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blue-check From December 12th, 2021: The maximum limit of deposit insurance premium payment is VND 125,000,000

Decision No. 32/2021/QD-TTg dated October 20th, 2021 of the Prime Minster on limit of deposit insurance premium payment
Posted: 21/10/2021 11:20:24 AM | Latest updated: 1/11/2021 3:46:51 PM (GMT+7) | LuatVietnam: 5318 | Vietlaw: 534
VietlawOnline

The maximum limit of deposit insurance premium payment is increased from VND 75,000,000 (under Decision No. 21/2017/QD-TTgstatus1 ) to VND 125,000,000, applicable from December 12th, 2021.

According to clause 1 Article 24 of the Law on Deposit insurance No. 06/2012/QH13status2 , the limit of premium payment is the maximal amount that a person depositing money at a bank can receive when the bank is declared being bankrupt or insolvent and the bank of course must has the Certificate of deposit insurance participation granted by the State Bank of Vietnam under Decree No. 68/2013/ND-CP .

The deposit of the insured persons of deposits including the principal and interest exceeding the limit of premium payment shall be settled in the process of assets treating of the deposit insurance participating organization as prescribed by the law.

This Decision takes effect December 12th, 2021 and replaces Decision No. 21/2017/QD-TTgstatus1 dated June 15th, 2017.

Ms Phuong Thao (VietlawOnline.com)
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Effective Date 12-Dec-2021
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 534
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enflag pdficon QD32-20102021TTg[VLO].pdf
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