Accordingly, the State Bank of Vietnam decides the implementation time for the Circular No. 02/2013/TT-NHNN to June 01, 2014 (from 01 year compared with previous regulation). Previously, the Circular No. 02/2013/TT-NHNN regulates that a credit institution or foreign bank branch shall take measures and regularly collect and use information and data on its customers, including information from the Credit Information Center (CIC) in order to amend and supplement the internal credit-rating system and internal regulations on credit extension, loan management and risk provisioning policy; monitor and evaluate the ability of its customers to repay loans after rating them according to the internal credit-rating system, and take appropriate measures to manage risks and credit quality; classify loans and off-balance sheet commitments, set aside and use risk provisions under this Circular.
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