CIRCULAR

AMENDMENTS TO CIRCULARS PRESCRIBING DIVISION OF AUTHORITY TO HANDLE ADMINISTRATIVE PROCEDURES RELATED TO ESTABLISHMENT AND OPERATION OF BANKS

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2010 and the Law providing amendments to the Law on Credit Institutions dated November 20, 2017;

Pursuant to the Government's Decree No. 102/2022/ND-CP dated December 12, 2022 prescribing functions, tasks, powers and organizational structure of the State bank of Vietnam;

At the request of the Head of the SBV Banking Supervision Agency;

The Governor of the State Bank of Vietnam promulgates a Circular providing amendments to the Circulars prescribing division of authority to handle administrative procedures related to establishment and operation of banks.

Article 1. Amendments to the Circular No. 43/2015/TT-NHNN dated December 31, 2015 of the Governor of the State Bank of Vietnam prescribing organization and operation of postal transaction offices of LienViet Post Joint Stock Commercial Bank (LienVietPostBank)

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“7. “SBV’s provincial branch” means a branch of the State Bank of Vietnam in a province or central-affiliated city.”

2. Clause 2 Article 4 is amended as follows:

“2. Pursuant to the provisions of this Circular and based on specific objectives of monetary policy in each period, the SBV’s Governor shall authorize Directors of SBV’s branches to:

a) give or refuse to give approval for shutdown of postal transaction offices in their provinces or cities (in cases of voluntary shutdown);

b) make certification of fulfillment by LienVietPostBank of conditions for inauguration of postal transaction offices in their provinces or cities;

c) make certification of fulfillment of conditions for operation at the new location in case a postal transaction office is relocated within the same province or city;

d) enforce shutdown of postal transaction offices in their provinces or cities.”

3. Clause 2 and Clause 3 Article 14 are amended as follows:

“2. Procedures for voluntary shutdown of a postal transaction office:

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b) Within 07 (seven) business days from the receipt of an adequate application as prescribed in this Circular, the SBV’s branch of province or city where the postal transaction office to be shut down is located shall give a written approval for the shutdown of that postal transaction office. If an application is refused, written reasons for refusal shall be provided.

3. Within 45 (forty five) days from the date on which the SBV’s branch of province or city where the postal transaction office to be shut down is located gives its written approval as prescribed in Point b Clause 2 of this Article, LienVietPostBank shall follow legal procedures for shutdown of that postal transaction office, and send a report to the mentioned SBV’s branch on the specific date of shutdown of that postal transaction office.”

4. Point 4 of Appendix 01 is amended as follows:

“4. Report recipient:

* A SBV’s branch shall receive reports on capital mobilization of each postal transaction office in its province or city, and consolidated reports on capital mobilization of all postal transaction offices in its province or city.

* The SBV Banking Supervision Agency shall receive consolidated reports on capital mobilization of all postal transaction offices under the management of the postal savings branch”.

5. The following phrases and Clauses are replaced and abrogated:

a) The phrase “Ngân hàng Nhà nước (qua Cục Thanh tra, giám sát ngân hàng, Ngân hàng Nhà nước chi nhánh nơi đặt trụ sở phòng giao dịch bưu điện)” (“the SBV (through the SBV Banking Supervision Agency or the SBV’s branch of province or city where the postal transaction office is located)”) in Point b Clause 5 Article 8 and Clause 2, Clause 4 Article 17 is replaced with the phrase “Ngân hàng Nhà nước chi nhánh nơi đặt trụ sở phòng giao dịch bưu điện” (“the SBV’s branch of province or city where the postal transaction office is located”);

b) The phrase “Ngân hàng Nhà nước (qua Ngân hàng Nhà nước chi nhánh hoặc Cục Thanh tra, giám sát ngân hàng nơi Ngân hàng thương mại cổ phần Bưu Điện Liên Việt dự kiến đặt trụ sở phòng giao dịch bưu điện)” (“the SBV (through the SBV’s branch of or the SBV Banking Supervision Agency in province or city where the postal transaction office of LienVietPostBank will be located)”) in Point a Clause 2 Article 9 and Point a Clause 3 Article 10 is replaced with the phrase “Ngân hàng Nhà nước chi nhánh nơi Ngân hàng thương mại cổ phần Bưu Điện Liên Việt dự kiến đặt trụ sở phòng giao dịch bưu điện” (“the SBV’s branch of province or city where the postal transaction office of LienVietPostBank will be located”);

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d) Clause 4 Article 18 is abrogated.

