Press Release on issuance of Circular No.29/2016/TT-NHNN
The Governor of the State Bank of Vietnam (SBV) issued Circular No. 29/2016/TT-NHNN on October 12, 216 on overdraft and overnight lending applicable to the inter-bank electronic payment. This Circular replaces Decision No. 04/2007/QD-NHNN of January 22, 2007, on overdraft and overnight lending applicable to Inter-bank electronic payment.
Circular No. 29/2016/TT-NHNN includes several main substances as follows:
- Governing scope, implementers and interpretation.
- Principles of overdraft and overnight lending applicable to the inter-bank electronic payment, valuable papers utilized in transactions of overdraft and overnight loans, overdraft limit, and interest rates for overnight loans.
- Implementation of overdraft and overnight lending, handling credit institutions with overdue overnight loan outstanding.
- Responsibilities of the SBV entities and credit institutions.
- Effective date and the implementation.
The Circular will take effect from March 25, 2017.
Translated by Le Hang