Press Release on issuance of Circular No.10/2019/TT-NHNN
Hanoi, July 31, 2019 – The Governor of the State Bank of Vietnam (SBV) issued Circular No. 10/2019/TT-NHNN amending and supplementing a number of articles of Circular No.36/2016/TT-NHNN dated December 30, 2016 stipulating the sequences and procedures for carrying out banking inspection.
The new Circular is aimed at being in consistency with newly promulgated legal regulations and practical requirements.
The new Circular is composed of 3 Articles as follows:
- Article 1: Amending and supplementing a number of articles of Circular No.36/2016/TT-NHNN.
- Article 2: Implementation.
- Article 3: Effectiveness.
The main revised substances of the new Circular are related to the regulations on: (i) The authority of making decisions on inspection and re-inspection, (ii) Qualifications of an inspection team leader in line with the newly issued legal regulations; (iii) Suspension during an inspection.
The new Circular takes effect from September 15, 2019.
Translated by Le Hang