Article 2. Amendments to the Circular No. 53/2018/TT-NHNN dated December 31, 2018 of the Governor of the State Bank of Vietnam on operating network of non-bank credit institutions

1. Clause 2 Article 4 is amended as follows:

“2. Director of a SBV's provincial branch shall consider giving or refusing to give approval for:

a) relocation of a non-bank credit institution’s branch within the province or city under his/her management (including the case where the relocation is made before the inauguration date);

b) voluntary shutdown or dissolution of a non-bank credit institution’s branch in his/her province or city.”

2. Clause 3 and Clause 6 Article 13 are amended as follows:

“3. Procedures:

a) The non-bank credit institution shall prepare an application as prescribed in Clause 2 of this Article and submit it to the SBV’s branch of the province or city where the branch is located. If the application is inadequate or invalid, within 5 business days from the receipt of the application, the SBV’s branch shall request the applicant in writing to modify the application.

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“6. If a branch's address is changed as a result of changes in administrative divisions (i.e. the branch is not relocated), the non-bank credit institution shall send an application for certification of change in the branch’s address to the SBV’s provincial branch. The application shall be accompanied by documents proving the change in the branch’s address.

Within 05 business days from the receipt of the application, the SBV’s branch of the province or city where the branch is located shall give a written certification of the change in the branch’s address to the applicant.”

3. Clause 2 and Clause 3 Article 18 are amended as follows:

“2. Procedures for voluntary shutdown or dissolution of a branch:

a) The non-bank credit institution shall prepare an application as prescribed in Clause 1 of this Article and submit it to the SBV’s branch of the province or city where the branch is located;

b) Within 45 business days from the receipt of an adequate application as prescribed in Clause 1 of this Article, the SBV’s branch shall give or refuse to give a written approval to the applicant. In case of refusal, reasons for refusal shall be provided.

3. Within 45 days from the date on which the SBV’s branch gives a written approval for shutdown or dissolution of the branch, the non-bank credit institution shall follow legal procedures for the shutdown or dissolution of that branch and submit a report to the SBV’s branch of the province or city where the branch is located on the specific date of shutdown or dissolution of the branch and results thereof.”

4. Article 22 is amended as follows:

“Article 22. Responsibilities of SBV’s branches of provinces or cities where branches, representative offices, transaction offices or administrative units of non-bank credit institutions are located

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2. Cooperate with the SBV Banking Supervision Agency in settling issues concerning the organization and operation of branches, transaction offices, representative offices and administrative units of non-bank credit institutions in their provinces or cities.

3. Provide their opinions for the SBV Banking Supervision Agency as prescribed in Point c Clause 1 Article 10 of this Circular.

4. Submit written requests to the SBV (via the SBV Banking Supervision Agency) as prescribed in Clause 2 Article 19.

5. Receive reports and notifications from non-bank credit institutions in accordance with the provisions of this Circular.”

5. The following phrases and Clauses are replaced and abrogated:

a) The phrase “Ngân hàng Nhà nước chi nhánh (nơi không có Cục Thanh tra, giám sát ngân hàng)” (“the SBV’s branch of the province or city (where the office of the SBV Banking Supervision Agency is not established)”) in Point b Clause 2, Point c Clause 3 Article 10, Clause 2 Article 19, the phrase “Cục Thanh tra, giám sát ngân hàng, Ngân hàng Nhà nước chi nhánh (nơi không có Cục Thanh tra, giám sát ngân hàng)” (“the office of the SBV Banking Supervision Agency or the SBV’s branch (if the former is not established)”) in Clause 4 Article 13, the phrase “Ngân hàng Nhà nước chi nhánh hoặc Cục Thanh tra, giám sát ngân hàng” (“the SBV’s branch or the office of the SBV Banking Supervision Agency”) in Clause 5 Article 13, Article 15, and the phrase “Ngân hàng Nhà nước chi nhánh hoặc của Cục Thanh tra, giám sát ngân hàng” (“the SBV’s branch or of the office of the SBV Banking Supervision Agency”) in Clause 5 Article 13 are replaced with the phrase “Ngân hàng Nhà nước chi nhánh” (“the SBV’s branch”);

b) The phrase “(nơi không có Cục Thanh tra, giám sát ngân hàng)” (“where the office of the SBV Banking Supervision Agency is not established”) in Point c (i) Clause 1 Article 10 is abrogated;

c) Clause 6 Article 3 is abrogated.

