SBV Requires Credit Institutions To Report Discounting And Rediscounting Of Negotiable Instruments And Valuable Papers

The State Bank of Vietnam (SBV) issued Document No.7370/NHNN-CSTT on September 21 to require credit institutions and foreign bank branches to make reports on discounting and rediscounting of negotiable instruments and valuable papers.
This requirement is to serve the formulation of a draft circular on discounting and rediscounting of negotiable instruments and valuable papers in line with the 2010 Law on Credit Institutions.
In addition, SBV requires credit institutions and foreign bank branches to report the problems they have faced in implementing Decision No. 63/2006/QD-NHNN dated December 29, 2006 on discounting and rediscounting of negotiable instruments by credit institutions for their clients, Decision No. 1325/2004/QD-NHNN dated October 15, 2004 (Regulation 1325) on discounting and re-discounting of valuable papers by credit institutions for their clients and Decision No. 17/2006 / QD-SB dated April 20, 2006 revising Articles 10 and 12 of Regulation 1325. In addition, credit institutions are encouraged to make suggestions (if any) on revising these regulations.”-Source:StoxPlus.com”

Tags: Credit institutions, discounting and rediscounting of negotiable instruments and valuable papers, SBV's requirement, Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by quynhdn on Sep 25 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry