Circular No. 13/2019/TT-NHNN dated August 21, 2019 of the State Bank of Vietnam on amending and supplementing a number of Articles of the Circulars regarding the licensing, organization and operation of credit institutions and foreign bank branches

CIRCULAR

Amending and supplementing a number of articles of the Circulars regarding the licensing, organization and operation of credit institutions and foreign bank branches

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

Pursuant to the June 16, 2010 Law on Credit Institutions; and the November 20, 2017 Law Amending and Supplementing a Number of Articles of the Law on Credit Institutions;

Pursuant to the November 20, 2012 Law on Cooperatives;

Pursuant to the Government’s Decree No. 26/2014/ND-CP of April 7, 2014, on organization and operation of the banking supervision agencies;

Pursuant to the Government’s Decree No. 43/2019/ND-CP of May 17, 2019, amending and supplementing a number of articles of the Government’s Decree No. 26/2014/ND-CP of April 7, 2014, on organization and operation of the banking supervision agencies;

Pursuant to the Government’s Decree No. 16/2017/ND-CP of February 17, 2017, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

At the proposal of the Chief of the Banking Supervision Agency;

The Governor of the State Bank of Vietnam promulgates the Circular amending and supplementing a number of articles of the Circulars regarding the licensing, organization and operation of credit institutions and foreign bank branches.

Article 1. To amend and supplement a number of articles of the State Bank Governor’s Circular No. 03/2018/TT-NHNN of February 23, 2018, providing the licensing, organization and operation of microfinance institutions

1. To amend and supplement Clause 2, Article 36 as follows:

“2. To inspect, supervise, and handle violations committed by microfinance institutions in the implementation of this Circular and other relevant regulations.”

2. To amend and supplement Clause 1, Article 37 as follows:

“1. To inspect, supervise, and handle violations committed by attached units of microfinance institutions in localities in accordance with law.”

Article 2. To amend and supplement a number of articles of the State Bank Governor’s Circular No. 22/2018/TT-NHNN of September 5, 2018, guiding procedures and dossiers of request for approval of lists of candidates of commercial banks, non-bank credit institutions and foreign bank branches (below referred to as Circular No. 22/2018/TT-NHNN)

1. To amend and supplement Clause 3, Article 3 as follows:

“3. The credit institution’s or foreign bank branch’s dossier enclosed with a list of documents shall be sent by post or submitted directly to the State Bank or the State Bank’s branch in the province or centrally run city (below referred to as the State Bank’s provincial-level branch according to the competence specified in Article 4 of this Circular.”

2. To amend and supplement Article 4 as follows:

“Article 4. Competent to approve lists of candidates of credit institutions and foreign bank branches

1. The Governor of the State Bank shall consider and approve lists of candidates of credit institutions or foreign bank branches, except the case prescribed in Clause 2 of this Article.

2. Directors of the State Bank’s provincial-level branches shall consider and approve lists of candidates of foreign bank branches which are located in localities and subject to their branches’ micro-prudential inspection and supervision.”

3. To amend and supplement Point b, Clause 1, Article 6 as follows:

“b/ The list of candidates, stating their full names, current titles and working units; and their expected titles at the credit institution; name of the nominating individual or organization; holding rates of shares or capital contributions of which the candidates are expected to act as representatives under authorization by the nominating organization (if any);”