To:

- Commercial banks
- Finance companies
- Central Peoples Credit Fund

Upon requests of several commercial banks, the State Bank of Vietnam hereby provides detailed guidance on some issues related to the interest rate support mechanism for the implementation of commercial banks as follows:

1. Regarding the preparation of interest rate support certificate for borrowers, to comply with provisions in the Circular No. 02/2009/TT-NHNN dated 3 February 2009 of the Governor of the State Bank providing in details for the implementation of interest rate support to organizations, individuals borrowing capital from banks for production - business and the Official Dispatch No. 1436/NHNN-CSTT dated 3 March 2009 of the State Bank of Vietnam providing specific guidance on several points related to the interest rate support mechanism.

a. For borrower being farmers household: if loan is provided in time-to-time mode, then, to draw one-off interest rate support certificate upon the expiry of loan term entitled to interest rate support; where the loan is provided under the mode of credit limit, then, to draw the interest rate support certificate by the last month of each quarter in 2009.

b. For other borrowers, to draw the interest rate support certificate in accordance with provisions in the Circular No. 02/2009/TT-NHNN and the Official Dispatch No. 1436/NHNN-CSTT.

2. In respect of papers (documents) to prove the purpose of using loan funds as subject entitled to interest rate support, to comply with the guidance in the Official Dispatch No. 1436/NHNN-CSTT:

a. For farmers household which borrows funds for production, business, then documents for proving the purpose of using loan funds to give interest rate support shall be minutes of inspecting the use of loan funds to be certified by the borrower and commercial bank, of which, it is required to specifically determine expenses on production - business in correspondence with value of assets actually created from loan funds; the time of making the minutes is stipulated by the commercial bank in line with the Process of inspection, supervision over loan funds issued by the commercial bank

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c. For other borrowers and other borrowing cases, documents to prove purpose of using loan funds shall be in accordance with provisions in the Circular No. 02/2009/TT-NHNN and the Official Dispatch No. 1436/NHNN-CSTT.

3. Regarding the summary and sending of report to the State Bank of Vietnam (Monetary Policy Department):

a. Timely sending the original (with signature, seal) of reports drawn under the Appendix 02 and 03 in accordance with provisions in the Circular No. 04/2009/TT-NHNN dated 13 March 2009 and Appendix 01 of the Official Dispatch No. 1183/NHNN-TCKT dated 23 February 2009 of the State Bank of Vietnam on guiding the accounting of interest rate support in the year 2009 to make basis for transfer of amount of interest rate support to commercial banks.

b. In column (1), norm II (Total loans entitled to interest rate support, classified by borrower) Appendix 02 of the Circular No. 04/2009/TT-NHNN, corporate borrowers are divided into: State owned company, non-state enterprise (which is established and operating in accordance with the Law on enterprises, the Law on Investment).

THE GOVERNOR OF THE STATE BANK OF VIETNAM




Nguyen Van Giau