Article 3. Amendments to the Circular No. 25/2017/TT-NHNN dated December 29, 2017 of the Governor of the State Bank of Vietnam prescribing application and procedures for approval of changes of non-bank credit institutions

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“3. The SBV’s Governor shall authorize the Head of the SBV Banking Supervision Agency to consider issuing a decision to modify the license regarding the renaming of the non-bank credit institution.”

2. Clause 6 Article 6 is amended and Clause 7 is added to Article 6 as follows:

“6. Where its head office’s address is changed (i.e. its head office is not relocated), the non-bank credit institution shall send a written notification of change in the head office’s address and a request for modification of the license regarding change in the head office’s address either by post or directly to the SBV.

Within 20 days from the receipt of the request from the non-bank credit institution, the SBV shall issue a decision to modify the license regarding change in the head office’s address of the non-bank credit institution as prescribed in this Clause.

7. The SBV’s Governor shall authorize the Head of the SBV Banking Supervision Agency to consider issuing a decision to modify the license regarding relocation of the head office of the non-bank credit institution within the same province or city where it is headquartered and regarding the change in the head office’s address (without relocation of the head office) of the non-bank credit institution.

3. The following phrases and Points are replaced and abrogated:

a) The phrase “Cục Thanh tra, giám sát ngân hàng hoặc Ngân hàng Nhà nước chi nhánh nơi tổ chức tín dụng phi ngân hàng đặt trụ sở mới đối với tỉnh, thành phố không có Cục Thanh tra, giám sát ngân hàng” (“the office of the SBV Banking Supervision Agency or the SBV’s branch of province or city to which the head office of the non-bank credit institution is relocated (if the former is not established)”) in Clause 4 Article 6 is replaced with the phrase “Ngân hàng Nhà nước chi nhánh nơi tổ chức tín dụng phi ngân hàng đặt trụ sở mới” (“the SBV’s branch of province or city to which the head office of the non-bank credit institution is relocated”);

b) The phrase “Ngân hàng Nhà nước chi nhánh nơi tổ chức tín dụng phi ngân hàng đặt trụ sở chính đối với tỉnh, thành phố không có Cục Thanh tra, giám sát ngân hàng” (“the SBV’s branch of province or city where the non-bank credit institution is headquartered (if the office of the SBV Banking Supervision Agency is not established)”) in Point b Clause 2 Article 7 and the phrase “Cục Thanh tra, giám sát ngân hàng hoặc Ngân hàng Nhà nước chi nhánh nơi tổ chức tín dụng phi ngân hàng đặt trụ sở chính đối với tỉnh, thành phố không có Cục Thanh tra, giám sát ngân hàng” (“the office of the SBV Banking Supervision Agency or the SBV’s branch of province or city where the non-bank credit institution is headquartered (if the former is not established)”) in Point a Clause 3 Article 11, Point a Clause 2 Article 12 are replaced with the phrase Ngân hàng Nhà nước chi nhánh nơi tổ chức tín dụng phi ngân hàng đặt trụ sở chính” ("the SBV’s branch of province or city where the non-bank credit institution is headquartered”);

c) The phrase “Cục Thanh tra, giám sát ngân hàng hoặc Ngân hàng Nhà nước chi nhánh” (“the office of the SBV Banking Supervision Agency or the SBV’s branch”) in Clause 3, Clause 4 Article 11, Clause 2, Clause 3 Article 12, the phrase “Ngân hàng Nhà nước chi nhánh hoặc Cục Thanh tra, giám sát ngân hàng” (“the SBV’s branch or the office of the SBV Banking Supervision Agency”) in Point b Clause 3 Article 11, and the phrase “Ngân hàng Nhà nước chi nhánh, Cục Thanh tra, giám sát ngân hàng” (“the SBV’s branch, the office of the SBV Banking Supervision Agency”) in Clause 2 Article 14 are replaced with the phrase “Ngân hàng Nhà nước chi nhánh” (“the SBV’s branch”);

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Article 4. Amendments to the Circular No. 09/2018/TT-NHNN dated March 30, 2018 of the Governor of the State Bank of Vietnam on operating network of credit institutions that are cooperatives

1. Article 4 is amended as follows:

“Article 4. Power of the SBV’s Governor

Based on socio-economic development, political, national defense and security objectives and orientations for development of banking sector in each period, the SBV’s Governor shall:

1. consider giving or refusing to give approval for establishment of domestic branches, transaction offices, representative offices and administrative units, and overseas representative offices, shutdown or dissolution of branches, compulsory shutdown or dissolution of domestic transaction offices, representative offices and administrative units of cooperative banks in accordance with the provisions of this Circular.

