In order to support people and businesses in 26 localities affected by storm No. 3 and natural disasters after the storm, the State Bank of Vietnam has just issued Circular No. 53/2024/TT-NHNN, regulating the restructuring of debt repayment terms and maintaining the debt group for customers.
According to the Circular, credit institutions and foreign bank branches will:
Applicable subjects: Customers damaged by storm No. 3.
Debt restructuring scope: Applicable to debts with principal balance arising before September 7, 2024 and debt repayment obligations from September 7, 2024 to December 31, 2025.
Restructuring period: Until December 31, 2025, unlimited number of times. Final repayment date is no later than December 31, 2027.
Special support provisions: Allowing the first restructuring for debts overdue for more than 10 days in the period from September 7, 2024 to 10 days after the Circular takes effect.
This policy not only reduces financial pressure but also helps customers access new loans, restore production and business, and stabilize their lives. At the same time, the decision to maintain the debt group and set aside risk provisions will motivate credit institutions to accompany people and businesses after natural disasters.
The State Bank affirmed that it will continue to implement practical support solutions, contributing to helping the economy overcome difficulties and ensure social security.
