THE STATE BANK OF VIETNAM
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THE SOCIALIST REPUBLIC OF VIETNAM
Independence– Freedom – Happiness
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No.: 12/2012/TT-NHNN
Hanoi, April 27, 2012
 
CIRCULAR
AMENDING AND SUPPLEMENTING SOME ARTICLES OF THE CIRCULAR NO. 11/2011/TT-NHNN DATED APRIL 29, 2011 OF GOVERNOR OF STATE BANK OF VIETNAM ON TERMINATION OF MOBILIZATION AND LOAN IN GOLD OF CREDIT ORGANIZATION
 
Pursuant to the Law on State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;
Pursuant to the Law on Credit institutions No. 47/2010/QH12 dated June 16, 2010;
Pursuant to the Decree No. 96/2008/ND-CP dated August 26, 2008 of the Government stipulating the functions, duties, powers and organizational structure of the State Bank of Vietnam;
Implementing Resolution No. 01/ND-CP dated January 03, 2012 of the Government on the key solutions to direct and operate the implementation of the plan for social and economic development and the state budget estimate in 2012; Resolution No.01/NQ-CP dated February 24, 2011 of the Government on the key solutions in order to focus on inflation control, macro economy stability and social security assurance.
Considering the proposal of Director of Department of Monetary Policy;
The Governor of the State Bank of Vietnam has promulgated the Circular on amending and supplementing some articles of Circular No. 11/2011/TT-NHNN dated April 29, 2011 of the State Bank of Vietnam stipulating the termination of mobilization and loan in gold of credit organizations.
Article 1. Supplementing and amending some articles of the Circular No.11/2011/TT-NHNN as follows:
1. Supplementing and amending article 2 as follows:
“Article 2
” Credit institutions are not entitled to mobilize capital in gold, except for issuing short-term certificates in gold to pay gold on customers’ requirement when the amount of debt collection in gold and cash in vault is not sufficient for payment. The issuance of short-term gold certificates of credit organization will be terminated on November 25, 2012.
2. Amending and supplementing Article 3 (which was amended and supplemented by Circular No. 32/2011/TT-NHNN dated October 06, 2011 of the Governor of the State Bank of Vietnam) as follows: