1. LEGAL DOCUMENTS ARE EFFECTIVE FROM 01/10/2020

1.1. Circular No. 08/2020/TT-NHNN amending, supplementing to a number of articles of the Circular No.22/2019/TT-NHNN dated November 15, 2019 of the Governor of the State Bank of Vietnam limits and prudential ratios of banks and foreign bank branches

• Name of legal document: Circular No. 08/2020/TT-NHNN issued on 14/08/2020 by the Governor of the State Bank amending, supplementing to a number of articles of the Circular No.22/2019/TT-NHNN dated November 15, 2019 of the Governor of the State Bank of Vietnam limits and prudential ratios of banks and foreign bank branches (referred to as the “Circular No. 08/2020/TT-NHNN).

• Effective date: 01/10/2020.

The content should be noted: Amending and supplementing regulations on compliance with the maximum ratio of short-term capital for provision of medium-term and long-term loans according to the roadmap specified in Clause 5, Article 16 of Circular No. 22/2019/TT-NHNN dated November 15, 2019 of the Governor of the State Bank of Vietnam limits and prudential ratios of banks and foreign bank branches.

Specifically, Article 1 Circular No. 08/2020/TT-NHNN stipulates: “Article 1. Amending, supplementing to a number of articles of the Circular No.22/2019/TT-NHNN dated November 15, 2019 of the Governor of the State Bank of Vietnam limits and prudential ratios of banks and foreign bank branches

Clause 5 Article 16 is amended, supplemented as follow:

“5. Banks and / or foreign bank branches must comply with the maximum ratio of short-term capital for provision of medium-term and long-term loans according to the following roadmap:

a) From January 1, 2020 to the end of September 30, 2021: 40%;

b) From October 1, 2021 to the end of September 30, 2022: 37%;

c) From October 1, 2022 to the end of September 30, 2023: 34%;

d) From October 1, 2023: 30%.””

1.2. Decision No. 1729/QD-NHNN maximum interest rates of deposits in Vietnam dong of organizations and individuals at credit institutions and foreign bank branches according to Circular No. 07/2014/TT-NHNN dated March 17, 2014

• Name of legal document: Decision No. 1729/QD-NHNN issued on 30/09/2020 by the State Bank of Viet Nam maximum interest rates of deposits in Vietnam dong of organizations and individuals at credit institutions and foreign bank branches according to Circular No. 07/2014/TT-NHNN dated March 17, 2014 (referred to as the “Decision No. 1729/QD-NHNN”).

• Effective date: 01/10/2020.

Some contents should be noted:

• Firstly, stipulating maximum interest rates of deposits in Vietnam Dong of organizations (except credit institutions and foreign bank branches) and individuals at credit institutions and foreign bank branches according to Circular No. 07/2014/TT-NHNNdated March 17, 2014.

Specifically, Article 1 Decision No. 1729/QD-NHNN stipulates: “Article 1. Maximum interest rates of deposits in Vietnam Dong of organizations (except credit institutions and foreign bank branches) and individuals at credit institutions and foreign bank branches according to Circular No. 07/2014/TT-NHNN dated March 17, 2014 are as follows:

1. The maximum interest rate of demand deposits and deposits with term less than 1 month is 0.2%/year.

2. The maximum interest rate of deposits with a term from 1 month to less than 6 months is 4.0%/year; in particular, people’s credit funds and microfinance institutions shall adopt the maximum interest rate of 4.5%/year with respect to deposits with a term from 1 month to less than 6 months.”

• Secondly, Decision No. 1729/QD-NHNN supersedes the Decision No. 919/QD-NHNNdated May 12, 2020 of the Governor of the State Bank of Vietnam.

Specifically, Clause 1 Article 2 of Decision No. 1729/QD-NHNN stipulates: “Article 2. 

1. This Decision comes into force from October 01, 2020 and supersedes Decision No. 919/QD-NHNNdated May 12, 2020 of the Governor of the State Bank of Vietnam prescribing maximum interest rates of deposits in Vietnam Dong of organizations and individuals at credit institutions and foreign bank branches according to Circular No. 07/2014/TT-NHNN dated March 17, 2014.”

