THE MINISTRY OF FINANCE
Circular No. 93/2013/TT-BTC dated July 08, 2013 of the Ministry of Finance guiding the financial regulations for the cooperative bank
Pursuant to the Law on Credit Institutions dated June 16, 2010;
Pursuant to the Law on Cooperatives dated November 20, 2012;
Pursuant to the Decree No. 118/2008/ND-CP, dated November 27, 2008 of the Government defining the functions, tasks, powers and organizational structure of the Ministry of Finance;
Pursuant to the Decree No. 57/2012/ND-CP, dated July 20, 2012 of the Government on the financial regulations applicable to credit institutions, branches of foreign banks;
At the proposal of the Director of Department of Finance of Banks and Financial Institutions;
The Minister of Finance promulgates the Circular guiding the financial regulations for the cooperative bank,
Chapter I
GENERAL PROVISIONS
Article 1. Scope of regulation
1. This Circular guides the financial regulation applicable to the cooperative bank.
2. Financial operations of the cooperative bank shall comply with the Decree No. 57/2012/ND-CP, dated July 20, 2012 of the Government on the financial regulations applicable to credit institutions, branches of foreign banks (hereinafter called the Decree No. 57/2012/ND-CP); content guided in this Circular and other relevant legal documents on financial management.
Article 2. Subjects of application
The cooperative bank (hereinafter called the bank) is established, organizes and operates in accordance with Law No. 47/2010/QH12 dated June 16, 2010 on Credit Institutions.
Chapter II
SPECIFIC PROVISIONS
Article 3. Equity
1. Charter capital, including:
a) Capital contributed from the member people’s credit funds.
b) Capital from support of state.
c) Capital contributed from other legal entities.
2. Differences due to the foreign exchange rate (if any) arising in the course of investment in unfinished fundamental construction accounted in the equity capital as prescribed by law.
3. Differences from re-evaluation of assets are differences between the book value of assets with the re-evaluated value of assets after having decision of State or when putting assets into contribution in share capital.
4. The reserve funds for charter capital addition, fund for investment in development of professional operations, the financial reserve fund.
5. Undistributed profit.
6. Other capital under ownership of bank.
Article 4. Use of capital and assets
1. Bank shall manage, use, monitor all assets and existing capital, perform the accounting in accordance with the current accounting regulation; reflect fully, exactly, timely the status of use and changes of capital and assets in trading; clearly defining responsibility and form of handling applicable to each division, individual in case of causing fault, loss of assets, capital of bank.
2. Bank may use the operational capital in serve of trading as prescribed in Law on Credit Institutions, Decree No. 57/2012/ND-CP and specific guides in this Circular under the principles of ensuring the capital safety and development.
a) During the course of business operation, bank must ensure to maintain limitation of investment in construction, procurement of fixed assets in direct serve of business operation in the principle: The remaining value of the fixed assets does not exceed 50% of the charter capital and preserve fund for charter fund addition.
b) For the holding real estate due to handling of debts, complying with Clause 3 Article 132 of the Law on Credit Institutions:
