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.
STATE BANK OF VIETNAM No.: 85/2025/TT-NHNN SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness Hanoi, December 31, 2025
CIRCULAR Amending and supplementing a number of circulars of the Governor of the State Bank of Vietnam regulating letter of credit operations and guiding the implementation of some credit programs due to changes in organizational structure
Pursuant to the Law on the State Bank of Vietnam No. 46/2020/QH12; Pursuant to the Law on Credit Institutions No. 32/2024/QH15, amended and supplemented by Law No. 96/2025/QH15; Pursuant to Decree No. 26/2025/ND-CP of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam; At the proposal of the Director of the Department of Credit for Economic Sectors; The Governor of the State Bank of Vietnam promulgates a Circular amending and supplementing a number of circulars of the Governor of the State Bank of Vietnam regulating letter of credit operations and guiding the implementation of some credit programs due to changes in organizational structure.
Chapter I AMENDING AND SUPPLEMENTING A NUMBER OF ARTICLES OF CIRCULAR NO. 11/2013/TT-NHNN REGULATING HOUSING SUPPORT LOANS UNDER RESOLUTION NO. 02/NQ-CP
Article 1. Amending and supplementing Clause 5, Article 8 “5. Refinancing process and procedures: a) The State Bank of Vietnam signs a master refinancing agreement for housing support loans with each bank; b) Monthly, periodically no later than the 5th day of the month immediately following the reporting month, the bank sends a letter and a report on housing support loan results