Press release on issuance of Circular No. 18/2021/TT-NHNN
Hanoi, November 18, 2021 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 18/2021/TT-NHNN regulating the rediscounting operations of negotiable instruments among credit institutions, foreign bank branches.
The Circular is comprised of 14 Articles, namely: Scope of application; Subjects of application; Principles for rediscounting negotiable instruments; Negotiable instruments eligible for rediscounting; Rediscounting methods; Currencies used for the rediscounting operations; Rediscounting timelines; Rediscounting prices; Redemption prices for repurchasing negotiable instruments; Rediscounting interest rates; Rediscounting agreements; Transferring of negotiable instruments; Internal regulations on the rediscounting operations of negotiable instruments; Accounting for and statistical reporting; Responsibilities of the relevant entities.
The Circular will take effect from January 07, 2022.
Translated by LK.