Circular No. 12/2013/TT-NHNN amending certain provisions of Circular No. 02/2013/TT-NHNN dated January 21, 2013, issued by the Governor of the State Bank of Vietnam on the classification of assets, the level of provision for credit risk, the method of establishing provisions for credit risk, and the use of provisions to address risks in the operations of credit institutions and foreign bank branches.

CIRCULAR

Provincial People's Committees set specific pricesto amend certain articles of TCircular No. 02/2013/TT-NHNN dated January 21, 2013 of the State Bank of VietnamTGovernor N |||the cooperative N |||at enterprises Vstrict N |||on classification of assets, provisioning levels, methods for establishing provisions for risks, and the use of provisions to address risks in the operations of organizations credit institutions, foreign bank branches

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Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

Pursuant to the Law Ccredit institutions under Resolution No. 47/2010/QH12 dated June 16, 2010 2010;

Pursuant to Decree No. 96/2008/NĐ-CP dated May 26, 2008 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

||| The undersigned kindly requests Customs Administration to temporarily suspend Customs procedure for the shipment (regarding the Announcement Number... dated... issued by the Customs Administration).° the proposal of the Inspector General and Banking Supervision;

The Governor of the State Bank of Vietnam hereby promulgates this Circular to amend certain articles of Circular No. 02/2013/TT-NHNN dated January 21, 2013 on the classification of assets, provisioning levels, methods for establishing provisions for risks, and the use of provisions to address risks in the banking activities of credit institutions and foreign bank branches (hereinafter referred to as Circular No. 02/2013/TT-NHNN),

Article 1. Clause 1 of Article 25 of Circular No. 02/2013/TT-NHNN shall be amended as follows:

"1. This Circular shall take effect from June 1, 2014."

Article 2. Responsibility for Implementation

The Heads of the Office, the Inspector General and Banking Supervision, Heads of units under the State Bank of Vietnam, Governors of the State Bank of Vietnam Branches in provinces and centrally governed cities, Chairmen of the Board of Directors, Chairmen of the Board of Members, and General Managers (Directors) of credit institutions and foreign bank branches are responsible for implementing this Circular.

Article 3. Implementation Provisions

This Circular shall take effect from June 1, 2013./.