2. authorize Directors of SBV’s branches of provinces or central-affiliated cities (hereinafter referred to as “Directors of SBV’s branches”) to:

a) give or refuse to give approval for relocation of branches and/or transaction offices of cooperative banks within their provinces or cities (including the case where the relocation is made before the inauguration date);

b) give or refuse to give approval for shutdown or dissolution of transaction offices of cooperative banks in their provinces or cities (in cases of voluntary shutdown);

c) give or refuse to give approval for the establishment, relocation, shutdown or dissolution of transaction offices of people’s credit funds in their provinces or cities;

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2. Clause 2 and Clause 4 Article 18 are amended as follows:

“2. Procedures:

a) The cooperative bank shall prepare an application as prescribed in Point b Clause 1 of this Article and send it to the SBV’s branch of the province or city where its branch is located;

b) Within 10 business days from the receipt of an adequate application as prescribed in Point b Clause 1 of this Article, the SBV’s branch of the province or city where the branch is located shall inspect the new location of the branch and give or refuse to give a written approval for the branch’s relocation. In case of refusal, reasons for refusal shall be provided.”

“4. If a branch's address is changed as a result of changes in administrative divisions (i.e. the branch is not relocated), the cooperative bank shall send an application for certification of change in the branch’s address to the SBV’s provincial branch. The application shall be accompanied by documents, issued by competent administrative authorities, proving or certifying the change in the branch’s address.

Within 05 business days from the receipt of the application, the SBV’s branch of the province or city where the branch is located shall give a written certification of the change in the branch’s address to the applicant.”

3. Clause 2 Article 40 is amended as follows:

“2. Procedures for voluntary shutdown or dissolution of a transaction office:

a) The people’s credit fund shall prepare an application as prescribed in Clause 1 of this Article and send it to the SBV’s branch;

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4. Article 44 is amended as follows:

“Article 44. Responsibilities of SBV’s branches of provinces or cities where branches, transaction offices, representative offices or administrative units of credit institutions that are cooperatives are located

1. Assume responsibility before the SBV’s Governor for performance of tasks within their competence as prescribed in this Circular.

2. Cooperate with the SBV Banking Supervision Agency in settling issues concerning the organization and operation of branches, transaction offices, representative offices and administrative units of cooperative banks in their provinces or cities.

3. Carry out management, inspection and supervision of operations of branches, transaction offices, administrative units and representative offices of cooperative banks in their provinces or cities in accordance with the provisions of this Circular and other relevant documents of the SBV.

4. Send written requests to the SBV’s Governor to shut down or dissolve branches, transaction offices, representative offices and administrative units of cooperative banks upon the occurrence of any of the cases specified in Clause 1 Article 25 of this Circular.”