1.3.  Decision No. 1730/QD-NHNN prescribing maximum interest rates of short-term loans in Vietnam dong offered by credit institutions and foreign bank branches to customers to meet their demand of fund in certain economic sectors according to Circular No. 39/2016/TT-NHNN dated December 30, 2016

• Name of legal document: Decision No. 1730/QD-NHNN issued on 30/09/2020 by the State Bank of Viet Nam prescribing maximum interest rates of short-term loans in Vietnam dong offered by credit institutions and foreign bank branches to customers to meet their demand of fund in certain economic sectors according to Circular No. 39/2016/TT-NHNNdated December 30, 2016 (referred to as the “Decision No. 1730/QD-NHNN”).

• Effective date: 01/10/2020.

Some contents should be noted:

• Firstly, stipulating maximum interest rates of short-term loans in Vietnam Dong according to Clause 2 Article 13 of the Circular No. 39/2016/TT-NHNN dated December 30, 2016.

Specifically, Article 1 of Decision No. 920/QD-NHNN stipulates: “Article 1. Maximum interest rates of short-term loans in Vietnam Dong according to Clause 2 Article 13 of the Circular No. 39/2016/TT-NHNN dated December 30, 2016 are as follows:

1. Credit institutions and foreign bank branches (except people’s credit funds and microfinance institutions) shall offer short-term loans in Vietnam Dong with the maximum interest rate of 4.5%/year.

2. People’s credit funds and microfinance institutions shall offer short-term loans in Vietnam Dong with the maximum interest rate of 5.5%/year.”

• Secondly, Decision No. 1730/QD-NHNN supersedes Decision No. 920/QD-NHNNdated May 12, 2020 of the Governor of the State Bank of Vietnam.

Specifically, Clause 1 Article 2 of Decision No. 1730/QD-NHNN stipulates: “Article 2. 

1. This Decision comes into force from October 01, 2020 and supersedes Decision No. 920/QD-NHNN dated May 12, 2020 of the Governor of the State Bank of Vietnam prescribing maximum interest rates of short-term loans in Vietnam Dong offered by credit institutions and foreign bank branches to customers to meet their demand of fund in certain economic sectors according to Circular No. 39/2016/TT-NHNN dated December 30, 2016.”

1. LEGAL DOCUMENTS ARE ISSUED IN 08/2020

1.1. Decision No. 1349/QD-NHNN prescribing interest rates of required reserves and excess reserves of credit institutions and foreign bank branches at the State Bank of Vietnam

• Name of legal document: Decision No. 1349/QD-NHNN issued on 06/08/2020 by the State Bank of Viet Nam prescribing interest rates of required reserves and excess reserves of credit institutions and foreign bank branches at the State Bank of Vietnam (referred to as the “Decision No. 1349/QD-NHNN”).

• Effective date: 06/08/2020.

Some contents should be noted:

• Firstly, providing interest rates of required reserves and excess reserves deposited by credit institutions and foreign bank branches at the State Bank of Vietnam.

Specifically, Article 1 of Decision No. 1349/QD-NHNN stipulates: “Article 1. Interest rates of required reserves and excess reserves deposited by credit institutions and foreign bank branches at the State Bank of Vietnam are as follows:

1. The interest rate of required reserves deposited in Vietnam Dong: 0.5%/year.

2. The interest rate of required reserves deposited in foreign currency: 0%/year.

3. The interest rate of excess reserves deposited in Vietnam Dong: 0%/year.

4. The interest rate of excess reserves deposited in foreign currency: 0.05%/year.”

• Secondly, Decision No. 1349/QD-NHNN comes into force from August 06, 2020 and supersedes the Decision No. 421/QD-NHNNdated March 16, 2020 of the Governor of the State Bank of Vietnam.

