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blue-check Amendments to policies on debt rescheduling, reduction and exemption of interest for borrowers affected by Covid-19

Circular No. 14/2021/TT-NHNN dated September 7th, 2021 of the State Bank on amendments to Circular No. 01/2020/TT-NHNNstatus2 dated March 13, 2020 of the Governor of the State bank of Vietnam providing instructions for credit institutions and foreign branch banks (FBB) on debt rescheduling, exemption or reduction of interest and fees, retention of debt category to assist borrowers affected by Covid-19 pandemic
Posted: 8/9/2021 8:14:49 AM | Latest updated: 7/4/2022 6:06:08 PM (GMT+7) | LuatVietnam: 5286 | Vietlaw: 526
VietlawOnline

This Circular amends policies on debt rescheduling, reduction and exemption of interest, retaining the categories of debts, etc. with regard to borrowers affected by Covid-19.

Accordingly, the policies on debt rescheduling, reduction and exemption of interest applicable to borrowers affected by Covid-19 shall be carried out until June 30th, 2022.

However, loans that may be rescheduled, entitled to reduction and exemption of interest, fee only include loans that are granted before August 1st, 2021 and principal and/or interest occur during the period from January 23rd, 2020 to June 30th, 2022.

This Circular takes effect from September 7th, 2021.

To abrogate clause 2, clause 3, clause 6 Article 1 of Circular No. 03/2021/TT-NHNNstatus2 dated April 2nd, 2021.

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Effective Date 7-Sep-2021
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Published Vietlaw's Newsletter No. 526
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