5. The following phrases and Points are replaced and abrogated:

a) The phrase “Ngân hàng Nhà nước chi nhánh, Cục Thanh tra, giám sát ngân hàng” (“the SBV’s branch, the office of the SBV Banking Supervision Agency”) in Clause 2, Clause 3 Article 8, Clause 3 Article 18, Clause 3 Article 20, the phrase “Cục Thanh tra, giám sát ngân hàng hoặc Ngân hàng Nhà nước chi nhánh (nơi không có Cục Thanh tra, giám sát ngân hàng)” (“the office of the SBV Banking Supervision Agency or the SBV’s branch (if the former is not established)”) in Clause 3 Article 15, Clause 1 Article 16, Article 17, Article 19, Clauses 2, 4 Article 20, Clause 2 Article 21, Article 23, Clause 3 Article 27, the phrase “Cục Thanh tra, giám sát ngân hàng, Ngân hàng Nhà nước chi nhánh (nơi không có Cục Thanh tra, giám sát ngân hàng)” (“the office of the SBV Banking Supervision Agency, the SBV’s branch (if the former is not established)”) in Clause 4 Article 15, Clause 2 Article 21, the phrase “Ngân hàng Nhà nước chi nhánh hoặc Cục Thanh tra, giám sát ngân hàng” (“the SBV’s branch or the office of the SBV Banking Supervision Agency”) in Clause 4 Article 20, Clause 1 Article 24, the phrase “Ngân hàng Nhà nước chi nhánh và Cục Thanh tra, giám sát ngân hàng” (“the SBV’s branch and the office of the SBV Banking Supervision Agency”) in Clause 4 Article 27, the phrase “Ngân hàng Nhà nước chi nhánh hoặc của Cục Thanh tra, giám sát ngân hàng” (“the SBV’s branch or of the office of the SBV Banking Supervision Agency”) in Clause 4 Article 27, the phrase “Ngân hàng Nhà nước chi nhánh (nơi không có Cục Thanh tra, giám sát ngân hàng)” (“the SBV’s branch (if the office of the SBV Banking Supervision Agency is not established)”) in Clause 3 Article 28, the phrase “Ngân hàng Nhà nước chi nhánh và Cục Thanh tra, giám sát ngân hàng (nơi có Cục Thanh tra, giám sát ngân hàng)” (“the SBV’s branch and the office of the SBV Banking Supervision Agency (if established)”) in Article 35, and the phrase “Ngân hàng Nhà nước chi nhánh (nơi có Cục Thanh tra, giám sát ngân hàng)” (“the SBV’s branch (if the office of the SBV Banking Supervision Agency is established)”) in Clause 3 Article 45 are replaced with the phrase “Ngân hàng Nhà nước chi nhánh” (“the SBV’s branch”);

b) The phrase “(trừ tỉnh, thành phố nơi có Cục Thanh tra, giám sát ngân hàng)” (“except province or city where the office of the SBV Banking Supervision Agency is established”) in Point b Clause 2 Article 14 and the phrase “trên địa bàn tỉnh, thành phố nơi có Cục Thanh tra, giám sát ngân hàng” (“in province or city where the office of the SBV Banking Supervision Agency is established”) in Clause 2 Article 45 are abrogated;

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d) Point b Clause 2 Article 33 is abrogated.

Article 5. Amendments to the Circular No. 10/2018/TT-NHNN dated April 09, 2018 of the Governor of the State Bank of Vietnam prescribing application and procedures for granting approval for changes of microfinance institutions

1. Clause 3 is added to Article 5 as follows:

“3. The SBV’s Governor shall authorize the Head of the SBV Banking Supervision Agency to consider issuing a decision to modify the license regarding the renaming of the microfinance institution.”

2. Clause 6 is added to Article 6 as follows:

“6. The SBV’s Governor shall authorize the Head of the SBV Banking Supervision Agency to consider issuing a decision to modify the license regarding the relocation of the head office of the microfinance institution.”

3. Article 14 is amended as follows:

“Article 14. Responsibilities of SBV Banking Supervision Agency

1. Appraise received applications and consider issuing decisions to modify the license regarding the changes of microfinance institutions prescribed in Articles 5, 6 of this Circular.

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3. Request the SBV’s Governor to send written requests to People's Committees of provinces or central-affiliated cities where microfinance institutions are headquartered for their opinions about sale, purchase or transfer of stakes of owners.

4. Get opinions of the relevant People's Committee of province or central-affiliated city to which the headquarters of the microfinance institution is relocated in case the headquarters of the microfinance institution is relocated to another province or city.

5. Get opinions of the SBV’s branch of province or city where the microfinance institution is headquartered in the following cases:

a) Renaming or relocation of the headquarters of the microfinance institution;

b) Change in duration of operation of the microfinance institution;

c) Sale, purchase and transfer of stakes of the owner of the microfinance institution.

6. Notify written approvals, decisions to modify license regarding changes of a microfinance institution to the SBV's branch of province or city where that microfinance institution is headquartered.”

Article 6. Responsibility for implementation

The Chief of Office, Head of SBV Banking Supervision Agency, heads of SBV’s affiliated units and credit institutions shall organize the implementation of this Circular.

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This Circular comes into force from March 01, 2023./.

PP. GOVERNOR
DEPUTY GOVERNOR




Dao Minh Tu