SBV Regulates Post-supervision Processing for Credit Institutions

The State Bank of Vietnam (SBV) issued the Circular No. 10/2012/TT-NHNN stipulating post-supervision processing for credit institutions and foreign bank branches operating in Vietnam.

 

The Circular, consisting of four chapters and 17 articles, provides processing the implementation of supervisory conclusions; processing of administrative sanctions imposed on the violating credit institutions and foreign bank branches; and processing of the monitoring of credit institutions and foreign bank branches.

 

Special control imposed on credit institutions, revoking of licenses of credit institutions and foreign bank branches, and freezing of capital resources and assets of foreign bank branches should comply with SBV regulations and other relevant legal texts.

 

The Circular will take effect on May 30, 2012.