On October 9, 2020, the State Bank of Vietnam (SBV) issued Decision No. 1771/QD-NHNN revising the License of Lien Viet Post Commercial Joint Stock Bank (LienVietPostBank).
Accordingly, the SBV Governor has approved of the supplementation of a substance in Point d, Paragraph 2, Article 3 of License No. 91/GP-NHNN dated March 28, 2008 issued for LienVietPostBank, to read as follows: “Trading and providing interest rate derivatives in accordance with the provisions of law and the guidance of the SBV, with the following specific scope of operation: (i) term interest rate derivatives; (ii) one-currency interest rate swaps, including: one-currency interest rate swaps; accrual one-currency interest rate swaps; (iii) two-currency interest rate swaps, or cross currency swaps, including: two-currency interest rate swaps, accrual two-currency interest rate swaps.
LienVietPostBank is responsible for implementing the above-mentioned operations allowed in this Decision in accordance with the law and the SBV's regulations; implementing the procedures as required in 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).
This Decision took effect from the date of signing and is an integral part of Decision No. 91/GP-NHNN dated March 28, 2008 issued to LienVietPostBank.
VA