New Points in the Risk Classification of Money and Gold Deposited at Foreign Banks

04:43, 11/07/2024

The State Bank of Vietnam recently signed and issued Circular 37/2018/TT-NHNN amending and supplementing Circular 39/2013/TT-NHNN on the determination, setting up, management, and use of risk provisions of the State Bank of Vietnam.

According to Circular 37, money, gold deposited at foreign banks, lending and payment transactions with foreign banks are categorized into 03 risk groups, specifically:

- Group 1: Money, gold deposited at foreign banks, lending and payment transactions with partners meeting the investment criteria approved by the Governor of the State Bank in each period;- Group 2: Money, gold deposited at foreign banks, lending and payment transactions with partners not meeting the investment criteria of the Governor of the State Bank at the time risk provision is determined;- Group 3: Money, gold deposited at foreign banks, lending and payment transactions with partners in countries experiencing war, terrorism, bankruptcy, natural disasters, and such partners no longer have the ability to pay.

Refer to relevant regulations at Circular 37/2018/TT-NHNN in effect from February 15, 2019.

- Thanh Lam -

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