On April 23, 2023, the State Bank of Vietnam issued Circular 02/2023/TT-NHNN on rescheduling debt repayment and maintaining debt groups by credit institutions and foreign bank branches in order to support customers facing difficulties (Circular 02). Based on the positive effects of the policy on rescheduling debt repayment and maintaining debt groups specified in Circular 01/2020/TT-NHNN (and its amendments and supplements) to support the customers affected by the COVID-19 pandemic, Circular 02 is developed and issued with the goal to continue supporting people and enterprises to overcome difficulties in production and business activities, with the inherited and modified contents based on the provisions of Circular 01/2020/TT-NHNN (amended and supplemented). Circular 02 takes effect from April 24, 2023 with several noteworthy contents as follows:
(i) Regulations on cases where credit institutions and foreign bank branches consider and decide to reschedule debt repayment;
(ii) Regulations on maintaining debt groups and classifying debts.