Specifically, Article 2 of Decision No. 1349/QD-NHNN stipulates: “Article 2. This Decision comes into force from August 06, 2020 and supersedes the Decision No. 421/QD-NHNN dated March 16, 2020 of the Governor of the State Bank of Vietnam prescribing interest rates of required reserves and excess reserves deposited by credit institutions and foreign bank branches at the State Bank of Vietnam.”

1.2. Decision No. 1350/QD-NHNN prescribing interest rates of deposits in Vietnam dong made by Vietnam development bank, Vietnam bank for social policies, people’s credit funds and microfinance institutions at the State Bank of Vietnam

• Name of legal document: Decision No. 1350/QD-NHNN issued on 06/08/2020 by the State Bank of Viet Nam prescribing interest rates of deposits in Vietnam dong made by Vietnam development bank, Vietnam bank for social policies, people’s credit funds and microfinance institutions at the State Bank of Vietnam (referred to as the “Decision No. 1350/QD-NHNN”).

• Effective date: 06/08/2020.

Some contents should be noted:

• Firstly, providing interest rates of deposits in Vietnam Dong made by Vietnam Development Bank, Vietnam Bank for Social Policies, people’s credit funds and microfinance institutions at the State Bank of Vietnam.

Specifically, Article 1 of Decision No. 1350/QD-NHNN stipulates: “Article 1. Interest rates of deposits in Vietnam Dong made by Vietnam Development Bank, Vietnam Bank for Social Policies, people’s credit funds and microfinance institutions at the State Bank of Vietnam are as follows:

1. The interest rate of deposits made by Vietnam Development Bank: 0.8%/year.

2. The interest rate of deposits made by Vietnam Bank for Social Policies: 0.8%/year.

3. The interest rate of deposits made by people’s credit funds: 0.8%/year.

4. The interest rate of deposits made by microfinance institutions: 0.8%/year.”

• Secondly, Decision No. 1350/QD-NHNN comes into force from August 06, 2020 and supersedes the Decision No. 422/QD-NHNNdated March 16, 2020 of the Governor of the State Bank of Vietnam.

Specifically, Article 2 of Decision No. 1350/QD-NHNN stipulates: “Article 2. This Decision comes into force from August 06, 2020 and supersedes the Decision No. 422/QD-NHNN dated March 16, 2020 of the Governor of the State Bank of Vietnam prescribing interest rates of deposits in Vietnam Dong made by Vietnam Development Bank, Vietnam Bank for Social Policies, people’s credit funds and microfinance institutions at the State Bank of Vietnam.”

1.3.  Decision No. 1351/QD-NHNN prescribing interest rates of deposits made by state treasury and deposit insurance of Vietnam at the State Bank of Vietnam

• Name of legal document: Decision No. 1351/QD-NHNN issued on 06/08/2020 by the State Bank of Viet Nam prescribing interest rates of deposits made by state treasury and deposit insurance of Vietnam at the State Bank of Vietnam (referred to as the “Decision No. 1351/QD-NHNN”).

• Effective date: 06/08/2020.

Some contents should be noted:

·        Firstly, providing interest rates of deposits made by State Treasury and Deposit Insurance of Vietnam at the State Bank of Vietnam.

Specifically, Article 1 of Decision No. 1351/QD-NHNN stipulates: “Article 1. Interest rates of deposits made by State Treasury and Deposit Insurance of Vietnam at the State Bank of Vietnam are as follows:

1. The interest rate of deposits in Vietnam Dong made by State Treasury: 0.8%/year.

2. The interest rate of deposits in foreign currency made by the State Treasury: 0.05%/year.

3. The interest rate of deposits in Vietnam Dong made by Deposit Insurance of Vietnam: 0.8%/year.”

• Secondly, Decision 1351/QD-NHNN comes into force from August 06, 2020 and supersedes the Decision No. 423/QD-NHNN dated March 16, 2020 of the Governor of the State Bank of Vietnam.

Specifically, Article 2 of Decision No. 1351/QD-NHNN stipulates: “Article 2. This Decision comes into force from August 06, 2020 and supersedes the Decision No. 423/QD-NHNN dated March 16, 2020 of the Governor of the State Bank of Vietnam prescribing interest rates of deposits made by State Treasury and Deposit Insurance of Vietnam at the State Bank of Vietnam.”

