Circular No. 08/2019/TT-NHNN dated July 04, 2010 of the State Bank of Vietnam on amending and supplementing a number of Articles of the Circular No. 03/2015/TT-NHNN dated March 20, 2015 of the Governor of the State Bank of Vietnam guiding a number of Decree No. 26/2014/ND-CP dated April 07, 2014 of the Government on organization and activities of Banking Inspection and Supervisory

CIRCULAR

On amending and supplementing a number of Articles of the Circular No. 03/2015/TT-NHNN dated March 20, 2015 of the Governor of the State Bank of Vietnam guiding a number of Decree No. 26/2014/ND-CP dated April 07, 2014 of the Government on organization and activities of Banking Inspection and Supervisory

Pursuant to the Law on State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Investigation dated November 15, 2010;

Pursuant to the Decree No. 16/2017/ND-CP dated February 17, 2017 of the Government prescribing functions, tasks, rights and organizational structure of the State Bank of Vietnam;

Pursuant to the Decree No. 26/2014/ND-CP dated April 07, 2014 of the Government on organization and activities of Inspection and Supervision in banking and the Decree No. 43/2019/ND-CP dated May 17, 2019 of the Government on amending and supplementing a number of Articles of the Decree No. 26/2014/ND-CP dated April 07, 2014 of the Government on organization and activities of Banking Inspection and Supervisory;

At the request of the Banking Inspection and Supervision Chief,

The Governor of the State Bank of Vietnam issues the Circular  on amending and supplementing a number of Articles of the Circular No. 03/2015/TT-NHNN dated March 20, 2015 of the Governor of the State Bank of Vietnam guiding a number of Decree No. 26/2014/ND-CP dated April 07, 2014 of the Government on organization and activities of Banking Inspection and Supervisory (hereafter called Circular No. 03/2015/TT-NHNN).

Article 1. To amend, supplement a number of Articles of the Circular No. 03/2015/TT-NHNN

1. To amend and supplement Article 4 as follows:

“Article 4. To allocate the investigation responsibilities for subjects of banking investigation

1. The Banking Investigation and Supervisory agencies shall be responsible for the investigation of banking subjects in accordance with legal regulations as follows:

a) Agencies, organization and individuals under the management of the State Bank of Vietnam, except for subjects managed by the State Bank of Vietnam under the appointment of the SBV’s Governor;

b)  Commercial banks 100% charter capital hold by the State

c) Policy Banks;

dd) Co-Op Bank

d) Joint Venture Banks;

e) Full foreign-owned Banks;

g) Branches of foreign banks under the allocation of the Governor of the State Bank;

h) Joint Stock Commercial Banks;

i) Non-banking credit organizations;

k) Micro-financial organization;

l) Micro-financial programs and projects in accordance with the allocation of the Governor of State Bank;

m) Organization and activities of credit information;

n) Vietnam Asset Management Company;

o) Deposit Insurance of Vietnam

p) National Banknote Printing Plant

q) National Payment Corporation of Vietnam

r) Affiliated companies of credit institutions prescribed at Point b, d, dd, e, h, I of this Clause that these affiliated companies are not credit institutions but under the investigation of the State Bank of Vietnam, exempt for the subjects under the investigation responsibilities of Banking Inspection and Supervisory Branches.

s) Subject of investigation under Banking Inspection and Supervisory Branches in the case of re-investigation or if necessary under the direction of the Governor of State Bank;

t) Other subjects appointed by the Governor of State Bank.

2. Banking Inspection and Supervisory Branches shall have investigation responsibilities in accordance with legal regulations for the subjects as follows:

a) Agencies, organizations and individual under the management of branches of the State Bank;

b) Foreign bank’s branches having headquarters in provinces and central-run cities where branches of the State Bank are located (hereafter referred as provinces, cities), except for subjects prescribed at Point d, Clause 1 of this Articles;

c) Subjects under investigation subjects of the Banking Inspection and Supervisory prescribed at Clause 1 of this Article (except for subjects prescribed at Point p, q, Clause 1 of this Article), of Banking Inspection and Supervisory branches provided that their attached units have headquarters located in provinces and cities;

d) People’s Credit Funds having headquarters in provinces and cities;

dd) Micro-finance programs and projects in provinces and cities except for the subject prescribed at Point 1, Clause 1 of this Article;

e) Representative offices of foreign credit organizations and other foreign organization in banking activities having headquarters in provinces and cities;

g) Organization having foreign exchange and gold business activities; organizations supply payment intermediary service providers (not banking) having headquarters located in provinces and cities, except for regulations prescribed at Point q, Clause 1 of this Article;

h) Other agencies, organizations and individuals in provinces or cities having obligations to follow all legal regulations in industries under state management of the State Bank;

i) Subject of report under the responsibility of state management of the State Bank in provinces and cities according to the legal regulations on money laundering prevention beside the subjects prescribed at Points b, c, d, dd, e, g, h of this Clause;

k) Other subjects assigned by the Governor of the State Bank.

3. Inspection and supervision of the State Bank shall have inspection for the inspection subjects under the inspection responsibility of Banking Inspection and Supervisory of branches in accordance with direction of the Governor of State Bank”.