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blue-check New regulations on financial regime applicable to banks

Decree No. 93/2017/ND-CP dated August 7th, 2017 of the Government on the financial regime applicable to credit institutions, branches of foreign banks and financial supervision, assessment of effectiveness of state capital investment in wholly state-owned credit institutions and partially state-owned credit institutions
Posted: 10/8/2017 1:26:43 PM | Latest updated: 1/3/2018 10:12:50 AM (GMT+7) | LuatVietnam: 4280 | Vietlaw: 344
VietlawOnline

In comparison with the earlier regulations, this Decree adds more regulations on financial supervision, assessment of effectiveness of state capital investment in wholly state-owned credit institutions and partially state-owned credit institutions.

In addition, according to the new regulations, in case a credit institution or foreign bank branch fails to reach or likely fails to reach the minimum capital safety ratio according to the Law on credit institutions and the guidelines of the State bank of Vietnam, within a maximum duration of 01 month, it shall report to the State bank of Vietnam the remedies to reach the minimum capital safety ratio.

The “remedies” may be the plan on transfer of the invested capital portions; plans on increasing charter capital; provided capital; or other plans.

This Decree takes effect from September 25th, 2017. The contents of financial supervision, assessment of effectiveness of state capital investment in wholly state-owned credit institutions and partially state-owned credit institutions take effect from 2018.

This Decree replaces Decree No. 57/2012/ND-CPstatus1 dated July 20th, 2012.

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Effective Date 25-Sep-2017
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 344

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Timeline

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