Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation
This Decree provides for the establishment and operation of asset management companies of Vietnamese credit institutions (hereafter referred to as Asset Management Company)
Article 2. Subject of application
1. Asset management company
2. Vietnamese credit institution (hereafter referred to as credit institution)
3. Other institutions and individuals related to the establishment, organization and operation of the asset management company.
Article 3. Establishment of asset management company
1. The State Bank of Vietnam (hereinafter referred to as the State Bank) shall establish the asset management company to handle bad debts, promote reasonable credit growth for the economy.
2. Asset management company is a specialized enterprise and is organized in the form of a one-member limited liability company whereby the State owns 100% of charter capital and subject to the State management, inspection and monitoring conducted by the State Bank.
Article 4. Explanation of term
In this Decree, the following terms are construed as follows:
1. Vietnamese credit institution is a credit institution established and operating under the Law on credit institutions, excluding credit institutions with 100% foreign capital and Joint-venture credit institutions.
2. Loan customer includes institution (excluding foreign credit institutions and bank branches), individuals granted credit by credit institutions for bond purchase; enterprises and institutions (excluding foreign credit institutions and bank branches) receiving the entrustment of credit institutions to purchase bonds of enterprises bad debts and sell them to the asset management company.
3. Existing loan customer is the loan customer who has not revoked his License of operation, dissolved and broken as prescribed by law (for institutions) or is not dead or missing (for individuals)
Article 5. Principle of operation of the Asset Management Company
The Asset Management Company shall operate in the following principles:
1. Covering expenditures with revenues and not for profit
2. Being public and transparent in the activities of purchase and handling of bad debts.
3. Limiting risks and expenses in handling of bad debts.
Article 6. Granting credit to loan customer with bad debts to be sold to asset management company
The loan customer who has bad debts to be sold to the asset management company and has feasible business and production plan shall be further considered and granted credit by credit institution as agreed and prescribed by law,
Article 7. Method by which the asset management company buys the credit institution’s bad debts
1. Buying credit institution’s bad debts in the book value by special bonds by issued by the asset management company.
2. Buying credit institution’s bad debts with market price by the fund which is not special bonds.
3. Based on the Asset Management Company’s financial capacity, economic efficiency and market conditions, the Asset Management Company may buy the credit institution’s bad debts by the method prescribed in Clause 2 of this Article for bad loans meeting the following conditions:
a) Meeting the conditions specified in Article 8 of this Decree;
b) Being able to fully recover money used to buy bad debts;
c) Secured assets of the bad debts can be put on sale;
d) Loan customer is able to restore debt repayment
4. The member Board of the Asset Management Company shall develop the plan for buying bad debts by the method specified in Clause 2 of this Article for submission to the Governor of the State Bank before implementation.
Article 8. Conditions for bad debts bought by Asset Management Company
1. The Asset Management Company shall buy the bad debts with the following conditions:
a) The credit institution’s bad debts including the ones in activities of credit granting, purchase of corporate bonds, trusted purchase of corporate bonds and trusted credit granting and other activities as prescribed by the State Bank.
b) Bad debts with collateral;
c) Bad debts and collateral must be legal with valid documents and papers;
d) Loan customer still exists;
e) The balance of bad loans or outstanding of loan customer is not lower than the level prescribed by the State Bank.
2. The State Bank shall guide specific conditions for bad debts specified in Clause 1 of this Article.
3. The Prime Minister shall decide on the re-purchase of credit institution’s bad debts by the asset management company which do not meet the conditions specified in Clause 1 of this Article at the request of the State Bank.
Tìm kiếm
Nghị định 53/2013/NĐ-CP (Bản Word)
Nghị định 53/2013/NĐ-CP (Bản Pdf)
