CIRCULAR NO 312016TT NHNN DATED NOVEMBER 15, 2016, AMENDMENT AND SUPPLEMENT TO a NUMBER OF ARTICLES OF CIRCULAR NO 242015TT NHNN ON GRANT OF FOREIGN CURRENCY LOANS TO RESIDENTS b

STATE BANK OF
VIETNAM
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SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
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No: 31/2016/TT-NHNN

Hanoi, November 15, 2016

CIRCULAR
AMENDMENT AND SUPPLEMENT TO A NUMBER OF ARTICLES OF CIRCULAR
NO.24/2015/TT-NHNN ON GRANT OF FOREIGN CURRENCY LOANS TO RESIDENTS BY
CREDIT INSTITUTIONS AND BRANCHES OF FOREIGN BANKS DATED DECEMBER 08,
2015 BY THE GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law No.46/2010/QH12 on the State bank of Vietnam dated June 16, 2010;
Pursuant to the Law No.47/2010/QH12 on credit institutions dated June 16, 2010;
Pursuant to the Ordinance No.28/2005/PL-UBTVQH11 on Foreign Exchange dated December 13,
2005 and the Ordinance amending and supplementing a number of Articles of the Ordinance No.
06/2013/PL-UBTVQH13 dated March 18, 2013;
Pursuant to the Government’s Decree No.70/2014/ND-CP dated July 17, 2014 detailing a number
of Articles of the Ordinance on Foreign Exchange and their amended and supplemented ordinance;
Pursuant to the Government's Decree No. 156/2013/ND-CP dated November 11, 2013 defining the
functions, rights, obligations and organizational structure of the State bank of Vietnam;
Upon request by the Directors of the Department of Monetary policies;
The Governor of the State bank of Vietnam hereby issues this Circular on amendment and
supplement to a number of articles of Circular No.24/2015/TT-NHNN on grant of foreign currency
loans to residents dated December 08, 2015 by the Governor of the State Bank of Vietnam .
Article 1.Point c clause 1 Article 3 of the Circular No.24/2015/TT-NHNN is amended and

supplemented as follows:
“c) Short-term loans granted to meet domestic entities’ demand for short-term capital for the
purpose of implementation of plans for production and trading in exports through Vietnam’s border
checkpoint from which foreign currency revenue is sufficient to repay such loans. After receipt of a
foreign currency loan disbursed by a branch of a foreign bank, the borrower must sell such
borrowed foreign currency to a credit institution or branch of a foreign bank in the form of spot
foreign currency transaction, except where such loan is used for making payment in which foreign
currency is compulsory. This provision comes into effect until December 31, 207 inclusive”.
Article 2.
A form attached hereto will replace form No.2 issued together with Circular No.24/2015/TTNHNN.
Article 3. Implementation


1. This Circular enters into force from January 01, 2017.
2. The Circular No. 07/2016/TT-NHNN dated May 27, 2016 by the Governor of the State Bank on
amendment and supplement to a number of Articles of the Circular No.24/2015/TT-NHNN on grant
of foreign currency loans to residents by credit institutions and branches of foreign banks dated
December 08, 2015 by the Governor of the State Bank of Vietnam shall be null and void from the
effective date of this Circular.
3. The Chief of Office, Directors of Department of Monetary Policies and Heads of affiliates of the
State Bank of Vietnam, Director of branches of the State Bank in provinces and direct-controlled
municipalities; Presidents of Boards of Directors, Presidents of Boards of Members and Directors
Generals (Directors) of credit institutions and branches of foreign banks shall be responsible for
implementation of this Circular. /.

PP. GOVERNOR
DEPUTY GOVERNOR
.

Nguyen Thi Hong

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