Regulatory Alerts2026-01-19
Circular No. 85/2025/TT-NHNN amending and supplementing SBV Governor's circulars on letter of credit operations and guiding credit programs due to organizational restructuring
The State Bank of Vietnam's Circular No. 85/2025/TT-NHNN amends and supplements several existing circulars by the SBV Governor, primarily concerning letter of credit operations and guiding credit programs affected by organizational restructuring. It revises refinancing procedures for housing support loans, updates responsibilities for various SBV departments in managing credit policies across sectors like agriculture, fisheries, forestry, and supporting industries, and modifies regulations for credit guarantee funds for small and medium-sized enterprises. The Circular also clarifies letter of credit responsibilities for resident and non-resident customers, repealing specific articles and appendices from previous circulars, and becomes effective on December 31, 2025.