Decree No. 141/2006/NĐ-CP stipulates the minimum charter capital requirements for credit institutions and the State Bank of Vietnam's responsibility in supervision and handling violations. The minimum charter capital requirement applies to credit institutions established and operating in Vietnam.
Scope of application
Credit institutions established and operating in Vietnam
Key points
- Credit institutions must have actual contributed charter capital or authorized minimum capital equivalent to the minimum charter capital requirement on December 31, 2008, and December 31, 2010.
- The Governor of the State Bank of Vietnam decides on measures, including revoking the License for establishment and operation, for credit institutions with capital below the minimum charter capital requirement.
- This Decree replaces Decree No. 82/1998/NĐ-CP on issuing the List of minimum charter capital requirements for credit institutions.
- The Governor of the State Bank of Vietnam, Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairpersons of provincial People's Committees under central city administrations are responsible for implementing this Decree.
- The minimum charter capital requirement applicable to each type of credit institution and each period is specified in the List issued together with this Decree.
🌐 Social impact of this document
- Positive impact: Ensuring safety and stability of the banking system.
- Negative impact: It may impose financial pressure on credit institutions during the process of increasing the minimum charter capital.
❓ Frequently asked questions
When must credit institutions have their minimum actual contributed charter capital?
Credit institutions must have actual contributed charter capital or authorized minimum capital equivalent to the minimum charter capital requirement on December 31, 2008, and December 31, 2010.
What consequences will there be if a credit institution does not meet the minimum charter capital requirement?
The Governor of the State Bank of Vietnam has the authority to decide on measures, including revoking the License for establishment and operation, for credit institutions with capital below the minimum charter capital requirement.
Which decree does this Decree replace?
This Decree replaces Decree No. 82/1998/NĐ-CP on issuing the List of minimum charter capital requirements for credit institutions.
Who is responsible for implementing this Decree?
The Governor of the State Bank of Vietnam, Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairpersons of provincial People's Committees under central city administrations.
How is the minimum charter capital requirement applied to each type of credit institution?
The minimum charter capital requirement applicable to each type of credit institution and each period is specified in the List issued together with this Decree.
Full text
DECREE
On issuing the List of minimum charter capital requirements for credit institutions
______________________
THE GOVERNMENT
Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to the Law on the State Bank of Vietnam dated December 12, 1997, and the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam dated June 17, 2003;
Pursuant to the Law on Credit Institutions dated December 12, 1997, and the Law Amending and Supplementing Certain Provisions of the Law on Credit Institutions dated June 15, 2004;
Considering the proposal of the Governor of the State Bank of Vietnam.
DECREE
Article 1. Minimum Charter Capital Requirements
The List of minimum charter capital requirements for credit institutions established and operating in Vietnam is hereby promulgated together with this Decree.
Article 2. Implementation
2. Credit institutions granted licenses for establishment and operation after the date this Decree takes effect and before December 31, 2008, must immediately ensure that their subscribed and paid-in registered capital or equivalent capital is not less than the minimum charter capital requirement specified for the year 2008 in the List issued together herewith.
3. Credit institutions granted licenses for establishment and operation after December 31, 2008, must immediately ensure that their subscribed and paid-in registered capital or equivalent capital is not less than the minimum charter capital requirement specified for the year 2010 in the List issued together herewith.
The Governor of the State Bank shall decide on measures, including revocation of the license for establishment and operation, against credit institutions whose subscribed and paid-in registered capital or equivalent capital is lower than the minimum charter capital requirement corresponding to each type of credit institution specified for each period in the List issued together herewith.
Article 4. Effective date
This Decree shall take effect 15 days from the date of publication in the Official Gazette and shall replace Decree No. 82/1998/NĐ-CP dated October 3, 1998 of the Government on issuing the List of minimum charter capital requirements for credit institutions.
Article 5. Responsibilities for Implementation
The Governor of the State Bank of Vietnam, Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairpersons of provincial and municipal People's Committees directly under the central government are responsible for implementing this Decree./.
PRIME MINISTER
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