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THE STATE BANK
OF VIETNAM
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THE SOCIALIST
REPUBLIC OF VIET NAM
Independence-Freedom-Happiness
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No.
07/2025/TT-NHNN
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Hanoi, June 06,
2025
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CIRCULAR
AMENDMENTS TO
CIRCULAR NO. 39/2024/TT-NHNN DATED JULY 01, 2024 OF GOVERNOR OF STATE BANK OF
VIETNAM PRESCRIBING SPECIAL CONTROL OVER CREDIT INSTITUTIONS
Pursuant to the Law on the State Bank of Vietnam
dated June 16, 2010;
Pursuant to the Law on Credit Institutions dated
January 18, 2024;
Pursuant to the Government's Decree No.
26/2025/ND-CP dated February 24, 2025 prescribing functions, tasks, powers and
organizational structure of the State Bank of Vietnam (SBV);
At the request of the Director of the Department
of System Safety Supervision of Credit Institutions;
The Governor of the State Bank of Vietnam
promulgates a Circular providing amendments to the Circular No. 39/2024/TT-NHNN
dated July 01, 2024 of the Governor of State Bank of Vietnam prescribing
special control over credit institutions.
Article 1. Amendments to Circular No.
39/2024/TT-NHNN dated July 01, 2024 of Governor of State Bank of Vietnam
prescribing special control over credit institutions
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“Article 1. Scope
This Circular introduces regulations on authority
to make decisions on special control over credit institutions; forms of special
control; special control decisions; notification and disclosure of information
on special control; special control duration, extension and termination of
special control; recording of decrease in charter capital of commercial banks
placed under special control and subject to mandatory transfer plans approved
by the State Bank of Vietnam (SBV); composition, structure, operating
mechanism, tasks and powers of a special control board; responsibilities of
relevant authorities, organizations and individuals.
2. Article 7a is added
following Article 7 as follows:
“Article 7a. Recording of decrease in
charter capital of commercial banks placed under special control and subject to
mandatory transfer plans approved by State Bank of Vietnam
1. Within 10 days from the date on which SBV gives
approval for the mandatory transfer plan as prescribed in clause 4 Article 179
or clause 4 Article 180 of the Law on Credit Institutions, the commercial bank
placed under special control must complete determination and provide the
special control board with the consolidated income statement for the accounting
period starting from the date of the latest audited financial statements and
ending on the date on which SBV gives approval for the mandatory transfer plan
in conformity with Vietnam’s accounting standards, accounting policies and
relevant regulations of law.
2. Within 20 days from the date on which SBV gives
approval for the mandatory transfer plan as prescribed in clause 4 Article 179
or clause 4 Article 180 of the Law on Credit Institutions, the special control
board must complete determination and provide SBV (via Credit Institution
Management and Supervision Department) with the consolidated income statement
of the commercial bank placed under special control for the accounting period
prescribed in clause 1 of this Article (including the case where the commercial
bank placed under special control fails to complete determination of its
consolidated income statement as prescribed in clause 1 of this Article), and
request SBV (via Credit Institution Management and Supervision Department) to
make a decision to record a decrease in total charter capital of the commercial
bank to be transferred under an approved mandatory transfer plan to reduce its
corresponding accumulated losses as prescribed in clause 2 Article 183 of the
Law on Credit Institutions in case the commercial bank placed under special
control is incurring an amount of accumulated losses greater than the sum of
the entire amount of its charter capital and reserve funds as recorded in its
latest audited financial statements and its consolidated income statement
determined by the special control board as prescribed in this clause.
3. Based on the latest audited financial statements
and report/request submitted by the special control board as prescribed in
clause 2 of this Article, SBV shall include its decision to record a decrease
in total charter capital of the commercial bank to be transferred under an
approved mandatory transfer plan to reduce its corresponding accumulated losses
in the Decision on mandatory transfer as prescribed in clauses 2 and 3 Article
183 of the Law on Credit Institutions. The value of charter capital after
decrease shall replace that written in the License for establishment and
operation issued by SBV to the commercial bank placed under special control.”
3. Point b and point d
clause 3 Article 10 are amended as follows:
a) Point b is amended as follows:
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b) Point d is amended as follows:
“d) Head of a division or holder of
equivalent or higher position at the branch of the Credit Institution
Management and Supervision Department; Inspectorate of SBV's branch of province
or city where the credit institution placed under special control is
headquartered.”
4. Point b clause 4 Article
10 is amended as follows:
“b) Head of a division or holder of
equivalent or higher position at the branch of the Credit Institution
Management and Supervision Department; Inspectorate of SBV's branch of province
or city where the credit institution placed under special control is
headquartered.”
Article 2. Addition, replacement and removal of
some words to or in Circular No. 39/2024/TT-NHNN dated July 01, 2024 of
Governor of State Bank of Vietnam prescribing special control over credit
institutions
1. The phrase “,GHI GIẢM VỐN ĐIỀU LỆ” (“,
RECORDING OF DECREASE IN CHARTER CAPITAL”) is added following the end of
the heading of Chapter II.
2. The phrase “Ngân hàng Nhà nước chi nhánh tỉnh,
thành phố trực thuộc Trung ương” (“SBV’s branch of province or city”) is replaced
with the phrase “Ngân hàng Nhà nước chi nhánh Khu vực” (“SBV’s regional
branch”) in clause 2 Article 3.
3. The phrase “Cơ quan
Thanh tra, giám sát ngân hàng” (“SBV Banking Inspection Agency") is
replaced with the phrase “Cục Quản lý, giám sát tổ chức tín dụng” (“Credit
Institution Management and Supervision Department”) in clause 3 Article 3;
points a, b clause 4 Article 4; clause 1 Article 8; clause 1 Article 9; points
d, i, k clause 1 and clause 2 Article 11; clause 7 Article 12; heading of
Article 14; points b, d clause 1 Article 16; clause 6 Article 17, clause 2
Article 18.
4. The phrase “cấp huyện,” (“district level,”) in
point dd clause 3 Article 6 is removed.
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Article 3. Responsibility for implementation
Heads of units affiliated to SBV, Deposit Insurance
of Vietnam, Cooperative Bank of Vietnam, credit institutions placed under
special control, and special control boards in charge of such credit
institutions placed under special control are responsible for the
implementation of this Circular.
Article 4. Effect
This Circular comes into force from June 06,
2025./.
PP. GOVERNOR
DEPUTY GOVERNOR
Doan Thai Son