credit institutions to purchase bad debts at the market price.