Circular No. 24/2018/TT-NHNN Amending, supplementing, and abolishing certain provisions of circulars and documents concerning periodic reporting regimes

CIRCULAR

Amending, supplementing, and abolishing certain provisions of Circulars and consolidated documents regulating periodic reporting systems

      pursuant to Decree No. 16/2017/ND-CP dated February 17, 2017 of the Government on the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

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

BASED ON THE DECREE NUMBER 05/2022/ND-CP dated January 7, 2022 amending and supplementing certain provisions of the Decree Number 53/2019/ND-CP dated June 17, 2019 of the Government; At the proposal of the Director of the Office of the State Bank of Vietnam;

The Governor of the State Bank of Vietnam issues this Circular amending, supplementing, and abolishing certain provisions of Circulars and consolidated documents regulating periodic reporting systems.

Article 1. Abolishing, amending, and supplementing provisions on periodic reporting systems

1. Abolishing the report on business and financial operations of Credit Cooperatives submitted by representatives as stipulated in Decision No. 61/2006/QD-NHNN dated December 29, 2006 of the Governor of the State Bank of Vietnam promulgating the Regulation on the management of state support capital for the People's Credit Fund system at the Central People's Credit Fund (hereinafter referred to as Decision No. 61/2006/QD-NHNN) as follows:

a) Abolishing Clause 1, Article 11 of the Regulation on the management of state support capital for the People's Credit Fund system at the Central People's Credit Fund issued together with Decision No. 61/2006/QD-NHNN;

b) Abolishing the Appendix attached to Decision No. 61/2006/QD-NHNN.

2. Abolishing the annual report on indirect foreign investment situations approved by the Prime Minister as stipulated in Circular No. 10/2016/TT-NHNN dated June 29, 2016 of the Governor of the State Bank of Vietnam guiding certain contents prescribed in Decree No. 135/2015/NĐ-CP dated December 31, 2015 of the Government on indirect foreign investment (hereinafter referred to as Circular No. 10/2016/TT-NHNN) as follows:

a) Abolishing Clause 2, Article 34 of Circular No. 10/2016/TT-NHNN; b) Replacing Appendix 15 issued together with Circular No. 10/2016/TT-NHNN with the Appendix issued together with this Circular.

3. Abolishing the report on cash foreign exchange transactions between credit institutions licensed and individuals as stipulated in Circular No. 20/2011/TT-NHNN dated August 29, 2011 of the Governor of the State Bank of Vietnam on the purchase and sale of cash foreign exchange between individuals and credit institutions licensed (hereinafter referred to as Circular No. 20/2011/TT-NHNN) as follows:

a) Article 10 of Circular No. 20/2011/TT-NHNN shall be amended and supplemented as follows:

"Article 10. Reporting System

4. Abolishing the annual report on technical requirements for security of equipment serving bank card payments as stipulated in Circular No. 47/2014/TT-NHNN dated December 31, 2014 of the Governor of the State Bank of Vietnam on technical requirements for security of equipment serving bank card payments (hereinafter referred to as Circular No. 47/2014/TT-NHNN) as follows:

Abolishing Clause 1, Article 20 of Circular No. 47/2014/TT-NHNN.

 Licensed credit institutions shall report on cash foreign exchange transactions with individuals according to the reporting and statistical system regulations of the State Bank applicable to credit institutions and foreign bank branches.";

5. Abolishing the annual report on security for online banking services as stipulated in Circular No. 35/2016/TT-NHNN dated December 29, 2016 of the Governor of the State Bank of Vietnam on security and confidentiality for online banking services (hereinafter referred to as Circular No. 35/2016/TT-NHNN) as follows:

Abolishing Clause 3, Article 20 of Circular No. 35/2016/TT-NHNN.

6. Amending and supplementing the report on the effectiveness and feasibility of pilot policies under Resolution No. 42/2017/QH14 as stipulated in Directive No. 06/CT-NHNN dated July 20, 2017 of the Governor of the State Bank of Vietnam on implementing Resolution No. 42/2017/QH14 on piloting the handling of non-performing loans of credit institutions and Decision No. 1058/QĐ-TTg of the Prime Minister approving the restructuring plan of credit institutions linked with the handling of non-performing loans for the period 2016-2020 (hereinafter referred to as Directive No. 06/CT-NHNN) as follows:

Amending and supplementing Point 7 (seven) of Point 3, Section II of Directive No. 06/CT-NHNN as follows:  

“Before August 15, 2021, submit a report evaluating the effectiveness and feasibility of pilot policies under Resolution No. 42/2017/QH14 based on the implementation results at credit institutions and propose improvements to relevant laws on non-performing loan handling, collateral assets, and related laws to the State Bank (through the Legal Department).”

The Director of the Office, Heads of units related to the State Bank, Governors of State Bank Branches in provinces and centrally governed cities, and Chairmen of Management Boards (Boards of Members), General Directors (Directors) of credit institutions, and foreign bank branches have the responsibility to implement this Circular.

This Circular takes effect from November 15, 2018./.

Article 2. Responsibility for Implementation

The Director of the Office, Heads of relevant units under the State Bank, Governors of the State Bank branches in centrally governed cities and provinces, Chairmen of the Management Boards (Board of Members), and General Directors (Directors) of credit organizations and foreign bank branches shall be responsible for implementing this Circular.

Article 3. Effectiveness

This Circular takes effect from November 15, 2018./.