Press release on the issuance of Circular No.01/2019/TT-NHNN
On February 1st, 2019, the Governor of the State Bank of Vietnam (SBV) issued Circular No.01/2019TT-NHNN amending and supplementing a number of articles of Circular No. 30/2015/TT-NHNN issued on December 25th, 2015 regulating the licensing, organization and operations of non-bank credit institutions.
Circular No.01/2019/TT-NHNN is composed of 04 Articles with the following main substances:
First, the Circular amends and supplements the definition of a finance lessee and an operation lessee in accordance with the provisions of the 2015 Civil Code.
Second, the Circular amends and supplements regulations on the registration of the charter, the substances on amendments and supplements to the charter in accordance with the Law on Credit Institutions (as amended and supplemented).
Third, the Circular amends and supplements regulations on the Judicial record card in the dossier applying for a license of a non-bank credit institution in order to be in line with the current regulations of the SBV.
Fourth, the Circular amends and supplements regulations on the dossiers and the administrative procedures in Circular No. 30/2015/TT-NHNN in order to be in line with the Government's policy on reducing and simplifying business conditions stated in Official Note No. 413/TTg-TH dated March 30th, 2018.
Fifth, the Circular supplements the substances of depositing and receiving deposits by credit institutions, foreign bank branches, domestic and foreign financial institutions; lending to credit institutions, foreign bank branches, domestic and foreign financial institutions in accordance with the law on the operations of general financial companies, consumer credit finance companies in order to be in line with the SBV’s regulations on lending and borrowing activities; buying and selling termed papers of value among the credit institutions, foreign bank branches.
This Circular takes effect from March 20th, 2019.
Translated by VA