Rules of bond issuance by credit institutions in Vietnam from February 19, 2020
This is a notable content specified in Circular No. 33/2019/TT-NHNN of the State Bank of Vietnam on amendments to Circular No. 34/2013/TT-NHNN dated December 31, 2013 of the Governor of the State Bank of Vietnam on domestic issuance of promissory notes, treasury bills, deposit certificates and bonds by credit institutions and foreign bank branches.
Article table of contents
According to Clause 5 Article 1 of Circular No. 33/2019/TT-NHNN of the State Bank of Vietnam (SBV), a credit institution that performs the private placement of bonds shall comply with Decree No. 163/2018/ND-CP of Vietnam’s Government, provisions herein and relevant laws. Regarding the requirement set forth in Point g Clause 1 Article 10 of Decree No. 163/2018/ND-CP, the credit institution shall comply with provisions in Clause 1 Article 130 of the Law on Credit Institutions and SBV’s guidelines.
Moreover, a credit institution that performs the public offering of bonds shall comply with the Law on Securities, provisions herein and relevant laws.
Besides, the plan for private placement of bonds must be approved by a competent authority as prescribed in Decree No. 163/2018/ND-CP. The plan for public offering of bonds requires both approval from a competent authority of the credit institution in accordance with the Law on Securities of Vietnam and approval from SBV.
View other provisions at Circular No. 33/2019/TT-NHNN of the State Bank of Vietnam, effective from February 19, 2020.
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