According to Official Dispatch No. 8741/NHNN-CSTT dated October 23, 2024 of the State Bank of Vietnam on comments on the draft Circular on the issuance of domestic deposit certificates by credit institutions.
The State Bank said that the Law on Credit Institutions issued on January 18, 2024 will take effect from July 1, 2024 (Law on Credit Institutions 2024).
Accordingly, there are a number of contents amending the regulations related to the issuance of promissory notes, bills of credit, deposit certificates, and bonds by credit institutions. Therefore, to comply with the Law on Credit Institutions 2024, the State Bank has drafted a Circular regulating the issuance of domestic deposit certificates by credit institutions.
The draft Circular regulating the issuance of domestic deposit certificates by credit institutions has 18 articles, including: Article 1. Scope of regulation; Article 2. Subjects of application; Article 3. Interpretation of terms; Article 4. Currency of issuance and payment; Article 5. Interest rate; Article 6. Term, date of issuance and maturity date of deposit certificate; Article 6. Term, date of issuance and maturity date of deposit certificate; Article 7. Face value of deposit certificate; Article 8. Issuance method; Article 9. Contents of deposit certificate;
Article 10. Use of deposit certificate as collateral; Article 11. Transfer of ownership of deposit certificate and handling of other risks; Article 12. Measures for information lookup and measures for notification when there is a change in information of deposit certificate; Article 13. Payment of deposit certificate; Article 14. Procedure for issuance and payment of deposit certificate; Article 15. Issuance and payment of deposit certificate by electronic means; Article 16. Internal regulations; Article 17. Implementation provisions; Article 18. Implementation organization;
For details of the draft Circular 3, members can see here. VNBA requests member credit institutions to provide comments on this draft.
Please send your comments (including word files) to the Vietnam Banking Association via email: minhthu300999@gmail.com before October 30, 2024 for synthesis (Phone: 0339.120.916 - Ms. Minh Thu).
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