Press release on issuance of Circular No. 22/2023/TT-NHNN
Hanoi, December 29, 2023 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 22/2023/TT-NHNN amending and supplementing a number of Articles of Circular No. 41/2016/TT-NHNN dated December 30, 2016 stipulating the capital adequacy ratios of the commercial banks and the foreign bank branches.
The new Circular is composed of 4 Articles, specifically as follows:
- Article 1: comprising of 17 Paragraphs amending and supplementing a number of Articles of Circular No. 41/2016/TT-NHNN, specifically as follows: (i) Amending and supplementing the risk coefficient over the assets that are payable by foreign bank branches operating in other countries, or Vietnamese banks’ branches operating overseas; (ii) Supplementing regulations to support the lending operations for social housing projects, Government-supported housing programs; lending to agriculture and rural areas; regulations on the risk coefficient over the assets that are payable by any credit institution that is subject to a mandatory transfer; (iii) Supplementing regulations on the risk coefficient over the credit granted to real estate projects in industrial parks; (iv) Amending and supplementing a number of Articles and paragraphs for clarification and alignment with other applicable laws in order to facilitate the implementation by the commercial banks and the foreign bank branches.
- Article 2: Replacing Appendices 01, 02, 03 and 06 of Circular No.41/2016/TT-NHNN.
- Article 3: Implementation arrangements.
- Article 4: Entry into force
The new Circular will enter into force on July 1, 2024.
Translated by Le Hang