VIETNAM - Central Bank to Amend Regulation on Debt Trading
2 posters
VIETNAM - Central Bank to Amend Regulation on Debt Trading
by lexie Wed Nov 23, 2011 4:42 pm
November 23, 2011
Central Bank to Amend Regulation on Debt Trading
The State Bank of Vietnam (SBV) on Nov 22 publicized the draft of a new circular on debts trading by credit institutions developed by the central bank’s Credit Department to replace the out-dated Circular No. 59/2006/QD-NHNN.
The new regulation is expected to overcome the insufficiencies in the legal framework for debt trading activities in the local market and to enhance the responsibilities of involving parties.
Specifically, debt trading must not be carried out in case debt sellers are in dispute, the draft circular stipulated, emphasizing that debts purchasers will be considered as the lender of the sellers.
Credit institutions and branches of foreign banks will have to account for the purchased debts in their outstanding credits and are required to set aside sufficient provision for purchased recourse debts, the new draft regulation regulated, adding that the price of debts in category 1 (pass) shall not be lower than the debt value.
The draft circular added that branches of foreign banks are not allowed to purchase debts that credit institutions issued to non-residents in the international market. Debt purchasers licensed for foreign exchange trading are allowed to purchase debts in foreign currency.
http://www.vietfinancenews.com/2011/11/central-bank-to-amend-regulation-on.html
Central Bank to Amend Regulation on Debt Trading
The State Bank of Vietnam (SBV) on Nov 22 publicized the draft of a new circular on debts trading by credit institutions developed by the central bank’s Credit Department to replace the out-dated Circular No. 59/2006/QD-NHNN.
The new regulation is expected to overcome the insufficiencies in the legal framework for debt trading activities in the local market and to enhance the responsibilities of involving parties.
Specifically, debt trading must not be carried out in case debt sellers are in dispute, the draft circular stipulated, emphasizing that debts purchasers will be considered as the lender of the sellers.
Credit institutions and branches of foreign banks will have to account for the purchased debts in their outstanding credits and are required to set aside sufficient provision for purchased recourse debts, the new draft regulation regulated, adding that the price of debts in category 1 (pass) shall not be lower than the debt value.
The draft circular added that branches of foreign banks are not allowed to purchase debts that credit institutions issued to non-residents in the international market. Debt purchasers licensed for foreign exchange trading are allowed to purchase debts in foreign currency.
http://www.vietfinancenews.com/2011/11/central-bank-to-amend-regulation-on.html
*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie- Elite Member
- Posts : 1812
Join date : 2011-06-24 
Re: VIETNAM - Central Bank to Amend Regulation on Debt Trading
by HezekiaH Thu Nov 24, 2011 1:15 pm
Iexie
Thanks for your faithfulness in providing this info day after day after day.Your efforts sure make it easy for me to stay up to date on the Vietnam funds.
Thanks for your faithfulness in providing this info day after day after day.Your efforts sure make it easy for me to stay up to date on the Vietnam funds.
*****************
Wealth is what you have when all your money is gone!!!
HezekiaH- VIP Member
- Posts : 1651
Join date : 2011-06-17
Location : Earth -
Re: VIETNAM - Central Bank to Amend Regulation on Debt Trading
by lexie Thu Nov 24, 2011 4:18 pm
HezekiaH wrote:Iexie
Thanks for your faithfulness in providing this info day after day after day.Your efforts sure make it easy for me to stay up to date on the Vietnam funds.
You're very welcome,happy to help!!
*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie- Elite Member
- Posts : 1812
Join date : 2011-06-24 -
Similar topics» Vietnam central bank says bad debt 8.6pc at end March
» Vietnam - Central bank to tighten management over gold trading
» Vietnam bad debt, credit risk rising, central bank governor says
» Vietnam bank earnings may drop on central bank’s new rate order
» Central Bank devalues dong, widens trading band
» Vietnam - Central bank to tighten management over gold trading
» Vietnam bad debt, credit risk rising, central bank governor says
» Vietnam bank earnings may drop on central bank’s new rate order
» Central Bank devalues dong, widens trading band
Permissions in this forum:
You can reply to topics in this forum
» Wiley Morgan of Gen64 on Skype Chat Friday Night ~ Updated 6/10
» Mahmoud Dagher explains the economic feasibility of removing zeros from the local currency
» Al-Rasheed Bank announces the removal of its name from the list of international sanctions of the Charter of the United Nations
» The United States allocated 140$ million to support Iraq
» USD/IQD exchange rates climb in Baghdad
» NOPEC Law
» Turkish lira weakens to 15.16 against dollar
» Here's my guess
» Tony and Twitter
» Hamza Al-Jawahiri to / NINA /: The survival of quotas and consensus will not achieve any sustainable development for the national economy / expanded
» The appearance of Muhammad Salih to / Nina /: This is how the surplus oil revenues are disposed of
» USD closes slightly higher in Baghdad on Sunday
» The Central Bank of Iraq 75 years in the face of economic challenges
» (Budget Reserve) may see the light next Wednesday
» Al-Kazemi's advisor puts forward a proposal to double growth rates
» VOTE -- Who Is The Worst Dinarland INTEL Provider Today?
» “Dedicated to Service” on Instagram
» Rehabilitation of the Church of the Virgin Mary in the province of Basra within the Tamkeen project for community initiatives
» Can We Do Without The Commentary!
» 95% of Iraqi revenues still come from oil
» CBI foreign currency sales hike in April
» Where does the excess oil price differentials go?
» Introducing myself...
» Amer Al-Jawahiri to / Nina /: Improving economic activities in the local market is more stable than deleting confusing zeros
» Iraq's oil generates more than 10 billion dollars in one month
» USD/IQD exchange rates inched up in Baghdad
» Becky McGee/Oootah - "Wanted: Attorney and/or Lawyer!" 3/10/19
» Exchange rate game in Iraq: how speculators grossed millions of dollars in 48 hours scheme
» Holly: "Remember we are not in the know of all that goes on behind the scenes" (More Guessing Games...Just What Everybody Needs! LOL) 7/13/21
» RV INTEL BY TEXAS SNAKE, BOB LOCK AND ED OCALA (Three Blind Mice? LOL) 12/8/21
» Technical Adviser to the Prime Minister: The positive effects of changing the exchange rate will be felt more after 3 years
» An economist stresses the need to invest surplus money from oil revenues in profitable projects
» CBI sells +212$ million in the forex auction on Monday
» USD/IQD exchange rates drop in Baghdad
» Outdated laws are a major economic challenge for the next government, Allawi says
» (Initial agreement) to reduce the amount of the emergency support law to 23 trillion dinars
» Planning announces a rise in the monthly and annual inflation rate in Iraq
» Minister of Finance: The financial situation is very good and an upcoming meeting with the International Monetary Fund and the World Bank is in Baghdad
» Mazhar Muhammad Salih: The Central Bank's balance is three times more than the government's external debt