CIRCULAR

REGULATING THE CHARGE OF CREDIT INSTITUTIONS’ LOANS TO CLIENTS

Pursuant to the Law on State Bank of Vietnam No. 46/2010/QH12 June 16, 2010;
Pursuant to the Law on Credit Institutions No. 47/2010/QH12 June 16, 2010;
Pursuant to the Decree No.96/2008/ND-CP of August 26, 2008 of the Government regulating functions, tasks, powers and organizational structure of the State Bank of Vietnam;
Pursuant to the Resolution No. 11/NQ-CP of February 24, 2011 by the Government on key measures to focus on inflation control, macroeconomics stability, social welfare security;
The State Bank of Vietnam stipulates the lending fees of credit institutions and branches of foreign banks (hereinafter referred to as credit institutions) to Customer as follows:

Article 1. Credit institutions are not allowed to collect charges related to loans to customers, except for the following charges:

1. Charges paid for loan payment before the due day by customers and charges paid for contingent credit lines as prescribed by the State Bank of Vietnam regulations on lending activities of credit institutions to their clients.

2. The fee for arrangements to sign co-funding contracts in the form of syndicated loans between credit institutions participating in syndicated loanning and clients in accordance with the regulations of the State Bank of Vietnam on co-funding lending by credit institutions.

3. The fees are specified in the legal documents relating to loans.

Article 2. The Bank Inspection and Supervision Agencies, and the State Bank branches in provinces and cities shall conduct inspections, examinations and supervisions of the collection of fees related to loans of credit institutions to their clients; apply measures within their competence to settle credit institutions violating the provisions of this Circular.

Article 3. Implementation Organization

1. This Circular takes effect after its signing.

2. The Chief of the Office, the Head of Department for Monetary Policy and the Heads of units under the State Bank, directors of the State Bank branches located in provinces and centrally-affiliated cities, the Board Chairman and general directors (or directors) of credit institutions, loans customers of credit institutions shall be responsible for implement this Circular.