Press Release on issuance of Circular No.52/2018/TT-NHNN
Hanoi, December 31, 2018 – The Governor of the State Bank of Vietnam (SBV) issued Circular No.52/2018/TT-NHNN stipulating the ratings of credit institutions and foreign bank branches.
Circular No.52/2018/TT-NHNN applies to the ratings of credit institutions, including commercial banks, cooperative banks, finance companies, financial leasing companies and foreign bank branches, for the purpose of inspection, supervision and management of the credit institutions and foreign bank branches.
The new Circular is composed of 3 chapters and 28 articles specifying the criteria, the ranking indicators, methods of calculation and the ratings of the credit institutions and foreign bank branches.
Circular No.52/2018/TT-NHNN will take effect from April 1, 2019, and shall replace Decision No.06/2008/QD-NHNN dated March 12, 2008 regulating the ratings of the joint stock commercial banks, and shall apply to the ratings of the credit institutions and foreign bank branches in 2019.
Translated by Le Hang