To:- Commercial banks

- Branch of foreign banks operating in Vietnam

- Central People s Credit Fund

- Finance companies

With a view to implementing the Directive No. 02/CT-NHNN dated 17 December 2009 of the Governor of the State Bank of Vietnam, State Bank of Vietnam hereby provides guidance on some certain points regarding the final settlement of interest rate support amount for short term loans in Vietnamese Dong by organizations, individuals at commercial banks, joint venture banks, branches of foreign banks and 100% foreign owned banks operating in Vietnam, Central People s Credit Funds and finance companies (hereinafter referred to as commercial banks) as follows:

1. Data for making report on final settlement of interest rate support amount shall be the data arising from 1 February 2009 till 31 December 2009 and must be matching with the consolidated data in 8 month report (from February to December 2009) which commercial banks sent to State Bank of Vietnam on monthly basis to make basis for transferring 80% of interest rate support amount to commercial banks; if the data for making settlement report is not matching with consolidated data in 8 months, commercial banks shall be required to make specific explanation about such difference of data.

2. Documents, materials of the commercial banks for final settlement of interest rate support amount

a. At branches, operation department of commercial banks:

- A Confirmation of interest rate support under the guidance in point 1.1 stated in the Official Dispatch No. 1436/NHNN-CSTT dated 3 March 2009 and the detailed List of Confirmation of interest rate support by each borrower.

- The accounting list of loan interest amount payable and loan interest amount entitled to interest rate support of borrowers as at 31 December 2009, but the payment period of interest has not become due under the guidance in the Official Dispatch No. 1444/NHNN-CSTT dated 26 February 2010 on implementation of interest rate support (the List of interest receivable from borrowers entitled to interest rate support).

- The list of turnover and balance of accounts: receivables, payables on interest rate support in 2009 in accordance with the Appendix 01 of the Official Dispatch No. 4700/NHNN-TCKT dated 22 June 2009 (drawn for the whole year 2009, not for each month).

- Settlement reports made in accordance with the appendix of this Official Dispatch, including: detailed report on amount that has been used for interest rate support under the Appendix 01; detailed report on the amount of interest rate support that has been recovered for refund to the State under the Appendix 02; Application for final settlement of interest rate support amount for short term loans under the appendix 03

- Credit contract, covenant (debenture) and related documents proving that the loan is qualified/eligible for interest rate support in accordance with provisions of applicable laws; where credit contract, covenant (debenture) and credit documents, files prepared by commercial banks are copies, then a true copy stamp of the bank should be affixed and they must be supported by signature of a competent authority, clearly stating full name; for documents, vouchers printed out from computer program, they must be signed by competent authority with full name, seal of commercial bank.

b. At head office of commercial bank

- Reports from February to December of 2009 (8 months) sent by commercial bank to State Bank of Vietnam as basis for transferring 80% of interest rate support amount, including the report on the performance of loan interest rate support in accordance with provisions in the Circular No. 02/2009/TT-NHNN dated 3 February 2009 and the Circular No. 04/2009/TT-NHNN dated 13 March 2009; the List of turnover and balance of accounts: receivables, payables on interest rate support in accordance with guidance in the Official Dispatch No. 4700/NHNN-TCKT.

- Voucher (transfer slip or Credit transfer Order) of Banking Operation Department on transfer of money for interest rate support to commercial bank

- Report on final settlement of interest rate support amount in accordance with provisions in the Directive No. 02/CT-NHNN dated 17 December 2009.

- Settlement reports under the appendix of this dispatch, including: General report on the amount that has been used for interest rate support under the Appendix 04; General report on interest rate support amount that has been recovered for refund to the State under the Appendix 05; general report on received amount of interest rate support under the Appendix 06; Application for the final settlement of interest rate support amount to short term loans under Appendix 07;

- Explanation document for reports (if any) and dealing with related issues in the settlement process of interest rate support.

