THE STATE BANK OF VIETNAM

Circular No. 04/2013/TT-NHNN of March 1, 2013, providing the discount of negotiable instruments and other valuable papers by credit institutions and foreign bank branches for clients
Pursuant to June 16, 2010 Law No. 46/2010/QH12 on the State Bank of Vietnam;
Pursuant to June 16, 2010 Law No. 47/2010/QH12 on Credit Institutions;
Pursuant to November 29, 2005 Law No. 49/2005/QH11 on Negotiable Instruments;
Pursuant to the Government’s Decree No. 96/2008/ND-CP of August 26, 2008, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
At the proposal of the director of the Monetary Policy Department;
The Governor of the State Bank of Vietnam promulgates the Circular providing the discount of negotiable instruments and other valuable papers by credit institutions and foreign bank branches for clients.
Article 1. Scope of regulation
This Circular provides the discount of negotiable instruments and other valuable papers by credit institutions and foreign bank branches for clients.
Article 2. Subjects of application
1. Credit institutions, including:
a/ Commercial banks;
b/ Financial companies;
c/ Financial leasing companies and cooperative banks as approved in writing by the State Bank.
2. Foreign bank branches.
3. Clients having negotiable instruments and other valuable papers discounted, who are beneficiaries of negotiable instruments permitted for trading in Vietnam or owners of valuable papers issued in the Vietnamese territory (below referred to as clients), including:
a/ Domestic institutions (excluding credit institutions and foreign bank branches) and domestic individuals;