Legal Counselling

Vietnam: Amending the chart of accounts of credit institutions

11:55, 22/01/2018

This is a notable content specified in Circular No. 22/2017/TT-NHNN of the State Bank of Vietnam on amendment of, supplementation to several accounts in the chart of accounts of credit institutions issued together with Decision No. 479/2004/QD-NHNN.

According to Circular No. 22/2017/TT-NHNN of the State Bank of Vietnam, the chart of accounts of credit institutions is amended as follows:

- Name of Account 20- Lending to other credit institutions is changed into “Credit extension to other credit institutions”.

- Name of Account 275- Other lending is changed into “Other credit extensions”.

- Name of Account 387- Foreclosed assets of which ownership has been transferred to credit institutions, pending for settlement is changed into “Assets put up as replacement for the fulfillment of the guarantor‘s obligation of which ownership has been transferred to credit institutions, pending for settlement”.

- Name of Account 41- Debts to other credit institutions is changed into “Debts to other credit institutions and financial institutions”.

- Account 419- Borrowings through discount, rediscount of negotiable instruments and other financial instruments is amended as follows:

+ Name of Account 419 is changed into “Other receipts of credit extensions”;

+ Tier III Accounts “4191 – Receipt of credit extension under the form of discount, rediscount of negotiable instruments and other financial instruments” and “4199- Other receipt of credit extension” are added.

- etc.

View more details at Circular No. 22/2017/TT-NHNN of the State Bank of Vietnam, effective from April 01, 2018.

- Thanh Lam -

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