3. Procedures, process for final settlement of interest rate support amount of commercial bank

a. At branches, operation department of commercial bank

- To carry out verification, reconciliation of vouchers, documents, materials related to interest rate support to deal with errors during the implementation of interest rate support to customers; to be responsible to General Manager and to the law for accuracy and honesty of vouchers, documents, materials and data for final settlement of interest rate support.

- To prepare a Detailed List of Interest rate Support Confirmation by each borrower, which includes some main contents as follows: number, date of interest rate support Confirmation; number of credit contract; amount of interest rate support already given

- To prepare a List of turnover and balance of accounts: receivables, payables on interest rate support in 2009 on the basis of accounting book of accounts: 3559- realized receivables on interest rate support, 3539- unrealized receivables on interest rate support, 4599- Receiving money for interest rate support, 4539 – Amount of interest rate support already recovered for refund to the State, 941- Amount of loan interest entitled to interest rate support, but not yet realized and being followed up off-balance sheet.

- After drawing the detailed List of Confirmation of Interest rate support by each borrower, the List of turnover and balance of accounts receivables, payables on interest rate support in 2009 and verifying the correctness, accuracy of vouchers, files and documents on the final settlement of interest rate support, branches and operation department shall prepare 2 sheets of application for final settlement of interest rate support, 01 sheet shall be kept at the branch, operation department and 01 sheet shall be sent to head office of the commercial bank for consolidation and carry out the final settlement of interest rate support amount with the State Bank of Vietnam. Application file for final settlement of interest rate support amount includes:

+ A detailed report on the amount of interest rate support under the appendix 01 of this official dispatch, prepared on the basis of the detailed List of Confirmation of interest rate support by each borrower and the accounting List of loan interest amount payable and loan interest amount entitled to interest rate support of borrowers till 31 December 2009, of which interest payment period has not become due.

+ A detailed report on amount of interest rate support that has been recovered for refund to the State under the Appendix 02 of this official dispatch, prepared on the basis of vouchers, documents and detailed book for following up amount of loan interest entitled to interest rate support, already recovered and not yet recovered of customers.

+ An application for final settlement of interest rate support under Appendix 03 of this official dispatch, prepared on the basis of detailed reports and vouchers, documents related to the final settlement of interest rate support.

- To prepare related vouchers, documents for the purpose of internal inspection, audit of commercial bank and inspection of the State Bank over the final settlement of interest rate support.

b. At head office of commercial bank:

- To carry out internal audit for the final settlement of interest rate support of each branch, operation department; to carry out the final settlement of interest rate support in the entire system; to seriously deal with errors arising during the settlement process in accordance with applicable laws; to take responsibility to the law for the accuracy and honesty of vouchers, files, documents, data of interest rate support settlement. General Manager (Manager for the case where General Manager is not available in accordance with provisions of applicable laws) shall be responsible for signing settlement reports of interest rate support amount.

- To examine, check reporting data of each branch, operation department against the data already accounted in the account 3539- Realized receivables on interest rate support; Account 3539- Unrealized receivables on interest rate support; Account 4539- Interest rate support amount that has been recovered for refund to the State; Account 4599- receiving money for interest rate support; Account 941- Amount of unrealized loan interest, being followed up off-balance sheet and reports, documents on following up loan interest amount that has been used for interest rate support, but not yet recovered of borrowers at branches, operation departments.

- To appraise and deal with issues related to interest rate support settlement of branches, operation departments.

- To draw 02 sheets of application file for final settlement of interest rate support, 01 sheet is kept at commercial bank and 01 sheet shall be sent to the State Bank of Vietnam after 30 days at the latest since the date of signing this official dispatch; the application file for final settlement of interest rate support shall include:

+ A general report on final settlement of interest rate support amount under the appendix 04, a general Report on interest rate support amount that has been recovered for refund to the State under the appendix 05, a general Report on received amount of interest rate support under the appendix 06, an Application for final settlement of interest rate support under the appendix 07 in this dispatch.

