Công văn 2870/NHNN-CSTT

Pursuant to proposal of several commercial banks and State Bank branches in provinces, cities, the State Bank of Vietnam hereby provides guidance on giving 100% interest rate support to loans provided under agreement interest rate as follows:

1. According to provisions in the Decision No. 2213/QD-TTg dated 31 December 2009 of Prime Minister and the Circular No. 22/2010/TT-NHNN dated 22 January 2010 of the Governor of the State Bank, for short term, medium term loans in Vietnamese Dong for procurement of machineries, mechanical equipments for purpose of agricultural production and processing, light lorry with capacity of less than 5 tons, personal computer, commercial banks, finance companies shall, upon collecting loan interests, give 100% interest rate support to the loan amount stated in the credit contract (appendix to credit contract); amount of interests to be supported shall be based on the loan amount and actual loan term. State Bank of Vietnam shall remit amount of interest already supported on the basis of the report on amount of interest rate support of commercial banks, finance companies in accordance with current provisions.

2. State Bank branches in provinces, cities shall carry out, within their competence, the examination, supervision and inspection, treatment for commercial banks, finance companies in the local area which fail to comply with the contents stated in this document.