1.4. Circular No. 08/2020/TT-NHNN amending, supplementing to a number of articles of the Circular No.22/2019/TT-NHNN dated November 15, 2019 of the Governor of the State Bank of Vietnam limits and prudential ratios of banks and foreign bank branches

• Name of legal document: Circular No. 08/2020/TT-NHNN issued on 14/08/2020 by the Governor of the State Bank amending, supplementing to a number of articles of the Circular No.22/2019/TT-NHNN dated November 15, 2019 of the Governor of the State Bank of Vietnam limits and prudential ratios of banks and foreign bank branches (referred to as the “Circular No. 08/2020/TT-NHNN).

• Effective date: 01/10/2020.

The content should be noted: Amending and supplementing regulations on compliance with the maximum ratio of short-term capital for provision of medium-term and long-term loans according to the roadmap specified in Clause 5, Article 16 of Circular No. 22/2019/TT-NHNN dated November 15, 2019 of the Governor of the State Bank of Vietnam limits and prudential ratios of banks and foreign bank branches.

Specifically, Article 1 Circular No. 08/2020/TT-NHNN stipulates: “Article 1. Amending, supplementing to a number of articles of the Circular No.22/2019/TT-NHNN dated November 15, 2019 of the Governor of the State Bank of Vietnam limits and prudential ratios of banks and foreign bank branches

Clause 5 Article 16 is amended, supplemented as follow:

“5. Banks and / or foreign bank branches must comply with the maximum ratio of short-term capital for provision of medium-term and long-term loans according to the following roadmap:

a) From January 1, 2020 to the end of September 30, 2021: 40%;

b) From October 1, 2021 to the end of September 30, 2022: 37%;

c) From October 1, 2022 to the end of September 30, 2023: 34%;

d) From October 1, 2023: 30%.””

1. LEGAL DOCUMENTS ARE ISSUED IN 07/2020

Official Letter No. 4923/TCHQ-TXNK regarding the selection of a commercial bank to be VAT refund agents for foreigners

• Name of legal document: Official Letter No. 4923/TCHQ-TXNK issued on 24/07/2020 by the General Department of Customs of the Ministry of Finance on regarding the selection of a commercial bank to be VAT refund agents for foreigners (referred to as the “Official Letter No. 4923/TCHQ-TXNK”).

• Effective date: 24/07/2020.

Some contents should be noted:

• Firstly, “General Department of Customs informs banks to know and request banks research to register as VAT refund agent for foreigners at Da Nang International Airport” and “Registration documents please send to the General Department of Customs before August 15, 2020”.

• Secondly, issuing an Appendix on the list of banks cooperating to collect, specifically:

“APPENDIX

LIST OF BANKS COOPERATING TO COLLECT
(Issued together with Official Letter No. 4923/TCHQ-TXNK dated July 24, 2020 of the General Department of Customs)

”

1. LEGAL DOCUMENTS ARE ISSUED IN 06/2020

Decision No. 1121/QD-NHNN on the amendment of the Circular No. 52/2018/TT-NHNN dated December 31, 2018 of the Governor of the State Bank of Vietnam prescribing credit rating of credit institutions and foreign bank branches

• Name of legal document: Decision No. 1121/QD-NHNN issued on 22/06/2020 by the State Bank of Viet Nam on the amendment of the Circular No. 52/2018/TT-NHNN dated December 31, 2018 of the Governor of the State Bank of Vietnam prescribing credit rating of credit institutions and foreign bank branches (referred to as the “Decision No. 1121/QD-NHNN”).

• Effective date: 22/06/2020.

Some contents should be noted:

• Firstly, correcting the phrase “The higher the value of a quantitative indicator, the higher the risk level”.

Specifically, Clause 2 Article 1 of Circular No. 52/2018/TT-NHNN stipulates: “Article 1. Correction of a number of technical errors prescribed in the Circular No. 52/2018/TT-NHNN dated December 31, 2018 of the Governor of the State Bank of Vietnam regulating the classification of credit institutions and bank branches are as follows:

…

2. Article 14:

At ordinal number 2.5 The Table of Scoring benchmarks for specific quantitative indicators, correcting the phrase “The higher the value of a quantitative indicator, the higher the risk level” to “The higher the value of a quantitative indicator, the lower the risk level”.”

• Secondly, correcting technical errors in Article 16 of Circular No. 52/2018/TT-NHNN.

Specifically, Clause 2 Article 1 of Circular No. 52/2018/TT-NHNN stipulates: “Article 1. Correction of a number of technical errors prescribed in the Circular No. 52/2018/TT-NHNN dated December 31, 2018 of the Governor of the State Bank of Vietnam regulating the classification of credit institutions and bank branches are as follows:

…

3. In Article 16 of Circular 52 printed:

“3. In case where credit institutions or foreign bank branches have yet to be or are not subject to…”

Now revised to: “4. In case where credit institutions or foreign bank branches have yet to be or are not subject to…””

1. LEGAL DOCUMENTS ARE EFFECTIVE FROM 01/06/2020

Circular No. 28/2020/TT-BTC annulling a number of legal documents issued by the Minister of Finance in the fields of securities, insurance business and banking finance

• Name of legal document: Circular No. 28/2020/TT-BTC issued on 17/04/2020 by the Minister of Finance annulling a number of legal documents issued by the Minister of Finance in the fields of securities, insurance business and banking finance (referred to as the “Circular No. 33/2020/TT-BTC”).

• Effective date: 02/06/2020.

The content should be noted: Annulling a number of legal documents promulgated by the Minister of Finance in the field of banking finance.

Specifically, Article 3 of Circular No. 28/2020/TT-BTC stipulates: “Article 3. Annulling all contents of 02 legal documents issued by the Minister of Finance in the field of banking and finance, as follow:

1. Circular No. 105/2007/TT-BTC on August 30, 2007 of the Ministry of Finance guiding on handling of risk for investment credit capital and export credit of the State.

2. Circular No. 35/2012/TT-BTC on March 2, 2012 of the Ministry of Finance guiding a number of articles of Decree No. 75/2011/ND-CP on August 30, 2011 of the Government on the investment credit and export credit of State.”

2. LEGAL DOCUMENTS ARE ISSUED IN 05/2020

2.1. Decision No. 918/QD-NHNN refinancing interest rate, re-discount interest rate, interest rate on overnight loans in interbank electronic payment and loans for making up fund deficits in clearing payment given to banks by the Sate Bank of Vietnam 

• Name of legal document: Decision No. 918/QD-NHNN issued on 12/05/2020 by the State Bank of Viet Nam refinancing interest rate, re-discount interest rate, interest rate on overnight loans in interbank electronic payment and loans for making up fund deficits in clearing payment given to banks by the Sate Bank of Vietnam  (referred to as the “Decision No. 918/QD-NHNN”).

• Effective date: 13/05/2020.

Some contents should be noted:

• Firstly, stipulating the interest rates are adopted by the State Bank of Vietnam.

Specifically, Article 1 of Decision No. 918/QD-NHNN stipulates: “Article 1. The following interest rates are adopted by the State Bank of Vietnam, including:

1. Refinancing interest rate:  4.5%/year.

2. Re-discount interest rate: 3.0%/year.

3. Interest rate on overnight loans in interbank electronic payment and loans for making up fund deficits in clearing payment given to banks by the state bank of Vietnam: 5.5%/year.”

• Secondly, Decision No. 918/QD-NHNN supersedes the Decision No. 418/QD-NHNNdated March 16, 2020 by of the Governor of the State Bank of Vietnam.

Specifically, Article 2 of Decision No. 918/QD-NHNN stipulates: “Article 2. This Decision comes into force from May 13, 2020 and supersedes the Decision No. 418/QD-NHNN dated March 16, 2020 by of the Governor of the State Bank of Vietnam on refinancing interest rate, re-discount interest rate, interest rate on overnight loans in interbank electronic payment and loans for making up fund deficits in clearing payment given to banks by the State Bank of Vietnam.”

