Friday, 14/06/2024
   

VNBA invites members to comment on the draft Circular on conditions and procedures for capital contribution and share purchase of credit institutions

The Vietnam Banks Association (VNBA) has just sent an official dispatch to the General Directors of member organizations inviting comments on the draft Circular amending and supplementing some articles of the Circular No. 51/2018/TT-NHNN regulating conditions, documents, order and procedures for approval of capital contribution and share purchasing of credit institutions.

According to the Official Dispatch No. 3969/NHNN-TTGSNH dated May 14, 2024 of the State Bank of Vietnam on comments on the Draft Circular amending and supplementing a number of articles of Circular No. 51/2018/TT-NHNN dated December 31, 2018 regulates conditions, documents, order and procedures for approval of capital contribution and share purchase of credit institutions.

The State Bank said that the Law on Credit Institutions 2024 has a number of changes compared to the provisions of the Law on Credit Institutions 2010 (amended and supplemented) such as regulations on capital contribution and share purchase of public companies. General financial companies and specialized financial companies instead of regulating capital contributions and share purchases of financial companies and financial leasing companies and supplementing regulations assigning the Governor of the State Bank to stipulate conditions for capital increase. at subsidiaries, affiliated companies of commercial banks, general financial companies, specialized financial companies (Article 111, Article 118 and Article 123).

In particular, when making capital contributions or increasing capital, in essence, credit institutions use charter capital and reserve funds to contribute and must ensure compliance with legal regulations on minimum capital adequacy ratio. capital contribution ratio, share purchase... before and after implementation. Therefore, it is necessary to add to the content of Circular 51 cases where credit institutions increase capital in subsidiaries and affiliated companies.

Therefore, the State Bank finds it necessary to research and issue a Circular amending and supplementing a number of articles of Circular 51 so that credit institutions have a basis for implementation after the Law on Credit Institutions 2024 takes effect. .

Accordingly, the draft Circular amending and supplementing a number of articles of Circular No. 51/2018/TT-NHNN is built with 04 Articles and 01 Appendix.

Specifically, Article 1, amending and supplementing a number of articles of Circular No. 51/2018/TT-NHNN; Article 2, supplementing, replacing, and abolishing a number of words, phrases, clauses, and articles of Circular No. 51/2018/TT-NHNN; Article 3, responsibility for implementation; Article 4, implementation provisions; The appendix attached to the draft Circular is a sample document requesting approval for capital contribution and share purchase.

VNBA requests its member credit institutions to provide comments on this Draft Circular.

Please send your members' written comment on the draft Circular (including word files) to VNBA at email address: lehoanghiep1511@gmail.com before May 17, 2024 (Phone: 0395.646. 500 - Mr. Hoang Hiep).

We look forward to receiving the attention and cooperation of our member credit institutions.

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