Circular No. 07/2025/TT-NHNN amending and supplementing certain articles of Circular No. 39/2024/TT-NHNN dated July 1, 2024, issued by the Governor of the State Bank of Vietnam on special supervision of credit institutions.

CIRCULAR
Amending and supplementing certain Articles of Circular No. 39/2024/TT-NHNN dated July 1, 2024 issued by the Governor of the State Bank of Vietnamqetermining for on special supervision of credit institutions

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law Credit institutions on January 18, 2024;

Pursuant to Decree No. 26/2025/NĐ-CP dated February 24, 2025 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

the Director the proposal of the Director of the Credit Institution System Safety Department;

The Governor of the State Bank of Vietnam promulgates this Circular amending and supplementing certain Articles of Circular No. 39/2024/TT-NHNN dated July 1, 2024 issued by the Governor of the State Bank of Vietnam regarding special supervision of credit institutions.

Article 1. Amending and supplementing certain Articles of Circular No. 39/2024/TT-NHNN dated July 1, 2024 issued by the Governor of the State Bank of Vietnam regarding special supervision of credit institutions

1. Amend and supplement Article 1 as follows:

"Article 1. Scope of Regulation

This Circular stipulates on: authority to decide on special supervision of credit institutions; forms of special supervision; Decision on special supervision; notification and publication of information on special supervision; duration of special supervision, extension of the duration of special supervision, termination of special supervision; reduction of charter capital of commercial banks subject to special supervision approved by the State Bank of Vietnam for mandatory transfer; composition, number of members, structure, mechanism of operation, tasks, and powers of the Special Supervisory Board; responsibilities of agencies, organizations, and individuals related thereto."

2. Supplementing Article 7a following Article 7 as follows:

"Article 7a. Reduction of charter capital of commercial banks subject to special supervision approved by the State Bank of Vietnam for mandatory transfer

1. Within ten days from the date the State Bank of Vietnam approves the mandatory transfer plan pursuant to Clause 4, Article 179 or Clause 4, Article 180 of the Law on Credit Institutions, the commercial bank subject to special supervision must complete the determination and submit to the Special Supervisory Board the consolidated business results for the accounting period from the date of the most recent audited financial report to the last day of the month immediately preceding the date the State Bank of Vietnam approves the mandatory transfer plan according to Vietnamese Accounting Standards, Accounting Regulations, and relevant laws.

2. Within twenty days from the date the State Bank of Vietnam approves the mandatory transfer plan pursuant to Clause 4, Article 179 or Clause 4, Article 180 of the Law on Credit Institutions, the Special Supervisory Board completes the determination and reports to the State Bank of Vietnam (through the Credit Institution Management and Supervision Department) the consolidated business results of the commercial bank subject to special supervision for the accounting period specified in Clause 1 of this Article (including cases where the commercial bank subject to special supervision fails to complete the determination of consolidated business results as prescribed in Clause 1 of this Article) and requests the State Bank of Vietnam (through the Credit Institution Management and Supervision Department) to decide on reducing the entire charter capital of the commercial bank subject to mandatory transfer to reduce accumulated losses corresponding to the provisions of Clause 2, Article 183 of the Law on Credit Institutions if the commercial bank subject to special supervision has accumulated losses greater than 100% of the value of its charter capital and reserve funds recorded in the most recent audited financial report and according to the consolidated business results of the commercial bank subject to special supervision determined by the Special Supervisory Board as prescribed in this clause.

3. Based on the most recent audited financial report and the report and request of the Special Supervisory Board as prescribed in Clause 2 of this Article, the State Bank of Vietnam decides to reduce the entire charter capital of the commercial bank subject to mandatory transfer to reduce accumulated losses at the Mandatory Transfer Decision in accordance with Clause 2 and Clause 3, Article 183 of the Law on Credit Institutions. This amount replaces the charter capital in the License for Establishment and Operation issued by the State Bank of Vietnam to the commercial bank subject to special supervision."

3. Amending and supplementing Point b and Point d Clause 3 Article 10 as follows:

a) Amend and supplement Point b as follows:

"b) Heads of Departments or equivalent positions or higher of the Credit Institution Management and Supervision Department; Inspectors of the State Bank of Vietnam;"

b) Amend and supplement Point d as follows:

"d) Heads of Departments or equivalent positions or higher of the Management and Supervision Department; Inspectors of the State Bank of Vietnam branch where the credit institution subject to special supervision is headquartered."

4. Amending and supplementing Point b Clause 4 Article 10 as follows:

"b) Heads of Departments or equivalent positions or higher of the Management and Supervision Department; Inspectors of the State Bank of Vietnam branch where the credit institution subject to special supervision is headquartered."

Article 2. Supplementing, replacing, and abolishing certain phrases in Circular No. 39/2024/TT-NHNN dated July 1, 2024, issued by the Governor of the State Bank of Vietnam on special supervision of credit institutions.

1. Supplement the phrase "DECREASED REGULATORY CAPITAL" at the end of Chapter II.

2. Replace the phrase "State Bank branch at provincial level under the central government" with the phrase "State Bank Regional Branch" in Clause 2 of Article 3.

3. Replace the phrase "Bank Inspection and Supervision Authority" with the phrase "Credit Institution Management and Supervision Department" in Clause 3 of Article 3; Point a, b of Clause 4 of Article 4; Clause 1 of Article 8; Clause 1 of Article 9; Point d, i, k of Clause 1 and Clause 2 of Article 11; Clause 7 of Article 12; the name of Article 14; Point b, d of Clause 1 of Article 16; Clause 6 of Article 17; Clause 2 of Article 18.

4. Remove the phrase "at district level," from Point d of Clause 3 of Article 6.

5. Remove the phrase "Director of Office, Director of Inspection and Supervision," from Article 22.

This Circular takes effect from December 25, 2025/.

Heads of units under the State Bank of Vietnam, Vietnam Deposit Insurance Corporation, Vietnam Rural Credit Bank, credit institutions subject to special supervision, and Special Supervisory Board of credit institutions subject to special supervision shall be responsible for organizing the implementation of this Circular.

Article 4. Implementation provisions

This Circular takes effect from June 6, 2025./.