2.2. Decision No. 919/QD-NHNN maximum interest rates of deposits in Vietnam dong of organizations and individuals at credit institutions and foreign bank branches according to Circular No. 07/2014/TT-NHNN dated March 17, 2014

• Name of legal document: Decision No. 919/QD-NHNN issued on 12/05/2020 by the State Bank of Viet Nam maximum interest rates of deposits in Vietnam dong of organizations and individuals at credit institutions and foreign bank branches according to Circular No. 07/2014/TT-NHNN dated March 17, 2014  (referred to as the “Decision No. 919/QD-NHNN”).

• Effective date: 13/05/2020.

Some contents should be noted:

• Firstly, stipulating maximum interest rates of deposits in Vietnam Dong of organizations (except credit institutions and foreign bank branches) and individuals at credit institutions and foreign bank branches according to Circular No. 07/2014/TT-NHNNdated March 17, 2014.

Specifically, Article 1 Decision No. 919/QD-NHNN stipulates: “Article 1. Maximum interest rates of deposits in Vietnam Dong of organizations (except credit institutions and foreign bank branches) and individuals at credit institutions and foreign bank branches according to Circular No. 07/2014/TT-NHNN dated March 17, 2014 are as follows:

1. The maximum interest rate of demand deposits and deposits with term less than 1 month is 0.2%/year.

2. The maximum interest rate of deposits with a term from 1 month to less than 6 months is 4.25%/year; in particular, people’s credit funds and microfinance institutions shall adopt the maximum interest rate of 4.75%/year with respect to deposits with a term from 1 month to less than 6 months.”

• Secondly, Decision No. 919/QD-NHNN supersedes the Decision No. 419/QD-NHNNdated March 16, 2020 of the Governor of the State Bank of Vietnam.

Specifically, Clause 1 Article 2 of Decision No. 919/QD-NHNN stipulates: “Article 2. 

1. This Decision comes into force from May 13, 2020 and supersedes Decision No. 419/QD-NHNNdated March 16, 2020 of the Governor of the State Bank of Vietnam prescribing maximum interest rates of deposits in Vietnam Dong of organizations and individuals at credit institutions and foreign bank branches according to Circular No. 07/2014/TT-NHNN dated March 17, 2014.”

2.3. Decision No. 920/QD-NHNN prescribing maximum interest rates of short-term loans in vietnam dong offered by credit institutions and foreign bank branches to customers to meet their demand of fund in certain economic sectors according to Circular No. 39/2016/TT-NHNN dated December 30, 2016

• Name of legal document: Decision No. 920/QD-NHNN issued on 12/05/2020 by the State Bank of Viet Nam prescribing maximum interest rates of short-term loans in vietnam dong offered by credit institutions and foreign bank branches to customers to meet their demand of fund in certain economic sectors according to Circular No. 39/2016/TT-NHNNdated december 30, 2016  (referred to as the “Decision No. 920/QD-NHNN”).

• Effective date: 13/05/2020.

Some contents should be noted:

• Firstly, stipulating maximum interest rates of short-term loans in Vietnam Dong according to Clause 2 Article 13 of the Circular No. 39/2016/TT-NHNN dated December 30, 2016.

Specifically, Article 1 of Decision No. 920/QD-NHNN stipulates: “Article 1. Maximum interest rates of short-term loans in Vietnam Dong according to Clause 2 Article 13 of the Circular No. 39/2016/TT-NHNN dated December 30, 2016 are as follows:

1. Credit institutions and foreign bank branches (except people’s credit funds and microfinance institutions) shall offer short-term loans in Vietnam Dong with the maximum interest rate of 5.0%/year.

2. People’s credit funds and microfinance institutions shall offer short-term loans in Vietnam Dong with the maximum interest rate of 6.0%/year.”

• Secondly, Decision No. 920/QD-NHNN supersedes Decision No. 420/QD-NHNNdated March 16, 2020 of the Governor of the State Bank of Vietnam.

