Thursday, July 7, 2022 4:48:17 PM - Markets open
VN-INDEX 1,166.48 +16.87/+1.47%
HNX-INDEX 271.86 -0.06/-0.02%
UPCOM-INDEX 86.38 +0.16/+0.19%
State Bank agrees to extend debt rescheduling for six months
Vietnam News - 9/8/2021 4:57:06 PM
 (0 ratings. You must sign in to rate.)
The State Bank of Việt Nam (SBV) has agreed to extend debt rescheduling for customers for a further six months.
 
In Circular 14/2021/TT-NHNN issued on Tuesday, the central bank allows financial institutions to reschedule debts incurred before August 1, 2020, instead of June 10, 2020; and debts with repayment obligations from January 23, 2020 to June 30, 2022, instead of December 31, 2020.
 
The new circular extends the repayment term for customers by another six months compared to Circular 03, until June 30, 2022.
 
In addition, the restructuring of overdue debts will also be extended from July 17, 2021 to before September 7, 2021.
 
The new regulation also allows credit institutions and foreign bank branches to decide the exemption or reduction of interest and fees according to their internal regulations for the debts incurred before August 1 with repayment obligation between January 23, 2020 and June 30, 2022 and for customers unable to repay debts due to the pandemic.
 
The central bank’s move aims to alleviate difficulties for businesses hit hard by the COVID-19 pandemic, especially as the fourth wave of infections is causing severe impacts on economic activities and affecting the payment capacity of businesses and people.
 
According to SBV, the six-month extension of debt rescheduling is based on the vaccination roll-out and disease control plan of the Government.
 
The new circular took effect on Tuesday.
 
Earlier, many banks agreed to cut lending rates until the end of this year to support businesses. From the business side, they expected cheaper lending costs, as well as banks to extend their debt repayment terms as the pandemic severely affected their financial health.
 
Meanwhile, the Vietnam Banks Association had proposed extending debt rescheduling to “three months after the Prime Minister announces the end of the pandemic”.
 
This suggestion would help SVB avoid amending their policies. — VNS
 
Read original article here
 
Newer News
14:26 Banks to have credit expansion at end-Q3 2022
01/07 Flexible adjustment needed in growth economy
25/06 Roadmap needed to remove credit room
24/06 Current credit room no longer suitable
24/06 Central bank sold roughly $7 billion to stabilise forex market
23/06 State Bank of Vietnam unwilling to dismantle credit room
22/06 Credit room management at banks under pressure
22/06 Vietnam Techcombank breaks record with the closing of a USD 1 bn offshore syndicated loan facility
21/06 Central bank stands ready to pump more foreign currencies to market: official
15/06 Vietnam's credit growth expands by over 17 percent
Older News
08/09 Banks continue lower deposit interest rates
06/09 Reference exchange rate down 3 VND after National Day holiday
23/08 Reference exchange rate up 11 VND at week’s beginning
20/08 Reference exchange rate revised up 12 VND
16/08 Reference exchange rate up 8 VND at week’s beginning
12/08 Reference exchange rate down 26 VND on August 12
10/08 State budget collection up 15.6 percent in seven months
06/08 Reference exchange rate up 3 VND on August 6
03/08 Reference exchange rate revised down 4 VND
30/07 Reference exchange rate goes down
 
Newsletter Signup
Top Stories
Shares pierce May-bottom on weak investor sentiment
Vietnam’s CPI up 2.44% in six months
HPG: Hoa Phat wants to invest big in two infrastructure projects
Legal framework for securities, corporate bond investment, business strengthened: SBV Governor
Steel prices cool down as input costs drop
Market Update
Last updated at 3:04:59 PM
VN-INDEX 1,166.48 +16.87/+1.47%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.