VietnameseCircular No. 16/2009/TT-NHNN dated August 11, 2009 of the State Bank on amendment, supplement of several articles of the Regulation on domestic issuance of valuable papers by credit institutions, issued in conjunction with the Decision No. 07/2008/QD-NHNN dated 24 March 2008 of the Governor of the State Bank
ATTRIBUTE
Circular No. 16/2009/TT-NHNN dated August 11, 2009 of the State Bank on amendment, supplement of several articles of the Regulation on domestic issuance of valuable papers by credit institutions, issued in conjunction with the Decision No. 07/2008/QD-NHNN dated 24 March 2008 of the Governor of the State Bank
| Issuing body: | State Bank of Vietnam | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 16/2009/TT-NHNN | Signer: | Nguyen Dong Tien |
| Type: | Circular | Expiry date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Issuing date: | 11/08/2009 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Finance - Banking |
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STATE BANK OF VIETNAM ----------------- No. 16/2009/TT-NHNN | SOCIALIST REPUBLIC OF VIETNAM Independence – Freedom – Happiness ------------------ Hanoi, August 11, 2009 |
CIRCULAR
ON AMENDMENT, SUPPLEMENT OF SEVERAL ARTICLES OF THE REGULATION ON DOMESTIC ISSUANCE OF VALUABLE PAPERS BY CREDIT INSTITUTIONS, ISSUED IN CONJUNCTION WITH THE DECISION NO. 07/2008/QD-NHNN DATED 24 MARCH 2008 OF THE GOVERNOR OF THE STATE BANK
OF THE GOVERNOR OF THE STATE BANK
- Pursuant to the Law on the State Bank of Vietnam issued in 1997 and the Law on the amendment, supplement of several articles of the Law on the State Bank of Vietnam issued in 2003;
- Pursuant to the Law on Credit Institutions issued in 1997, the Law on the amendment, and supplement of several articles of the Law on Credit Institutions issued in 2004;
- Pursuant to the Law on Enterprises issued in 2005;
- Pursuant to the Law on Securities issued in 2006;
- Pursuant to the Ordinance on Foreign Exchange issued in 2005;
- Pursuant to the Decree No. 52/2006/ND-CP dated 19/5/2006 of the Government on the issuance of corporate bonds;
- Pursuant to the Decree No. 96/2008/ND-CP dated 26/8/2008 of the Government providing for the functions, assignments, authorities and organizational structure of the State Bank of Vietnam;
The State Bank of Vietnam amends, supplements several articles of the Regulation on domestic issuance of valuable papers by credit institutions, issued in conjunction with the Decision No. 07/2008/QD-NHNN dated 24 March 2008 of the Governor of the State Bank as follows:
Article 1. Articles 22, 28, 29, 30, 40, 41 and 42 shall be amended, supplemented as follows:
1. Paragraph 3, Article 22 shall be amended, supplemented as follows:
“3. Business result of the year preceding the issuing year and as of the latest time must be profitable”.
2. Paragraph 3 and 5, Article 28 shall be amended, supplemented as follows:
“3. Business result of the year preceding the issuing year and as of the latest time must be profitable; ratio of bad debt over total outstanding loans of the year preceding the issuing year and as of the latest time must be less than 5%”
“5. To be approved by the Governor of the State Bank for the issuance of convertible bonds, warrant-linked bonds of the fiscal year of credit institution. If there is any change in plan of charter capital increase from the source for issuance of convertible bonds, warrant linked bonds which has been approved by Shareholders’ General Meeting, the credit institution must make report to the State Bank (Banking Inspectorate, Supervisory Agency) for the consideration and acceptance by the Governor.”
3. Paragraph 2, Article 29 shall be amended, supplemented as follows:
“2. The plan of charter capital increase from the source for issuance of convertible bonds, warrant-linked bonds of the fiscal year which is adopted by the Shareholders’ General Meeting, clearly states contents in accordance with current provisions of the State Bank on application for approval to the change in charter capital of credit institutions.”
4. Paragraph 2, Article 30 shall be amended, supplemented as follows:
“2. Time limit for considering and making decision on the issuance of convertible bonds, warrant-linked bonds of credit institution shall not exceed 45 working days since the full receipt of the application file from the credit institution.”
5. Paragraph 1, Article 40 shall be amended, supplemented as follows:
“1. To submit the application file for the issuance of long-term valuable papers; Application file for the issuance of convertible bonds, warrant-linked bonds; Notice of issuance of valuable papers by each issue to the State Bank (Department of Monetary Policy); If there is any change in plan of charter capital increase from the source for issuance of convertible bonds, warrant-linked bonds which has been approved by the Shareholders’ General Meeting, credit institutions must make report to the State Bank (Banking Inspectorate, Supervisory Agency) for the consideration and acceptance by the Governor of the State Bank.”
6. Article 41 shall be amended, supplemented as follows:
“To provide specific opinion about the application for the issuance of convertible bonds, warrant-linked bonds of the credit institutions whose head office is located in the local area.”
7. Point b, Paragraph 1, Article 42 shall be amended, supplemented as follows:
“b. To send documents about the plan of charter capital increase from the source for issuance of convertible bonds, warrant-linked bonds of credit institutions to Banking Inspectorate and Supervisory Agency for consideration and submission to the Governor of the State Bank for approval or disapproval to the increase of charter capital from the source for issuance of convertible bonds, warrant-linked bonds of credit institutions.
To preside, coordinate with related units to consider the application for the issuance of long-term valuable papers, application for the issuance of convertible bonds, warrant-linked bonds for submission to the Governor of the State Bank for approval or disapproval to the application of the credit institutions.”
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