Vietnam Asset Management Company given go-ahead to purchase bad debts at market prices.
The State Bank of Vietnam (SBV) has issued Decision No. 618/QD-NHNN approving the option of the Vietnam Asset Management Company (VAMC) buying bad debts at market prices.
The decision stipulates the scope, the object, and the conditions of such purchases.
It also regulates the purchasing order, the pricing principle, capital utilization in purchasing, and handling bad debts.
The responsibility of agencies under the SBV, local branches of the SBV, VAMC, and credit institutions in implementing the purchase of bad loans at market prices are also clearly defined.