Continuing the 9th Session, under the direction of Vice Chairman of the National Assembly Vu Hong Thanh, on the morning of June 27, the National Assembly voted to pass the Law amending and supplementing a number of articles of the Law on Credit Institutions with 435/443 National Assembly deputies present participating in the vote in favor.
The Law amending and supplementing a number of articles of the Law on Credit Institutions consists of 3 articles, effective from October 15, 2025.
State Bank is allowed to grant special loans with 0% interest rate and no collateral.
Presenting the report on receiving and explaining the opinions of the National Assembly Standing Committee on the draft Law amending and supplementing a number of articles of the Law on Credit Institutions before the button was pressed, Governor of the State Bank of Vietnam Nguyen Thi Hong said that the National Assembly Standing Committee agreed with the decentralization of authority to decide on special lending for loans with interest rates of 0%/year and loans without collateral from the Prime Minister to the State Bank of Vietnam . At the same time, she requested the Government to continue to perfect regulations on special lending interest rates based on the opinions of competent authorities, ensuring consistency with practice and the monetary policy management mechanism.
Regarding this content, the Government has proposed to adjust the wording of the draft Law to ensure that special lending by the State Bank is only carried out when credit institutions fall into a state of extreme liquidity difficulty or to implement a recovery plan or a compulsory transfer plan with the goal of protecting the legitimate rights of depositors and ensuring the safety of the credit institution system.
Specifically, the draft Law stipulates: "The State Bank shall decide to grant special loans with or without collateral to credit institutions in the cases specified in Clause 1, Article 192 of this Law. The collateral for special loans from the State Bank shall be as prescribed by the Governor of the State Bank. The interest rate for special loans of the State Bank shall be 0%/year."
There will be detailed instructions on the conditions for collateral assets to be seized by credit institutions.
The Law amending and supplementing a number of articles of the Law on Credit Institutions also officially legalizes the right to seize collateral of credit institutions.
Previously, the National Assembly Standing Committee requested a thorough review of regulations related to the conditions for the right to seize collateral of bad debts; clarify the roles, responsibilities, and coordination mechanisms between the People's Committees at the commune level and the police agencies at the commune level to ensure the legitimate rights and interests of the person whose collateral is seized and related parties. At the same time, it requested the Government to continue to inherit 02 regulations in Resolution No. 42/2017/QH14 dated June 21, 2017 of the National Assembly on piloting the handling of bad debts of credit institutions.
The Government's report and explanation stated that the draft Law only stipulates the participation of the People's Committee at the commune level and the police at the commune level in the process of confiscating property. Therefore, it is basically consistent with the orientation on rearranging and reorganizing administrative units at all levels and building a 2-level local government model.
The Government accepts the inheritance of 2 provisions in Resolution No. 42/2017/QH14 and revises the draft Law in the direction of adding at Point d, Clause 2, Article 198a the condition that "the secured property is not a disputed property in a case that has been accepted but has not been resolved or is being resolved at a competent Court"; at the same time, adding at Point c, Clause 3, Article 198a the form of information disclosure "posting a notice at the headquarters of the People's Committee of the commune where the guarantor registers the address according to the security contract and the headquarters of the People's Committee of the commune where the secured property is located" before proceeding to seize the secured property which is real estate. However, for secured property which is movable, due to the "mobile" and easily movable nature of the movable property, the Government would like to maintain the form of information disclosure according to the draft Law submitted to the National Assembly Standing Committee for comments.
In addition, to ensure that the procedures for seizing secured assets are carried out strictly to both remove obstacles and minimize possible impacts, the Government proposes to amend the draft Law in the direction of adding the provision that "secured assets to be seized must meet the conditions prescribed by the Government".
The Government said that the drafting agency will coordinate with relevant agencies, ministries and branches (Ministry of Public Security, Ministry of Justice, Ministry of Foreign Affairs, etc.) to study the conditions of collateral assets of bad debts that credit institutions are entitled to seize in order to concretize the policy of developing the private economy according to Resolution No. 68-NQ/TW...
Regarding collateral as evidence in criminal cases, as exhibits, and means of administrative violations in administrative violations, the Government has accepted the opinions of the National Assembly Standing Committee and revised Article 198c of the draft Law in the direction of regulating the return of collateral as evidence in criminal cases at the request of the secured party if the secured contract has an agreement that the secured party agrees to allow the secured party to seize the collateral of the bad debt when the secured property is handled in accordance with the provisions of law on securing the performance of obligations.
The Government would like to accept and remove the content related to the return of exhibits and administrative means in administrative violations in the draft Law amending and supplementing a number of articles of the Law on Credit Institutions to focus on the draft Law amending and supplementing a number of articles of the Law on Handling of Administrative Violations.
Regarding the Law's effectiveness, the National Assembly Standing Committee agreed with the Government's plan to remove the transitional provisions for special loans decided by the State Bank before the effective date of this Law and stipulate the effective date of the Law from August 1, 2025.
However, in order to have enough time to research and develop a Government Decree regulating the conditions of collateral for bad debts and ensuring the implementation of the Law, the Government proposes that the Law take effect from October 15, 2025.
Source: https://baodaknong.vn/chinh-thuc-thong-qua-luat-sua-doi-bo-sung-mot-so-dieu-cua-luat-cac-to-chuc-tin-dung-257075.html
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