Draft Circular on the issuance of domestic deposit certificates by credit institutions and foreign bank branches

The State Bank of Vietnam issued a Draft Circular on the issuance of domestic deposit certificates by credit institutions and foreign bank branches. The Draft Circular includes 21 Articles, basically inheriting the contents of Circular No. 01/2021/TT-NHNN on the issuance of term notes, promissory notes, deposit certificates, domestic bonds by credit institutions, foreign bank branches dated March 31, 2021, and has the following main amendments:
- Regarding the scope of adjustment, the Draft Circular adjusts the activity of issuing domestic deposit certificates of credit institutions, foreign bank branches. The Draft Circular does not adjust the activity of issuing term notes, promissory notes, bonds. Accordingly, the bond issuance activity of credit institutions is uniformly implemented as the bond issuance activity of other enterprises on the securities market.
- The Draft Circular supplements regulations on the issuance of deposit certificates by electronic means to be compatible with the Electronic Transaction Law and the Law on Credit Institutions 2024 on electronic transactions in the operation of credit institutions, foreign bank branches.
- The Draft Circular supplements regulations on measures to look up information and measures to notify when there is a change in the information of the deposit certificate; public announcement, internal regulations… to ensure the issuance and payment of deposit certificates safely for the buyers of deposit certificates and safe operation for credit institutions, foreign bank branches