VietnameseDecree No. 82/1998/ND-CP dated October 03, 1998 of the Governmet on the issuance of the list of legal capital of credit institutions
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Decree No. 82/1998/ND-CP dated October 03, 1998 of the Governmet on the issuance of the list of legal capital of credit institutions
| Issuing body: | Government | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 82/1998/ND-CP | Signer: | Phan Van Khai |
| Type: | Decree | Expiry date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Issuing date: | 03/10/1998 | 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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THE GOVERNMENT ----------- | SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness -------------------------- |
No. 82/1998/ND-CP | Hanoi, October 03rd, 1998 |
DECREE
ON THE ISSUANCE OF THE LIST OF LEGAL CAPITAL OF CREDIT INSTITUTIONS
THE GOVERNMENT
- Pursuant to the Law on the Organization of the Government dated 30 September, 1992.
- Pursuant to the Law on the State Bank of Vietnam No.01/1997/QH10 dated 12 December, 1997, the Law on the Credit Institutions No. 02/1997/QH10 dated 12 December, 1997.
- Upon proposal of the Governor of the State Bank of Vietnam.
DECREES
Article 1.
To promulgate in conjunction with this Decree the List of legal capital for credit institutions.
Article 2.
1. Credit institutions which were granted licence of establishment and business operating licence before the effective date of this Decree and possess a charter capital lower than the respective amount of legal capital mentioned in the List of legal capital attached to this Decree, shall increase the chartered capital to at least the indicated level of legal capital within 3 years from the effective date of this Decree. The annual increase to the capital shall be at least 1/3 of the difference between the chartered capital and the required legal capital.
2. The State Bank of Vietnam shall revoke the operating licence from those credit institutions which can not increase their chartered capital to the level of the legal capital required.
Article 3.
The Governor of the State Bank shall recommend to the Prime Minister for consideration and decision on the change of the legal capital of credit institutions mentioned in the List promulgated in conjunction with this Decree if there is any change in the prudential conditions of the operations of credit institutions, the demand for financing in the economy and the financial position of the State and credit institutions in the process of the implementation of this Decree.
Article 4.
This Decree shall be effective after 15 days from the date of signing and all other previous legal documents not in consistence with this Decree shall be repealed.
Article 5.
Ministers, head of ministerial-level agencies, head of agencies of the Government, Chairmen of People Committees in provinces and cities under the central Government's management shall be responsible for the implementation of this Decree.
ON BEHALF OF THE GOVERNMENT PRIME MINISTER Phan Van Khai |
LIST OF LEGAL CAPITALS OF CREDIT INSTITUTION
(issued in conjunction with the Decree No. 82/1998/ND-CP dated October 3, 1998 of the Government)
(issued in conjunction with the Decree No. 82/1998/ND-CP dated October 3, 1998 of the Government)
Item | Banks | Legal capital | Units |
I | Banks | ||
1. | Commercial banks | ||
a) | State-owned commercial bank | ||
- Vietnam Bank for Agriculture and Rural Development | 2.200 | VND billion | |
- Other state-owned commercial bank | 1.100 | VND billion | |
b) | Commercial joint-stock banks | ||
- Urban commercial joint-stock banks | |||
+ In Hanoi and Ho Chi Minh City | 70 | VND billion | |
+ In other Cities | 50 | VND billion | |
- Rural commercial joint-stock bank | 5 | VND billion | |
2. | Development banks | 1.000 | VND billion |
3. | Investment banks | 500 | VND billion |
4. | Political banks | 500 | VND billion |
5. | Cooperative Banks | ||
a) | Urban cooperative banks | 5 | VND billion |
b) | Rural cooperative bank | 3 | VND billion |
6. | Peoples credit funds | ||
a) | Local peoples credit funds | 0.1 | VND billion |
b) | Regional peoples credit funds | 1 | VND billion |
c) | Center peoples credit funds | 100 | VND billion |
7. | Credit cooperatives | 0,1 | VND billion |
8. | Joint-venture banks | 10.000.000 | USD |
9. | Foreign bank branches | 15.000.000 | USD |
II- | Non-bank credit institution | ||
1. | Vietnamese non-bank credit institution | 50 | VND billion |
2. | JV non-bank credit institution | 5.000.000 | USD |
3. | 100% foreign owned non bank credit institution | 5.000.000 | USD |
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