Decision No. 51/2006/QD-NHNN of the Governor of the State Bank of Vietnam cancels Article 4 in the Provision on the method of calculating and accounting for interest income and expenditure issued by Decision No. 652/2001/QD-NHNN. The Decision takes effect fifteen days after its publication in the Official Gazette.
Key points
- The Decision cancels Article 4 of the Provision on the method of calculating and accounting for interest income and expenditure issued by Decision No. 652/2001/QD-NHNN.
- The Decision takes effect fifteen days after its publication in the Official Gazette.
🌐 Social impact of this document
- Due to the absence of previous regulations on the method of calculating and accounting for interest income and expenditure, credit organizations will need to adjust their financial management practices.
- Banks may require time to adapt to this change.
❓ Frequently asked questions
When does this Decision take effect?
The Decision takes effect fifteen days after its publication in the Official Gazette.
When was Article 4 of the old Provision cancelled?
Article 4 of the Provision on the method of calculating and accounting for interest income and expenditure issued by Decision No. 652/2001/QD-NHNN has been cancelled by this Decision.
How does this Decision affect citizens?
Citizens are not directly affected by this Decision, but the financial services they use from credit organizations may change due to adjustments in bank financial management.
Full text
| STATE BANK OF VIETNAM VIETNAM |
SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness |
| Number: 51/2006/QD-NHNN | Hanoi, October 6, 2006 |
Pursuant to …;
Regarding the cancellation of Article 4 of the Regulations on Methods for Calculating and Accounting for Interest Income and Expenditure of the State Bank and Credit Institutions issued together with Decision No. 652/2001/QD-NHNN dated May 17, 2001 of the Governor of the State Bank of Vietnam
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam 1997; the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam 2003;
Pursuant to Decree No. 52/2003/ND-CP dated May 19, 2003, issued by the Government, detailing the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
Pursuant to Decree No. 07/2006/ND-CP dated January 10, 2006 of the Government stipulating the financial regime of the State Bank of Vietnam;
At the proposal of the Director of the Accounting and Finance Department,
Pursuant to …;
Article 1. Cancel Article 4 of the Regulations on Methods for Calculating and Accounting for Interest Income and Expenditure of the State Bank and Credit Institutions issued together with Decision No. 652/2001/QD-NHNN dated May 17, 2001 of the Governor of the State Bank.
Article 2. This Decision shall take effect fifteen (15) days from the date of publication in the Official Gazette.
Article 3. The Heads of the Office, the Directors of the Accounting and Finance Department, the Director of the Banking Information Technology Department, the Heads of relevant units under the State Bank, the Governors of the State Bank Branches in provinces and centrally governed cities are responsible for implementing this Decision./.
| DIRECTOR DEPUTY DIRECTOR (Signed) Vu Thi Lien |
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