+ List of turnover and balance of accounts receivables, payables on interest rate support in 2009 under the appendix 01 of the Official Dispatch No. 4700/NHNN-TCKT.

- To approve the final settlement of branches, operation departments under the notice of final settlement of interest rate support amount of State Bank of Vietnam.

c. Cases arising from 1 January 2010 to the date when the State Bank of Vietnam gives notice of recognition of final settlement of interest rate support amount for the commercial bank, then the commercial bank shall draw a report on supplement of documents of interest rate support amount settlement as follows:

- An additional report on receipt of interest rate support amount in rest months of 2009 from the State Bank of Vietnam under the appendix 08

- An additional report on amount of interest rate support that has been recovered for refund to the State under appendix 09 for following cases:

+ Examining commercial banks or examining, inspecting competent authorities detect that loans are enjoying interest rate support not in accordance with provisions of applicable law and commercial banks must recover amount of interest rate support already given to borrowers.

+ Commercial banks which have reduced amount of loan interest payable to borrowers till 31 December 2009 and the interest payment period has not become due, and on the interest payment period after 31 December 2009, borrowers cannot make payment of interest, commercial banks shall account to recover the reduced amount of interest rate support for borrowers.

- Report on other cases during the final settlement of interest rate support amount.

4. State Bank of Vietnam shall inspect application files for final settlement and implementation of settlement of interest rate support amount for commercial banks as follows:

a. To inspect application files for final settlement of interest rate support amount sent by commercial banks to State Bank of Vietnam; reporting data of final settlement of commercial banks and data of following up, accounting of State Bank of Vietnam; to deal with issues arising during the process of examining settlement documents.

b. To give notice of result of interest rate support amount settlement for each commercial bank.

5. To deal with issues after State Bank of Vietnam gives a notice of final settlement of interest rate support amount:

a. Based on result of interest rate support amount settlement, the State Bank of Vietnam and commercial banks shall deal with cases of excess, deficit of interest rate support amount as follows:

- Commercial banks shall return the State Bank of Vietnam excessive amount of interest rate support compared with amount of interest rate support to be finalized which is equal to (=) the amount transferred by the State Bank of Vietnam for giving interest rate support to commercial banks under reports on amount of interest rate support from February to December 2009 minus (-) amount of interest rate support to be finalized.

- State Bank of Vietnam shall transfer deficit amount of interest rate support compared with the amount of interest rate support to be finalized for the commercial bank, equal to the difference of amount of interest rate support to be finalized minus (-) amount of interest rate support transferred by State Bank of Vietnam to commercial banks under reports on amount of interest rate support from February to December 2009.

b. To deal with cases arising after final settlement of amount of interest rate support under provisions in point 4.3 item I, Directive 02/CT-NHNN and in accordance with provisions of applicable laws.

c. Commercial banks shall carry out accounting, document archive and deal with issues arising after the final settlement in accordance with guideline in the Directive No. 02/CT-NHNN, paragraph 5 of the Official Dispatch No. 4700/NHNN-TCKT, paragraph 2 of the Official Dispatch No. 8124/NHNN-TCKT dated 15 October 2009 and related provisions of applicable laws.

detailed report on the amount

that has been used for interest rate support

From 01 February 2009 to 31 December 2009

Unit: VND

Instructions for consolidation and sending of report:

1. Instruction to the consolidation of report:

(2) The Commercial Bank shall draw up a detailed List of Confirmation of interest rate support by each borrower; the List shall consist of such contents as: Ordinal number; number, date of the Confirmation of interest rate support; number of the credit contract; loan interest amount already used for interest rate support. On that basis, the Commercial Bank shall totalize the loan interest amount that has already been deducted in respect of each borrower.

(3) The Commercial Bank shall draw up a List of receivable interest of borrowers entitled to interest rate support in accordance with provisions of the Official Dispatch No.1444/NHNN-CSTT dated 26/2/2010. On that basis, the Commercial Bank shall totalize the loan interest amount that has already been deducted for the borrower by the Commercial Bank, but the term of interest payment of the loan has not become due yet, therefore the Confirmation of interest rate support is unavailable.

