Circular No. 21/2016/TT-NHNN amending and supplementing certain Articles of Circular No. 04/2013/TT-NHNN dated March 1, 2013, issued by the Governor of the State Bank of Vietnam on the discounting activities of transferable instruments and other securities of credit institutions and foreign bank branches for customers.

CIRCULAR

Amending and supplementing some articles of Circular No.

Decision No. 04/2013/TT-NHNN dated March 1, 2013 of

The Governor of the State Bank of Vietnam on the activities of discounting negotiable instruments and other securities

of credit institutions and foreign bank branches for customers

Pursuant to the Law on Credit Institutions No. 47/2010/QH12 dated June 16, 2010;

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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 on Negotiable Instruments No. 49/2005/QH11 dated November 29, 2005;

The Governor of the State Bank of Vietnam issues this Circular amending and supplementing certain provisions of Circular No. 04/2013/TT-NHNN dated March 1, 2013 of the Governor of the State Bank of Vietnam on the activities of discounting negotiable instruments and other securities of credit institutions and foreign bank branches for customers (Circular No. 04/2013/TT-NHNN).

Pursuant to Decree No. 156/2013/NĐ-CP dated November 11, 2013, of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

Article 1.

Article 1. Amending and supplementing certain provisions of Circular No. 04/2013/TT-NHNN

"1. Commercial banks, finance companies, financial leasing companies, cooperative banks, and foreign bank branches may carry out the activity of discounting negotiable instruments and other securities according to the License for Establishment and Operation issued by the State Bank of Vietnam."

1. Amend and supplement Clause 1 of Article 2 as follows:

2. Supplement Clause 9 to Article 5 as follows:

"9. Credit institutions and foreign bank branches must issue internal regulations to implement the activities of discounting negotiable instruments and other securities in accordance with this Circular, the Law on Credit Institutions, and relevant laws."

Repeal Clause 2 of Article 2 and Article 4 of Circular No. 04/2013/TT-NHNN.

Article 2. This Circular takes effect from July 1, 2016.

Article 3. Implementation Provisions

The Director of the Office, Heads of Departments under the State Bank of Vietnam, Governors of the State Bank of Vietnam Branches in provinces and centrally administered cities, Chairmen of the Board of Directors, Chairmen of the Board of Members, General Directors (Directors) of credit institutions and foreign bank branches are responsible for organizing the implementation of this Circular./.

Article 4. Organization of Implementation

- To be filed: Office, Policy Department, Monetary Policy Department (5).