Decision No. 63/2006/QD-NHNN of the State Bank of Vietnam issuing the Discount and Rediscount Regulation for Transferable Instruments for credit institutions with customers. This document shall take effect fifteen days from the date of publication in the Official Gazette.
Scope of application
Credit institutions and their customers.
Key points
- Credit institutions → are entitled to discount and rediscount transferable instruments with customers in accordance with the provisions of the Regulation.
- Customers → may receive discount services from credit institutions.
🌐 Social impact of this document
- Enhance credit and payment activities for customers, support enterprises in managing cash flow.
- May create financial pressure on some credit institutions if they fail to comply with the discount regulations.
❓ Frequently asked questions
Are credit institutions permitted to discount transferable instruments from customers?
Yes, credit institutions have the right to discount transferable instruments of customers according to the provisions of the Regulation.
When does this Decision come into effect?
The Decision shall take effect fifteen days from the date of publication in the Official Gazette.
Who is responsible for implementing this Decision?
Director of the Office, Heads of the Monetary Policy Department, 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 and General Directors (Directors) of credit institutions.
To which credit institutions does this Decision apply?
This Decision applies to all credit institutions licensed to operate by the State Bank of Vietnam.
Do customers have the right to request discounting of transferable instruments from credit institutions?
Yes, customers of credit institutions can request discount services for transferable instruments according to the provisions.
Full text
Pursuant to …;
ISSUING REGULATIONS ON DISCOUNT AND REBATE OF TRANSFERABLE INSTRUMENTS BY CREDIT ORGANIZATIONS FOR CUSTOMERS
GOVERNOR OF THE STATE BANK OF VIETNAM
WHEREAS, the Law on the State Bank of Vietnam 1997; the Law Amending and Supplementing Certain Articles of the Law on the State Bank of Vietnam 2003;
WHEREAS, the Law on Credit Organizations 1997; the Law Amending and Supplementing Certain Articles of the Law on Credit Organizations 2004;
Based on the Law on Transferable Securities 2005;
WHEREAS, Decree No. 52/2003/ND-CP dated May 19, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
AT THE REQUEST OF THE HEAD OF THE MONETARY POLICY DEPARTMENT;
DECISION
Article 1. THESE REGULATIONS ON DISCOUNT AND REBATE OF TRANSFERABLE INSTRUMENTS BY CREDIT ORGANIZATIONS FOR CUSTOMERS ARE HEREBY ADOPTED TOGETHER WITH THIS DECISION.
Article 2. THIS DECISION SHALL TAKE EFFECT FIFTEEN DAYS FROM THE DATE OF PUBLICATION IN THE CONSTITUTED GAZETTE.
Article 3. THE HEAD OF THE OFFICE, THE HEAD OF THE MONETARY POLICY DEPARTMENT, THE HEADS OF UNITS UNDER THE STATE BANK OF VIETNAM, THE DIRECTORS OF THE STATE BANK OF VIETNAM BRANCHES IN PROVINCES AND CENTRALLY-GOVERNED CITIES, THE CHAIRMEN OF THE MANAGEMENT BOARDS AND THE GENERAL DIRECTORS (DIRECTORS) OF CREDIT ORGANIZATIONS ARE RESPONSIBLE FOR IMPLEMENTING THIS DECISION./.
DEPUTY DIRECTOR
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