2. Instructions to the sending of report

- Sending units: Branches of the Commercial Bank shall send their report to the head office of the very Commercial Bank.

- Directly contacting the head office of the Commercial Bank.

detailed report on the amount of interest rate support

that has been recovered for refund to the State

From 1 February 2009 to 31 December 2009

Unit: VND

Instructions for the consolidation and sending of report:

1. Instruction to the consolidation of report:

(1) Loans that have been given interest rate support, but not in compliance with provisions of applicable laws, and the Commercial Bank has recovered the loan interest amount that was deducted to the customer.

(2) Loans that have been given interest rate support, but not in compliance with provisions of applicable laws, and the Commercial Bank has not recovered yet the loan interest amount that was deducted to the customer.

2. Instructions to the sending of the report

- Sending units: Branches of the Commercial Bank shall send their report to the head office of the very Commercial Bank.

- Directly contacting the head office of the Commercial Bank.

Appendix 03

socialistrepublic of vietnam

Independence– Freedom – Happiness

---------------------------

application for the final settlement of amount of interest rate support to short term loan

To: ………………………… (1)

With a view to implementing the Decision No.131/QD-TTg dated 23 January 2009, the Decision No.333/QD-TTg dated 10 March 2009 of the Prime Minister, the Circular No.02/TT-NHNN dated 03 February 2009, the Circular No.04/2009/TT-NHNN dated 13 March 2009 and guiding documents of the State Bank of Vietnam, …….. (2) would like to report and propose the Head Office to make final settlement to the amount of interest rate support to short term loans in Vietnamese Dong of organizations, individuals at the branch/operation department as follows:

Unit: VND

We would like to undertake and take full responsibility to the law for the accuracy of this data.

Instructions:

(1) Name of the Head office of the Commercial Bank.

(2) Name of the branch/operation department of the Head office of the Commercial Bank.

general report on the amount

that has been used for interest rate support

From 01 February 2009 to 31 December 2009

Unit: VND

Instructions to the consolidation and sending of report:

- The General Manager (Manager for the case where there is no General Manager in accordance with provisions of applicable laws) shall be responsible for signing the report.

- Titles of Chief Accountant (Head of Accounting Division), Head of Internal Audit Division shall be responsible for signing the report in line with provisions of applicable laws. Where these titles are unavailable, the Commercial Bank shall send a written confirmation about the vacancy of these titles and replace with other titles who have equivalent responsibilities and authorities in conformity with applicable provisions and be responsible to the law for the signature on behalf of such titles.

1. Instructions to the consolidation of report:

(2) Loan interest amount that the Commercial Bank has deducted for the customer and the Confirmation of interest rate support is available

(3) Loan interest amount that the Commercial Bank has deducted for the customer, but the term of loan interest payment has not been due yet, as a result, the Confirmation of interest rate support is unavailable, and in respect of which a List of receivable interest of customer entitled to interest rate support in accordance with provisions of the Official Dispatch No.1444/NHNN-CSTT dated 26/2/2010.

2. Instructions to the sending of the report:

- Sending units: Head office of commercial banks shall send reports to the State Bank of Vietnam (the Monetary Policy Department).

- Report recipient: the Monetary Policy Department – State Bank of Vietnam (email:phongcstd@sbv.gov.vn; fax: 04-38246953/38240132).

- Time of sending report: after 30 days since the receipt of this Official Dispatch.

- State clearly the full name and phone number of the person in charge of answering details of the report upon request by the State Bank of Vietnam.

- During the implementation, any query arising should be timely reflected in writing or via the following numbers: 04-38246955; fax: 04-38246953.

general report on the amount of interest rate support

that has been recovered for refund to the State

From 1 February 2009 to 31 December 2009

Unit: VND

Instructions to the consolidation and sending of report:

- The General Manager (Manager for the case where there is no General Manager in accordance with provisions of applicable laws) shall be responsible for signing the report.

