This Circular amends and supplements certain provisions of Circular No. 03/2016/TT-NHNN on foreign exchange management for foreign borrowing and repayment by enterprises not guaranteed by the Government. In particular, it provides more detailed regulations on registration files and reporting systems for foreign loans under the form of international bond issuance.
적용 범위
Enterprises not guaranteed by the Government and commercial banks holding over 50% of state capital
핵심 사항
- Enterprises not guaranteed by the Government must register, change, and report foreign loans under the form of international bond issuance according to specific regulations of the State Bank of Vietnam (Article 1).
- Commercial banks holding over 50% of state capital are exempt from submitting registration files, changes, and reports for previously approved foreign loans (Point c Clause 3 Article 14).
- State-owned enterprises when borrowing abroad need to submit copies of authorized approval documents for borrowing, except in cases where commercial banks hold 100% state capital (Clause 6 Article 14).
- Commercial banks holding over 50% of state capital are added to the Banking Group in the guidance for preparing reports (Point 5 Appendix 4A and Appendix 4B).
- This Circular abolishes Circular No. 18/2011/TT-NHNN on foreign exchange management for medium and long-term foreign borrowing by state-owned commercial banks.
🌐 이 문서의 사회적 영향
- To enhance management and supervision of foreign borrowing and repayment activities by enterprises.
- Commercial banks holding over 50% of state capital can have reduced administrative procedures when borrowing abroad.
- Foreign partners may feel more assured about transparency and compliance with laws in Vietnamese enterprises' borrowing and repayment activities.
❓ 자주 묻는 질문
How should enterprises not guaranteed by the Government register when issuing international bonds?
They must register according to specific regulations of the State Bank of Vietnam (Article 1).
Do commercial banks holding over 50% of state capital need to submit files when borrowing abroad?
No need to submit files if the loan has been previously approved (Point c Clause 3 Article 14).
What does a state-owned enterprise need to submit when registering for borrowing abroad?
Submit copies of authorized approval documents for borrowing, except in cases where commercial banks hold 100% state capital (Clause 6 Article 14).
What provision does this Circular abolish?
Abolishes Circular No. 18/2011/TT-NHNN on foreign exchange management for medium and long-term foreign borrowing by state-owned commercial banks.
To which group are commercial banks holding over 50% of state capital added?
Added to the Banking Group in the guidance for preparing reports (Point 5 Appendix 4A and Appendix 4B).
전문
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STATE BANK OF VIETNAM VIETNAM Number: 05/2017/TT-NHNN |
SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness Hanoi, June 30, 2017 |
CIRCULAR
Amending and supplementing certain provisions of Circular No. 03/2016/TT-NHNN dated February 26, 2016 of the Governor of the State Bank of Vietnam guiding certain contents on foreign exchange management for foreign borrowing and repayment of enterprises The Governor of the State Bank of Vietnam promulgates this Circular amending and supplementing certain provisions of Circular No. 03/2016/TT-NHNN dated February 26, 2016 of the Governor of the State Bank of Vietnam guiding certain contents on foreign exchange management for foreign borrowing and repayment of enterprises (hereinafter referred to as Circular No. 03/2016/TT-NHNN). foreign of enterprise
Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;
Pursuant to the Law on Credit Organizations dated June 16, 2010;
Pursuant to the Law on Management and Use of State Capital for Investment in Business Operations dated November 26, 2014;
Pursuant to the Foreign Exchange Decree dated December 13, 2005 and the Decree Amending and Supplementing Certain Articles of the Foreign Exchange Decree dated March 18, 2013;
Pursuant to the Government's Decree No. 219/2013/NĐ-CP dated December 26, 2013 on foreign borrowing and repayment management for enterprises not guaranteed by the Government;
Pursuant to Government Decree No. 16/2017/NĐ-CP dated February 17, 2017 on the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
At the proposal of the Director of the Department of Foreign Exchange Management;
Circular No. 03/2016/TT-NHNN:
Circular No. 03/2023/TT-BCA “2. Registration, registration changes, and reporting requirements for foreign loans under the form of international bond issuance by enterprises not guaranteed by the Government shall be implemented according to specific regulations of the State Bank of Vietnam (hereinafter referred to as the State Bank).”
1. Clause 2 of Article 1 is amended and supplemented as follows:
2. Supplement Point c to Clause 3 of Article 14 as follows:
“c) The components of the dossier prescribed at Points a and b of this Clause do not apply to cases where foreign loans of commercial banks held over 50% of charter capital by the State have been reported and approved or given consent by the State’s representative body before voting at the Shareholders' Meeting, Board of Directors, or Board of Members.”
3. Clause 6 of Article 14 is amended and supplemented as follows:
“6. A copy (with confirmation from the Borrower) of the document of the competent authority approving the foreign borrowing in accordance with the laws on the delegation and decentralization of the rights, responsibilities, and obligations of state owners towards state-owned enterprises and state investment capital in enterprises for the Borrower being a state-owned enterprise, except when the Borrower is a commercial bank held 100% of charter capital by the State.”
4. Supplement the type of Borrower being a commercial bank held over 50% of charter capital by the State (code type SOB) into the Group of Banks at Point 5 of the Guidelines for preparing reports in Appendix 4A and Appendix 4B issued together with Circular No. 03/2016/TT-NHNN.
The Director of the Office, Heads of Departments under the State Bank of Vietnam, Heads of Branches of the State Bank of Vietnam in provinces and centrally governed cities, Chairmen of the Boards of Directors, Chairmen of the Boards of Members, General Directors (Directors) of commercial banks held over 50% of charter capital by the State are responsible for organizing the implementation of this Circular.
Article 2. Responsibility for Implementation
1. This Circular takes effect from August 15, 2017.
Article 3. Implementation Provisions
a) Circular No. 18/2011/TT-NHNN dated August 23, 2011 of the Governor of the State Bank of Vietnam guiding foreign exchange management for medium and long-term foreign borrowing of state-owned commercial banks.
2. This Circular abolishes:
b) The phrase “(except state-owned commercial banks)” and the phrase “and Clause 3” in Clause 1 of Article 1; Clause 3 of Article 1 of Circular No. 12/2014/TT-NHNN dated March 31, 2014 of the Governor of the State Bank of Vietnam stipulating conditions for foreign borrowing of enterprises not guaranteed by the Government./.
b) The phrase “(except for state-owned commercial banks)” and the phrase “and Clause 3” in Clause 1, Article 1; Clause 3, Article 1 of Circular No. 12/2014/TT-NHNN dated March 31, 2014 issued by the Governor of the State Bank of Vietnam on the conditions for enterprises to borrow foreign loans not guaranteed by the Government./.
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Place of Receipt: - As Article 2; - SBV Leadership; - Government Office; - Ministry of Justice; - Official Gazette; - File: Office, FXM, PC. |
CERTIFIED BY THE GOVERNOR DEPUTY DIRECTOR (Signed)
Nguyen Thi Hong |
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