According to Official Dispatch No. 4510/NHNN-ATHT dated June 5, 2025 of the State Bank of Vietnam on soliciting opinions on the draft Circular amending and supplementing a number of articles of Circular 63 dated December 31, 2024 regulating the dossiers and procedures for revoking Licenses and liquidating assets of credit institutions and foreign bank branches; dossiers and procedures for revoking Licenses of representative offices in Vietnam of foreign credit institutions and other foreign organizations with banking activities.
The State Bank of Vietnam said that Circular 63 regulating the dossiers and procedures for revoking Licenses and liquidating assets of credit institutions and foreign bank branches; dossiers and procedures for revoking Licenses of representative offices in Vietnam of foreign credit institutions and other foreign organizations with banking activities currently has a number of contents related to the functions and tasks of State Bank branches. Meanwhile, these units are subject to restructuring according to Resolution No. 190/2025/QH15 of the National Assembly.
On that basis, in order to ensure consistency and synchronization in the legal system and to be consistent with the new organizational structure, the State Bank believes that it is necessary to issue a Circular amending and supplementing a number of articles of Circular 63.
Specifically, the State Bank has drafted a revised Circular with 4 articles, including: Article 1, amending and supplementing a number of articles of Circular 63 on the dossier and procedures for revoking the License and liquidating assets of credit institutions and foreign bank branches; as well as the dossier and procedures for revoking the License of representative offices of foreign credit institutions and other foreign organizations with banking activities in Vietnam; Article 2, replacing a number of phrases in Circular 63 to be consistent with the new organizational structure and relevant legal provisions; Article 3, regulations on implementation and Article 4, regulations on enforcement.
The amendment of Circular 63 is a necessary step to ensure consistency in the implementation of administrative procedures related to credit institutions, foreign bank branches and foreign bank representative offices in the context of the SBV's organizational structure being streamlined and rearranged towards a more modern and effective direction.
The Vietnam Banks Association requests member credit institutions to provide comments on this draft Circular.
Please send your comments (including word files) to the Vietnam Banks Association at the email address: thuptm.vnba@gmail.com before June 14, 2025 for synthesis (Contact phone number: 0339120916 - Ms. Minh Thu).
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