On December 24, 2019, the State Bank of Vietnam (SBV) issued Decision No. 2616/QĐ-NHNN supplementing the substances on the operations stated in the License of Citibank, N.A. – Hanoi branch.
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Accordingly, the SBV supplements a number of substances of Article 4 of License on the establishment of a foreign bank branch No. 86/GP-NHNN dated August 16, 2019 of the SBV Governor granted to Citibank, N.A. – Hanoi branch, to read as follows: Trading and providing interest rate derivatives in the domestic market; Providing derivatives with centralized market prices, specifically: Non-standard contracts for commodity price swaps, Non-standard contracts for commodity price options, Non-standard contracts for commodity selling price options, Non-standard contracts for commodity price ceiling options, Other operations upon getting approval from the SBV”.
Citibank N.A. – Hanoi branch is responsible for complying with the applicable laws and regulations on the above-mentioned supplemented operations; for implementing the procedures in line with Paragraph 3 of Article 18b of Circular No.40/2011/TT-NHNN dated December 15th, 2011 on granting licenses to commercial banks, foreign bank branches and representative offices of foreign credit institutions and other foreign institutions with banking operations in Vietnam (as amended and supplemented by Circular No.17/2017/TT-NHNN dated November 20th, 2017).
The decision took effect from the date of signing and is an integral part of License on the establishment of a foreign bank branch No. 86/GP-NHNN dated August 16, 2019 of the SBV Governor granted to Citibank, N.A. – Hanoi branch.
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