Specifically, Clause 1 Article 2 of Decision No. 920/QD-NHNN stipulates: “Article 2. 

1. This Decision comes into force from May 13, 2020 and supersedes Decision No. 420/QD-NHNN dated March 16, 2020 of the Governor of the State Bank of Vietnam prescribing maximum interest rates of short-term loans in Vietnam Dong offered by credit institutions and foreign bank branches to customers to meet their demand of fund in certain economic sectors according to Circular No. 39/2016/TT-NHNN dated December 30, 2016.”

1. LEGAL DOCUMENTS ARE EFFECTIVE FROM 01/05/2020

1.1. Circular No. 27/2019/TT-NHNN amending and supplementing a number of articles of Circular No. 35/2014/TT-NHNN dated on November 20, 2014 of the Governor of the State Bank of Vietnam prescribing the fee for cash withdrawal via payment accounts at the State Bank Vietnam

• Name of legal document: Circular No. 27/2019/TT-NHNN issued on 25/12/2019 by the State Bank of Viet Nam amending and supplementing a number of articles of Circular No. 35/2014/TT-NHNN dated on November 20, 2014 of the Governor of the State Bank of Vietnam prescribing the fee for cash withdrawal via payment accounts at the State Bank Vietnam (referred to as the “Circular No. 27/2019/TT-NHNN”).

• Effective date: 01/05/2020.

Some contents should be noted:

• Firstly, amending and supplementing the regulation on cash withdrawal fee at the State Bank.

Specifically, Clause 1 Article 1 stipulates: “Article 1. Amending and supplementing a number of articles of the Regulation on the grant, use and management of the code bank card issuer code issued together with Decision No. 38/2007/QD-NHNN dated October 30th, 2007 of the Governor of the State Bank of Vietnam

1. Article 3 is amended and supplemented as follows:

“Article 3. Cash withdrawal fee at the State Bank

1. Credit institutions, branches of foreign banks are exempted from cash withdrawal in the month when the value of cash withdrawn via payment accounts is less than or equal to cash value which is not eligible for circulation are submitted to the State Bank where the account is opened.
   

2. Credit institutions, branches of foreign bank shall pay a fee of 0.005% of the positive difference in the month between the value of cash withdrawn via payment accounts minus the value of cash value which is not eligible for circulation are submitted to the State Bank where the account is opened.””

• Secondly, amending and supplementing the regulation on cash withdrawal fee at the State Bank.

Specifically, Clause 2 Article 1 stipulates: “Article 1. Amending and supplementing a number of articles of the Regulation on the grant, use and management of the code bank card issuers code issued together with Decision No. 38/2007/QD-NHNN dated October 30th, 2007 of the Governor of the State Bank of Vietnam

…

“2. To add Article 3a as follows:

Article 3a. Methods of collecting cash withdrawal fee

Every month, after calculating and collecting the cash withdrawal fee of credit institutions, foreign bank branches, Operation Centers, State Bank branches in centrally-affiliated cities and provinces, based on based on the receipts under the charge list is in the Appendix to this Circular, the accounting of cash withdrawal fee is in accordance with the provisions of the accounting account system issued in Circular No. 19/2015/TT-NHNN of October, 22nd, 2015 regulating the accounting system of the State Bank of Vietnam and the Operating Manual of the core banking system, budget accounting and system integration”.”

1.2. Circular No. 33/2020/TT-BTC regulating on the level of collection and payment of the fee for granting the establishment and operation of banks, non-bank credit institutions

• Name of legal document: Circular No. 33/2020/TT-BTC issued on 05/05/2020 by the Ministry of Finance regulating on the level of collection and payment of the fee for granting the establishment and operation of banks, non-bank credit institutions (referred to as the “Circular No. 33/2020/TT-BTC”).

• Effective date: 05/05/2020.

The content should be noted: providing on the level of collection and payment of the fee for granting the establishment and operation of banks, non-bank credit institutions.

