Credit Institutions Required to Report Credit Programmes, Products

The State Bank of Vietnam (SBV) issued Document No. 4474/NHNN to require credit institutions and foreign bank branches to report their credit programs and products.

 

Accordingly, to successfully implement the Resolution No. 13/NQ-CP of the Government dated May 10, 2012 on a number of solutions to ease difficulties against businesses and support the market, and to successfully organise a workshop among banks, enterprises, and local authorities, the SBV required credit institutions and foreign bank branches to report their credit programmes and products being implemented and expected to be implemented in 2012 to remove difficulties against enterprises and promote credit growth from now until end 2012. Reports of credit institutions and foreign bank branches should provide full information, including the name of programmes and products, timeline for implementing such programmes; implementers; participating conditionality; total credit caps of programmes; interest rates and other contents (if any).

 

The SBV required credit institutions and foreign bank branches to send their reports to the SBV Credit Department prior to August 2, 2012.