- Titles of Chief Accountant (Head of Accounting Division), Head of Internal Audit Division shall be responsible for signing the report in line with provisions of applicable laws. Where these titles are unavailable, the Commercial Bank shall send a written confirmation about the vacancy of these titles and replace with other titles who have equivalent responsibilities and authorities in conformity with applicable provisions and be responsible to the law for the signature on behalf of such titles.

1. Instructions to the consolidation of report:

(1) Loans that have been given interest rate support, but not in compliance with provisions of applicable laws, and the Commercial Bank has recovered the loan interest amount that was deducted to the customer.

(2) Loans that have been given interest rate support, but not in compliance with provisions of applicable laws, and the Commercial Bank has not recovered yet the loan interest amount that was deducted to the customer.

2. Instructions to the sending of the report:

- Sending units: Head office of commercial banks shall send reports to the State Bank of Vietnam (the Monetary Policy Department).

- Report recipient: the Monetary Policy Department – State Bank of Vietnam (email:phongcstd@sbv.gov.vn; fax: 04-38246953/38240132).

- Time of sending report: after 30 days since the receipt of this Official Dispatch.

- State clearly the full name and phone number of the person in charge of answering details of the report upon request by the State Bank of Vietnam.

- During the implementation, any query arising should be timely reflected in writing or via the following numbers: 04-38246955; fax: 04-38246953.

general report on the received amount OF interest rate support

From 1 February 2009 to 31 December 2009

Unit: VND

Instructions to the consolidation and sending of report:

- The General Manager (Manager for the case where there is no General Manager in accordance with provisions of applicable laws) shall be responsible for signing the report.

- Titles of Chief Accountant (Head of Accounting Division), Head of Internal Audit Division shall be responsible for signing the report in line with provisions of applicable laws. Where these titles are unavailable, the Commercial Bank shall send a written confirmation about the vacancy of these titles and replace with other titles with equivalent responsibilities and authorities in conformity with applicable provisions and be responsible to the law for the signature on behalf of such titles.

1. Instructions to the consolidation of report:

(1) Date where the Commercial Bank receives the money for interest rate support from the SBV.

(2) Number of vouchers in respect of the money transferred by the Banking Operation Department to the Commercial Bank.

(3) Amount of money that the Commercial Bank has received from the SBV in respect of the interest rate support.

2. Instructions to the sending of report:

- Sending units: Head office of commercial banks shall send reports to the State Bank of Vietnam (the Monetary Policy Department).

- Report recipient: the Monetary Policy Department – State Bank of Vietnam (email:phongcstd@sbv.gov.vn; fax: 04-38246953/38240132).

- Time of sending report: after 30 days since the receipt of this Official Dispatch.

- State clearly the full name and phone number of the person in charge of answering details of the report upon request by the State Bank of Vietnam.

- During the implementation, any query arising should be timely reflected in writing or via the following numbers: 04-38246955; fax: 04-38246953.

Appendix 07

socialistrepublic of vietnam

Independence– Freedom – Happiness

---------------------------

APPLICATION for the final settlement of amount of interest rate support to short term loans

To: The State Bank of Vietnam

(Monetary Policy Department)

With a view to implementing the Decision No.131/QD-TTg dated 23 January 2009, the Decision No.333/QD-TTg dated 10 March 2009 of the Prime Minister, the Circular No.02/TT-NHNN dated 03 February 2009, the Circular No.04/2009/TT-NHNN dated 13 March 2009 and guiding documents of the State Bank of Vietnam, …….. (1) would like to report and propose the Head Office to make final settlement to the amount of interest rate support to short term loans in Vietnamese Dong of organizations, individuals at the commercial bank as follows:

Unit: VND

We would like to undertake and take full responsibility to the law for the accuracy of this data.

Instructions:

(1) Name of the Commercial Bank

Note: - The General Manager (Manager for the case where there is no General Manager in accordance with provisions of applicable laws) shall be responsible for signing the report.

