Vietnam clarifies rules on loan loss provisions

Vietnam's central bank has issued a regulation clarifying how commercial banks must calculate and put aside their loan loss provisions, a central bank official said Wednesday.

Decision 488/2000/QD-NHNN5 replaces one issued 10 years ago which has now become outdated, said Nguyen Thanh Binh, director of the central bank's Banks and Credit Organisation Department."In 1990, the central bank issued a regulation requiring commercial banks to set aside 10% of their total profits to cover (loan-associ