On September 9, Deputy Governor of the State Bank of Vietnam Dao Minh Tu signed an official dispatch to credit institutions, foreign bank branches and State Bank branches in several provinces and cities on implementing solutions to support customers in overcoming the consequences caused by storm No. 3.
According to the State Bank of Vietnam, from September 6, 2024 to present, storm No. 3 (Yagi) has caused serious damage to people and property, affecting people's lives and production.
In order to promptly support customers to overcome difficulties and restore production and business, the State Bank of Vietnam requires credit institutions (CIs) and SBV branches in the following provinces and cities: Quang Ninh, Hai Phong, Thai Binh, Nam Dinh, Ninh Binh, Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, Thua Thien Hue, Da Nang, Quang Nam, Quang Ngai, Binh Dinh, Lang Son, Cao Bang, Bac Kan, Thai Nguyen, Ha Giang, Lao Cai, Yen Bai, Tuyen Quang, Phu Tho, Vinh Phuc, Dien Bien, Lai Chau, Son La, Hoa Binh, Hanoi, Ha Nam, Hung Yen, Hai Duong, Bac Ninh, Bac Giang to immediately implement the following contents:
Credit institutions direct branches and transaction offices to proactively review and summarize the losses of customers who are borrowing capital to promptly apply support measures and remove difficulties for customers such as: restructuring debt repayment terms, considering interest rate exemptions and reductions, continuing to provide new loans to restore production and business after the storm according to current regulations;
In addition, debt settlement for customers who have suffered loan losses shall be implemented in accordance with the provisions of Decree 55/2015/ND-CP and Decree 116/2018/ND-CP of the Government on credit policies for agricultural and rural development, Circular 10/2015/TT-NHNN and Circular 25/2018/TT-NHNN of the State Bank of Vietnam guiding the implementation of a number of contents of Decree 55/2015/ND-CP; Decision 50/2010/QD-TTg dated July 28, 2010 and Decision 08/2021/QD-TTg dated May 11, 2021 of the Prime Minister on promulgating the mechanism for handling risky debts at the Vietnam Bank for Social Policies.
Request credit institutions to visit and encourage affected families, especially poor households, policy households, and ethnic minority households to encourage people to overcome difficulties and restore production and business; carry out social security work for families suffering human and property damage, and areas heavily affected by this storm.
For the State Bank branches in provinces and cities, the Deputy Governor requested the focal units to direct credit institutions in the area to urgently deploy customer support to contribute to overcoming the damage caused by storm No. 3 as stated in Point 1 of this Official Dispatch.
Coordinate with local departments, branches and sectors to advise the People's Committees of provinces and cities on solutions to support people affected by storm No. 3;
The document clearly states that the units are required to submit reports to the State Bank assessing the damage to customers' loans and the initial results of implementing support solutions of the banking sector in the area before September 20, 2024.
Monthly report on the implementation results of support solutions of the banking industry in the area according to the attached Appendix (before the 10th of each month).
The State Bank requests the Chairman of the Board of Directors/Board of Management, General Directors of credit institutions and Directors of State Bank branches in the above provinces and cities to strictly implement. During the implementation process, if difficulties or problems arise beyond the authority of credit institutions, the State Bank branches in the provinces and cities shall promptly report to the State Bank for consideration and handling.
