Press release on Circular 16/2016/TT-NHNN
The Governor of the State Bank of Vietnam (SBV) issued Circular No.16/2016/TT-NHNN dated June 30, 2016 to revise several articles of Circular 34/2013/TT-NHNN of the SBV dated December 31, 2013 stipulating the issuance of promissory notes, bills, certificates of deposit and domestic bonds by credit institutions and foreign bank branches.
The revised substances are as follows: (i) Regulations on the issuance principles of bonds; (ii) Repurchasing bonds by credit institutions and foreign bank branches; (iii) Plan on the issuance of bonds; (iv) Dossiers of application for SBV’s approval to issue severally bonds in the fiscal year by credit institutions with the state ownership of over 50% of charter capital; and dossier of credit institutions and foreign bank branches to offer bonds to the public; (v) Procedures to get the SBV’s permission for credit institutions with the state ownership of over 50% of charter capital to issue severally bonds in the fiscal year; and procedures for credit institutions and foreign bank branches to offer bonds to the public (vi) Limitations for issuers and buyers of convertible bonds, warranty-linked bonds; (vii) bond issuing organization; (viii) Responsibilities of credit institutions and foreign bank branches; (ix) Responsibilities of SBV's entities.
The Circular came into effect from July 1, 2016.
Translated by Viet Huong