THE STATE BANK OF VIETNAM
Circular No. 10/2012/TT-NHNN of April 16, 2012, providing the post-inspection and -supervision handling of credit institutions and foreign bank branches
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 15, 2010 Law No. 56/2010/QH12 on Inspection;
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 Chief of the Banking Supervisory Agency;
The Governor of the State Bank of Vietnam (below referred to as the State Bank) issues this Circular to guide the post-inspection and -supervision handling of credit institutions and foreign bank branches.
Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation
1. This Circular provides the post inspection and -supervision handling of credit institutions and foreign bank branches operating in Vietnam.
2. Post-inspection and supervision handling of credit institutions and foreign bank branches provided in this Circular covers the following contents:
a/ Handling of the compliance of inspection conclusions;
b/ Handling after credit institutions and foreign bank branches are administratively sanctioned;
c/ Handling in the supervision of credit institutions and foreign bank branches.
3. Special control of credit institutions, revocation of establishment and operation licenses of credit institutions and foreign bank branches, and blockade of capital and assets of foreign bank branches comply with the State Bank’s regulations and other relevant regulations.
