Press release on issuance of Circular No. 21/2016/TT-NHNN

Press release on issuance of Circular No. 21/2016/TT-NHNN dated June 30, 2016 on revising some contents of Circular No. 04/2013/TT-NHNN dated March 1, 2013 issued by Governor of the State Bank of Vietnam (SBV) on discounting negotiable instruments and other valuable papers of credit institutions, foreign banks’ branches for their customers.

The SBV Governor issued Circular No. 21/2016/TT-NHNN on June 30, 2016 on revising some contents of Circular No. 04/2013/TT-NHNN dated March 1, 2013 issued by SBV Governor on discounting negotiable instruments and other valuable papers of credit institutions, foreign banks’ branches with their customers. The main contents are as follows:

Amending Item 1 Article 2: “1. Commercial banks, financial companies, financial leasing companies, cooperative banks, foreign bank branches are allowed to discount negotiable instruments and other valuable papers in line with License of the establishment and operation, and License of operation granted by the SBV”.

Adding Item 9 to Article 5: “Credit institutions, foreign banks’ branches are responsible to issue internal regulations on discounting negotiable instruments and other valuable papers in accordance with regulations in the Circular, Law on Credit Institutions and relevant laws.

Terminate Item 2 Article 2 and Article 4 of Circular No.04/2013/TT-NHNN

This Circular took effect from July 1, 2016.

The State Bank of Vietnam

Translated by Thoa Le