Specifically, Article 1 of Circular No. 33/2020/TT-BTC stipulates: “Article 1. Levels of collection and payment of fees for granting establishment and operation licenses to banks and non-bank credit institutions

Organizations that are granted the license of establishment and operation of bank, the license of establishment and operation license of a non-bank credit institution by a competent state agency shall pay the following fees:

1. From May 5, 2020 to the end of December 31, 2020, pay the fee equal to 50% of the fee rate prescribed at Points a and b, Section 1 of the Table of fee rates in Clause 1, Article 4 of Circular No. 150/2016/TT-BTC dated on October 14, 2016 of the Minister of Finance stipulating the level, regime of collection, payment of fees for granting establishment and operation licenses of credit institutions; licenses for establishment of foreign bank branches, representative offices of foreign credit institutions and other foreign organizations engaged in banking activities; license for providing intermediary payment services for non-bank organizations (hereinafter referred to as Circular No. 150/2016/TT-BTC).

During the effective time of this Circular, no fee for the establishment and operation license of banks and non-bank credit institutions must be paid at the level specified in Clause 1, Article 4 of Circular No. 150/2016/TT-BTC.

2. From January 1, 2021 onwards, pay the fee for the establishment and operation license of banks and non-bank credit institutions according to the levels prescribed in Clause 1, Article 4 of Circular No. 150/2016/TT-BTC.”

2. LEGAL DOCUMENTS ARE ISSUED IN 04/2020

2.1. Circular No. 28/2020/TT-BTC annulling a number of legal documents issued by the Minister of Finance in the fields of securities, insurance business and banking finance

• Name of legal document: Circular No. 28/2020/TT-BTC issued on 17/04/2020 by the Minister of Finance annulling a number of legal documents issued by the Minister of Finance in the fields of securities, insurance business and banking finance (referred to as the “Circular No. 33/2020/TT-BTC”).

• Effective date: 02/06/2020.

The content should be noted: Annulling a number of legal documents promulgated by the Minister of Finance in the field of banking finance.

Specifically, Article 3 of Circular No. 28/2020/TT-BTC stipulates: “Article 3. Annulling all contents of 02 legal documents issued by the Minister of Finance in the field of banking and finance, as follow:

1. Circular No. 105/2007/TT-BTC on August 30, 2007 of the Ministry of Finance guiding on handling of risk for investment credit capital and export credit of the State.

2. Circular No. 35/2012/TT-BTC on March 2, 2012 of the Ministry of Finance guiding a number of articles of Decree No. 75/2011/ND-CP on August 30, 2011 of the Government on the investment credit and export credit of State.”

2.2. Consolidated Document No. 07/VBHN-NHNN promulgating the Fee Schedule for payment services via the State Bank of Viet Nam

• Name of legal document: Consolidated Document No. 07/VBHN-NHNN issued on 07/04/2020 by the State Bank of Viet Nam promulgating the Fee Schedule for payment services via the State Bank of Viet Nam (referred to as the “Consolidated Document No. 07/VBHN-NHNN”).

• Issuing date: 07/04/2020.

The contents should be noted: Consolidated Document No. 07/VBHN-NHNN consolidates the provisions of the following documents:

• Circular No. 26/2013/TT-NHNN dated December 5, 2013 of the Governor of the State Bank of Vietnam promulgating the tariff of charges for payment services offered via the state bank of Viet Nam, effective from April 1, 2014;

• Circular No. 33/2018/TT-NHNN dated December 21, 2018 of the Governor of the State Bank of Viet Nam amending and supplementing a number of articles of Circular No. 26/2013/TT-NHNN dated December 5, 2013 of the Governor of the State Bank of Vietnam promulgating the tariff of charges for payment services offered via the state bank of Viet Nam, effective from November 1, 2019; and

Circular No. 04/2020/TT-NHNN dated March 31, 2020 of the Governor of the State Bank of Viet Nam amending and supplementing a number of articles of Circular No. 26/2013/TT-NHNN dated December 5, 2013 of the Governor of the State Bank of Vietnam promulgating the tariff of charges for payment services offered via the state bank of Viet Nam, effective from April 1, 2020.