Forms of issuance of valuable papers by credit institutions in Vietnam

08:50, 03/01/2013

This is one of the important contents mentioned in Circular No. 34/2013/TT-NHNN of the State Bank of Vietnam providing for the domestic issuance of promissory notes, bills, deposit certificates, bonds by credit institutions, foreign bank branches.

Forms of issuance of valuable papers by credit institutions are specified in Circular No. 34/2013/TT-NHNN of the State Bank of Vietnam as follows:

hinh thuc phat hanh giay to co gia, to chuc tin dung, thong tu 34/2013/TT-NHNN

- Credit institutions, foreign bank branches shall issue valuable papers in the forms of non- bearer valuable papers, bearer valuable papers.

- For the case where the buyer of valuable papers is a foreign entity, foreign individual, the credit institutions, foreign bank branches shall only be permitted to issue valuable papers in the form of non-bearer valuable papers.

- For the case of issuing valuable papers in the form of book entry, the issuing credit institutions, foreign bank branches shall grant the buyer of valuable paper with a certificate of valuable paper ownership.

In which:

- Non-bearer valuable paper shall mean the valuable paper that is issued in the form of a certificate or book entry with name of the owner.

- Bearer valuable paper means the valuable paper that is issued in the form of a certificate without name of the owner. Bearer valuable paper is subject to the ownership of the person who holds the valuable paper.

View more details at Circular No. 34/2013/TT-NHNN of the State Bank of Vietnam, effective from February 14, 2014.

Thu Ba

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