- Titles of Chief Accountant (Head of Accounting Division), Head of Internal Audit Division shall be responsible for signing the report in line with provisions of applicable laws. Where these titles are vacant, the Commercial Bank shall send a written confirmation about the vacancy of these titles and replace with other titles with equivalent responsibility and authority in conformity with applicable provisions and be responsible to the law for the signature on behalf of such titles.

additional report on the receipt of interest rate support amount

From 1 January 2010 to the date where the SBV notifies to recognize the final settlement

of the amount of interest rate support

Unit: VND

Instructions to the consolidation and sending of report:

- The General Manager (Manager for the case where there is no General Manager in accordance with provisions of applicable laws) shall be responsible for signing the report.

- Titles of Chief Accountant (Head of Accounting Division), Head of Internal Audit Division shall be responsible for signing the report in line with provisions of applicable laws. Where these titles are unavailable, the Commercial Bank shall send a written confirmation about the vacancy of these titles and replace with other titles with equivalent responsibilities and authorities in conformity with applicable provisions and be responsible to the law for the signature on behalf of such titles.

1. Instructions to the consolidation of report:

(1) Date where the Commercial Bank receives the money for interest rate support from the SBV.

(2) Number of vouchers in respect of the money transferred by the Banking Operation Department to the Commercial Bank.

(3) Amount of money that the Commercial Bank has received from the SBV in respect of the interest rate support.

2. Instructions to the sending of report:

- Sending units: Head office of commercial banks shall send reports to the State Bank of Vietnam (the Monetary Policy Department).

- Report recipient: the Monetary Policy Department – State Bank of Vietnam (email:phongcstd@sbv.gov.vn; fax: 04-38246953/38240132).

- Time of sending report: after 30 days since the receipt of this Official Dispatch.

- State clearly the full name and phone number of the person in charge of answering details of the report upon request by the State Bank of Vietnam.

- During the implementation, any query arising should be timely reflected in writing or via the following numbers: 04-38246955; fax: 04-38246953.

additional report on interest rate support amount that needs recovering

for refund to the state

From 1 January 2010 to the date where the SBV notifies to recognize the final settlement

of the amount of interest rate support

Unit: dong

Instructions to the consolidation and sending of report:

- The General Manager (Manager for the case where there is no General Manager in accordance with provisions of applicable laws) shall be responsible for signing the report.

- Titles of Chief Accountant (Head of Accounting Division), Head of Internal Audit Division shall be responsible for signing the report in line with provisions of applicable laws. Where these titles are unavailable, the Commercial Bank shall send a written confirmation about the vacancy of these titles and replace with other titles with equivalent responsibilities and authorities in conformity with applicable provisions and be responsible to the law for the signature on behalf of such titles.

1. Instructions to the consolidation of report:

(1) Loans which have been given interest rate support but not in compliance with provisions of applicable laws or amount of loan interest that Commercial Bank has reduced, but after 31/12/2009 on the interest payment period, the borrowers fail to pay interests. The commercial bank shall carry out the recovery of loan interest amount that has been reduced for the borrowers.

(2) Loans which have been given interest rate support but not in compliance with provisions of applicable laws or amount of loan interest that Commercial Bank has reduced, but after 31/12/2009 on the interest payment period, the borrowers fail to pay interests. The commercial bank shall carry out the recovery of loan interest amount that has been reduced for the borrowers.

2. Instructions to the sending of report:

- Sending units: Head office of commercial banks shall send reports to the State Bank of Vietnam (the Monetary Policy Department).

- Report recipient: the Monetary Policy Department – State Bank of Vietnam (email:phongcstd@sbv.gov.vn; fax: 04-38246953/38240132).

- Time of sending report: after 30 days since the signature of this Official Dispatch.

- State clearly the full name and phone number of the person in charge of answering details of the report upon request by the State Bank of Vietnam.

- During the implementation, any query arising should be timely reflected in writing or via the following numbers: 04-38246955; fax: 04-38246953.