Decision No. 648/2003/QĐ-NHNN of the State Bank of Vietnam issuing regulations on the disposal of collateral assets of banks borrowing from the State Bank, to take effect fifteen days after publication in the Official Gazette.
Scope of application
Banks borrowing from the State Bank
Key points
- Borrowing bank → shall dispose of collateral assets in accordance with the regulations of the State Bank.
🌐 Social impact of this document
- Positive impact: Creates a legal basis for the transparent and effective disposal of collateral assets, helping borrowing banks resolve financial risks.
- Negative impact: May cause difficulties in the disposal process if the regulations are too stringent or not suitable for the business realities of the banks.
❓ Frequently asked questions
When does this decision come into effect?
The decision takes effect fifteen days after its publication in the Official Gazette.
How do borrowing banks dispose of collateral assets?
Borrowing banks dispose of collateral assets in accordance with the regulations of the State Bank, specific details are not provided in the text.
Does this decision apply to banks borrowing from the State Bank?
Yes, the decision only applies to banks borrowing from the State Bank.
What is the duration of implementation of this decision?
The decision takes effect fifteen days after its publication in the Official Gazette, the duration of implementation is not specified in the text.
What must borrowing banks do to comply with this decision?
Heads of units under the State Bank, Governors of State Bank Branches in provinces and centrally-administered cities, Chairmen of Boards of Directors and General Managers (Directors) of banks are responsible for implementing this decision.
Full text
Pursuant to …;
Regarding the issuance of regulations on the handling of collateral assets of banks borrowing from the State Bankbank borrowing from the State Bank
_________________
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam and the Law on Credit Organizations dated December 12, 1997,
Pursuant to Decree No. 86/2002/NĐ-CP dated November 5, 2002 of the Government stipulating the functions, tasks, powers, and organizational structure of Ministries and ministerial-level agencies,
Pursuant to the proposal of the Director of the Monetary Policy Department,
Pursuant to …;
Article 1. Issuing Regulations on the Handling of Collateral Assets of Banks Borrowing from the State Bank
Article 2. This Decision takes effect fifteen days from the date of publication in the Official Gazette.
Article 3. Heads of units under the State Bank, Governors of the State Bank Branches in provinces and centrally-administered cities, Chairmen of the Boards of Management and General Directors (Directors) of banks are responsible for implementing this Decision./.
DEPUTY DIRECTOR
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