Decision No. 398/1999/QD-NHNN3 of the Governor of the State Bank of Vietnam on issuing the Remote Supervision Regulation for credit institutions operating in Vietnam, replacing the old regulation and coming into effect 15 days after the date of signing.
Scope of application
Credit institutions operating in Vietnam
Key points
- Credit institution → shall comply with the Remote Supervision Regulation issued by the State Bank of Vietnam
- Effective implementation period → 15 days after the date of signing the decision
- The State Bank of Vietnam → shall be responsible for managing and supervising credit institutions through the implementation of this regulation
- Credit institutions → shall be responsible for implementing this Decision
🌐 Social impact of this document
- Enhance the effectiveness of state management over the activities of credit institutions, protect the rights and interests of depositors and customers
- Credit institutions need to adjust their operational procedures according to the new regulations, which may encounter difficulties during the transition process
❓ Frequently asked questions
Which credit institutions does this Remote Supervision Regulation apply to?
The Remote Supervision Regulation applies to all credit institutions operating in Vietnam.
What is the effective period of this Decision?
This Decision comes into effect 15 days after the date of signing.
What must credit institutions implement under this new regulation?
Credit institutions must comply with the Remote Supervision Regulation issued by the State Bank of Vietnam.
Who is responsible for implementing this Decision?
The Director of the Office, the Inspector General, Heads of units under the State Bank of Vietnam, Governors of the State Bank of Vietnam Branches in provinces and centrally-administered cities, and General Directors (Directors) of credit institutions shall be responsible for implementing this Decision.
What regulation does this Decision replace?
This Decision replaces Decision No. 137/QD-NH3 dated May 24, 1997 of the Governor of the State Bank of Vietnam on issuing the 'Remote Supervision Regulation for Banks and Credit Institutions Operating in Vietnam'.
Full text
Pursuant to …;
Regarding the issuance of the Remote Supervision Regulation
for credit institutions operating in Vietnam
________________
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 and the Law on Credit Organizations No. 02/1997/QH10 dated December 12, 1997;
Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities of State management of Ministries and ministerial-level agencies;
Pursuant to Decree No. 91/1999/NĐ-CP dated September 4, 1999 of the Government on the organization and operation of the Banking Inspection;
At the proposal of the Head of the State Bank of Vietnam's Inspectorate.
DECISION:
Article 1 - The accompanying decision promulgates the "Remote Supervision Regulation for Credit Institutions Operating in Vietnam".
Article 2 - This Decision replaces Decision No. 137/QĐ-NH3 dated May 24, 1997 of the Governor of the State Bank of Vietnam on the issuance of the "Remote Supervision Regulation for Banks and Credit Institutions Operating in Vietnam" and shall take effect fifteen days from the date of signature.
Article 3 - The Heads of the Office, the Inspectorate, the Heads of units under the State Bank of Vietnam, the Governors of the State Bank of Vietnam Branches in provinces and centrally-administered cities, and the General Managers (Directors) of credit institutions are responsible for implementing this Decision./.
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