Circular No. 15/2018/TT-NHNN amending and supplementing certain articles of Circular No. 22/2016/TT-NHNN dated June 30, 2016 issued by the Governor of the State Bank of Vietnam on the organization of credit institutions and foreign bank branches purchasing corporate bonds.

CIRCULAR

Amending and supplementing certain provisions of Circular No. 22/2016/TT-NHNN

dated June 30, 2016 issued by the Governor of the State Bank of Vietnam

regarding the purchase of corporate bonds by credit institutions and foreign bank branches

thực hiện việc mua trái phiếu doanh nghiệp của nước ngoài

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

Pursuant to the Law on Credit Institutions dated June 16, 2010;

Pursuant to the Law Amending and Supplementing Certain Provisions of the Law on Credit Institutions dated November 20, 2017;

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;

Article 1.

1. Clause 1 of Article 3 shall be amended and supplemented as follows: Amending and supplementing certain provisions of Circular No. 22/2016/TT-NHNN dated June 30, 2016 issued by the Governor of the State Bank of Vietnam regarding the purchase of corporate bonds by credit institutions and foreign bank branches (hereinafter referred to as Circular No. 22/2016/TT-NHNN).

Article 1. Amending and supplementing certain provisions of Circular No. 22/2016/TT-NHNN

1. Amending Point d and adding Point đ Clause 2 Article 3 as follows:

"d) Internal control regulations for the activity of purchasing corporate bonds, especially those issued with the purpose of implementing programs and projects in sectors identified as having potential risks according to the assessment of credit institutions and foreign bank branches, aimed at identifying risks, violations of laws, and ensuring the recovery of principal and interest on corporate bonds;

đ) Specific regulations on sectors with potential risks and credit and investment policies in these sectors."

2. Adding Clause 6 Article 3 as follows:

"6. Credit institutions and foreign bank branches shall not purchase corporate bonds issued for the purpose of restructuring corporate debts."

Article 2. Repealing Article 4 of Circular No. 22/2016/TT-NHNN.

This Circular takes effect from December 25, 2025/.

The Director of the Office, Heads of the Monetary Policy Department and 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 Directors (Directors) of credit institutions and foreign bank branches are responsible for implementing this Circular.

Article 4. Effective date

1. This Circular takes effect from August 2, 2018.

2. For contracts for the purchase of corporate bonds signed before the date this Circular takes effect, credit institutions and foreign bank branches and customers continue to implement the contents of the signed purchase contracts for corporate bonds or agree to amend and supplement the purchase contracts for corporate bonds in accordance with the provisions of this Circular./.