Công văn 4496/NHNN-CSTT của Ngân hàng Nhà nước Việt Nam về việc cho vay bằng ngoại tệ

Government's management

In order to control scale and growth speed of foreign currency loan outstanding of credit institutions at an appropriate level, in line with the ability of capital mobilization and requirement of trade deficit management under directions of the Government; State Bank of Vietnam hereby requires credit institutions and State Bank branches in provinces, cities under the central Government's management to perform measures on lending and mobilizing funds in foreign currency as follows:

1. In respect of credit institutions:

- To regularly ensure that foreign currency loan outstanding (including investment in any form and deposit) is lower than the balance of capital mobilized in foreign currency from economic organizations and inhabitants, ensuring ability of safe payment.

- To strictly control credit lines, lending term (including term of the investment in any form and deposit) equivalent to the term of capital mobilization in foreign currency, avoid the occurrence of the risk of term and liquidity. To restrict the delegation of power to make decision on lending in foreign currency for branches of credit institutions in order to restrict risks in implementation of provisions of State Bank of Vietnam on lending, foreign exchange control and ensuring prudential ratios in operation of credit institutions.

- To provide loans to meet funds demands for purpose of production, business of export goods, ensuring the ability to collect foreign currency loan from export income sources which are determined on the basis of export L/C documents or other safe methods of payment which export enterprises have been performing.

- To provide loans to satisfy foreign currency fund demands and provide loans in Vietnamese Dong to purchase foreign currency for making payment of imports, credit institution must ensure the ability to collect foreign currency loan, which is determined on the basis of actual foreign currency income source of lending credit institution or other credit institutions with big scale of foreign currency trading in the market; import enterprises shall enter into a contract of forward foreign currency purchase with such credit institutions.

- To correctly comply with the directions of the State Bank of Vietnam on lending in foreign currency stated in the document No. 3215/NHNN-CSTT dated 29 April 2010; lending in foreign currency, lending in Vietnamese Dong to purchase foreign currency for making payment of goods imported in the document No. 4186/NHNN-CSTT dated 4 June 2010.

- To make investment in and upgrade business administration technology (Core Banking) for efficient management to term, interest rate, exchange rate and liquidity in foreign currency.

2. In respect of State Bank branches in provinces, cities: To carry out the examination,  supervision and inspection, to deal with the provision of foreign currency loans by credit institutions in the local area, within their competence, under provisions of applicable law, direction of the State Bank's Governor and guidance in point 1 mentioned above, to propose State Bank of Vietnam to timely deal with arising issues, ensure the stability of foreign currency market.