State Bank urgently directs support to overcome consequences of storm No. 3

On the afternoon of July 25, the State Bank of Vietnam (SBV) informed that this agency has just issued an official dispatch requesting units to urgently deploy solutions to support people in overcoming the consequences of storm Wipha (storm No. 3).

Accordingly, from July 19 until now, storm No. 3 has made landfall with a wide range and intensity of impact, causing damage to people and property, affecting the lives and production of people in the Northern and North Central provinces.

To promptly support customers to overcome difficulties and restore production and business, on July 25, the State Bank of Vietnam issued Official Dispatch No. 6459/NHNN-TD requesting credit institutions, foreign bank branches and State Bank branches in Regions 1, 3, 4, 5, 6, 7, 8 and 12 to implement a number of solutions to support overcoming the consequences caused by the storm.

The circulation of storm No. 3 has caused heavy rain and flooding, causing serious damage to the North Central provinces.

For credit institutions, the State Bank of Vietnam directs branches and transaction offices to proactively review and assess the situation of customers who are borrowing capital to promptly apply support measures and remove difficulties for customers such as: restructuring debt repayment terms, considering interest rate exemptions and reductions, and continuing to provide new loans to restore production and business after the storm according to current regulations.

In addition, guide customers who are borrowing capital to complete documents and implement debt settlement measures according to regulations (if any).

For the State Bank branches in the regions, the State Bank requested the focal point to direct credit institutions in the area to urgently deploy customer support to help overcome the damage caused by storm No. 3; coordinate with departments, branches and sectors in the area to advise the People's Committees of provinces and cities on solutions to support people affected by damage and areas damaged by storm No. 3.

The State Bank requests the Chairman of the Board of Directors/Board of Management, General Directors of credit institutions and Directors of State Bank branches in the above-mentioned areas to urgently implement this.

During the implementation process, if any difficulties or problems arise beyond the authority of credit institutions and SBV branches in the regions, they must promptly report to SBV for consideration and handling.

FLOWING WATER

Source: https://www.sggp.org.vn/ngan-hang-nha-nuoc-chi-dao-khan-truong-ho-tro-khac-phuc-hau-qua-bao-so-3-post805445.html