| STATE BANK OF VIETNAM ----------- No. 04/2012/TT-NHNN | SOCIALIST REPUBLIC OF VIETNAM Independence – Freedom – Happiness -------------------------- Hanoi, 08 March 2012 |
CIRCULAR
PROVIDING FOR THE ENTRUSTMENT TAKING AND ENTRUSTMENT OPERATIONS OF CREDIT INSTITUTIONS, FOREIGN BANK'S BRANCHES
---------------------
- Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated 16 June 2010;
- Pursuant to the Law on Credit Institutions No. 47/2010/QH12 dated 16 June 2010;
- Pursuant to the Decree No. 96/2008/ND-CP dated 26 August 2008 of the Government providing for the functions, duties, authorities and organizational structure of State Bank of Vietnam;
- In consideration of the proposal of the Director of Monetary Policy Department;
The Governor of the State Bank of Vietnam hereby promulgates the Circular on the entrustment taking and entrustment operations of credit institutions, foreign bank's branches in the banking-related field in accordance with the regulations of the Law on Credit Institution.
Section 1
GENERAL PROVISIONS
Article 1. Governing scope
This Circular provides in details for the entrustment taking and entrustment operation of the credit institutions, foreign bank's branches in the fields related to banking activities in accordance with provisions of the Law on Credit Institutions, including: Credit institutions, foreign bank's branches that receive trust from other credit institutions, foreign bank's branches and from organizations other than credit institutions, foreign bank's branches; credit institutions, foreign bank's branches that entrusts other credit institutions, foreign bank's branches.
Article 2. Subjects of application
1. The entrusted party shall be credit institutions, foreign bank's branches which are established and operate in accordance with provisions of the Law on Credit Institutions, including: Commercial banks, finance companies, finance leasing companies, cooperative banks, people’s credit funds, micro-financial institutions and foreign bank's branches.
2. The entrusting party shall include:
a) The credit institutions, foreign bank's branches which are established and operated under regulation of Law on Credit Institution: The commercial banks, finance companies, cooperative banks, micro-financial institutions and foreign bank's branches.
b) Local institutions other than credit institutions, foreign bank's branches (hereinafter referred to as other institutions), which are legal entities with civil legal capacity in accordance with regulations of applicable laws.
