Press release on issuance of Circular No. 06/2022/TT-NHNN
Hanoi, June 30, 2022 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 06/2022/TT-NHNN amending and supplementing a number of Articles of Circular No. 50/2018/TT-NHNN dated December 31, 2018 of the SBV Governor stipulating the dossiers, sequences and procedures for requesting approval of a number of revised substances by commercial banks, foreign bank branches.
Circular No. 06/2022/TT-NHNN comprises of 04 Articles, specific as follows:
Article 1: Comprising of 08 paragraphs amending and supplementing a number of Articles and paragraphs of Circular No. 50/2018/TT-NHNN regulating the following substances:
(i) The principles for preparing and submitting a written request for the SBV’s approval of a certain change;
(ii) The authority of the SBV Governor in approving the changes;
(iii) The purchase of shares by organizations and individuals (including the purchase of shares by major shareholders) in case a joint stock commercial bank would like to raise its charter capital;
(iv) The inspection by the respective SBV provincial or municipal branch, where a commercial bank plans to place its head office, or a foreign bank branch plans to place its office, to confirm the eligibility of the relevant conditions for the head office of a commercial bank, the office of a foreign bank branch, which is planned to be placed in that province or municipality.
(v) The revision of the location substance of a commercial bank's head office or a foreign bank's branch office in the License issued by the SBV.
Article 2: Transitional provisions.
Article 3: Implementation arrangements.
Article 4: Enforcement.
The new Circular will take effect from August 15, 2022.
Translated by LK.