VietnameseDecision No. 488/2000/QD-NHNN5 of November 27, 2000, on the issuance of regulation on the assets classification and use of provisions to deal with risks in the banking activities of credit institutions
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Decision No. 488/2000/QD-NHNN5 of November 27, 2000, on the issuance of regulation on the assets classification and use of provisions to deal with risks in the banking activities of credit institutions
| 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: | 488/2000/QD-NHNN5 | Signer: | Tran Minh Tuan |
| Type: | Decision | Expiry date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Issuing date: | 27/11/2000 | 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 ------- | SOCIALIST REPUBLIC OF VIETNAM Independence-freedom-happiness --------- |
No. 488/2000/QD-NHNN5 | Hanoi, November 27th , 2000 |
DECISION
ON THE ISSUANCE OF REGULATION ON THE ASSETS CLASSIFICATION AND USE OF PROVISIONS TO DEAL WITH RISKS IN THE BANKING ACTIVITIES OF CREDIT INSTITUTIONS
THE GOVERNOR OF THE STATE BANK
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 and the Law on the Credit Institutions No. 02/1997/QH10 dated 12 December, 1997;
Pursuant to the Decree No. 15 CP dated 2 March, 1993 of the Government on the assignment, authority and responsibility for the State management of the ministries, ministerial-level agencies;
Upon the proposal of the Director of Banks and Non-bank credit institutions Department;
In agreement with Minister of Finance,
Pursuant to the Decree No. 15 CP dated 2 March, 1993 of the Government on the assignment, authority and responsibility for the State management of the ministries, ministerial-level agencies;
Upon the proposal of the Director of Banks and Non-bank credit institutions Department;
In agreement with Minister of Finance,
DECIDES
Article 1.
To issue in conjunction with this Decision the Regulation on the assets classification, the provisioning and use of provisions to deal with risks in the banking activities of Credit Institutions.
Article 2.
This Decision shall be effective from the date of signing. Provisions on the classification of assets, the provisioning and use of provisions to deal with risks in the banking activities of credit institutions stated in the following documents shall cease their effectiveness:
1. The Decision No. 48/1999/QD-NHNN5 dated 08 February, 1999 of the Governor of the State Bank issuing the Regulation on the assets classification, provisions for risks arising from the banking activities of credit institutions;
2. The Official Dispatch No. 582/CV-NHNN5 dated 23 June, 1999 of the Governor of the State Bank on the provisioning and use of provisions to deal with risks of credit institutions.
Article 3.
The Director of the Administration Department, the Director of the Banks and non-bank credit institutions Department, Heads of units in the State Bank, General Managers of State Bank branches in provinces, cities under the central Governments management, Chairman of the Board of Directors, General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.
FOR THE GOVERNOR OF THE STATE BANK DEPUTY GOVERNOR Tran Minh Tuan |
REGULATION
ON THE CLASSIFICATION OF ASSETS, THE PROVISIONING AND USE OF PROVISIONS TO DEAL WITH RISKS IN THE BANKING ACTIVITIES OF CREDIT INSTITUTIONS
(issued in conjunction with the Decision No.448/2000/NHNN5 dated 27 November, 2000 of the Governor of the State Bank)
(issued in conjunction with the Decision No.448/2000/NHNN5 dated 27 November, 2000 of the Governor of the State Bank)
Chapter 1
GENERAL PROVISIONS
Article 1.
1. Credit institutions operating in Vietnam shall be obliged to carry out the classification of assets, the provisioning and use of provisions to deal with risks in the banking activities of credit institutions.
2. The provisioning and use of provisions for falling prices of inventory, securities, and financial provision Fund shall be carried out in compliance with provisions in the Decree No. 166/1999/ND-CP dated 19 November, 1999 of the Government on the finance regime for credit institutions.
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