The Governor of the State Bank of Vietnam (SBV) issued Document No. 1264/NHNN-TTGSNH on March 5 to approve the plan on the issuance of special bonds in 2015 of Vietnam Asset Management Company (VAMC).
Accordingly, the SBV Governor approved the plan on the issuance of special bonds in 2015 of VAMC with the main substances as follows: the maximum total value of special bonds issued in 2015 is VND 80,000 billion; the time of the issuance of special bonds is from January 01, 2015 to December 31, 2015; the maximum maturity of special bonds is five years. VAMC will decide the maturity for every special bond in accordance with every purchased non-performing loan (NPL) and the agreement of trading and resolving NPLs among VAMC and credit institutions.
After purchasing NPLs of credit institutions, VAMC is requested to closely coordinate with credit institutions to urgently implement measures of rescheduling debts, supporting borrowers and resolving NPLs in line with law.
TLH