Headquarters of the State Bank of Vietnam .
Accordingly, amend Article 1 of Circular 39/2024/TT-NHNN in the direction of specific regulations on: decision-making authority in special control of credit institutions; special control period, extension of special control period, termination of special control; reduction of charter capital of commercial banks under special control,... approved by the State Bank of Vietnam for compulsory transfer plan; composition, number of members, structure, operating mechanism, tasks, powers of the Special Control Board; and responsibilities of relevant agencies, organizations, and individuals.
The Circular also supplements Article 7a regulating the reduction of charter capital of commercial banks under special control whose compulsory transfer plan is approved by the State Bank.
Accordingly, within 10 days from the date the compulsory transfer plan is approved as prescribed, the commercial bank under special control must complete the determination and submit to the Special Control Board the consolidated business performance results for the accounting period from the time of the most recent audited financial statement to the last day of the month immediately preceding the time of approval.
Within 20 days from the date of approval, the Special Control Board must determine and report to the State Bank (through the Department of Credit Institution Management and Supervision) the consolidated business performance results and propose to reduce the entire charter capital to reduce accumulated losses, if the credit institution has accumulated losses greater than 100% of the value of charter capital and reserve funds recorded in the most recent audited financial statements.
Based on the report and proposal of the Special Control Board, the State Bank will decide to reduce the charter capital in the Compulsory Transfer Decision.
In addition, Circular No. 07 also amends and supplements a number of contents in Article 10 of Circular 39/2024/TT-NHNN, stipulating that the Head of the Special Control Board of a credit institution is amended according to the new Circular and will include: department-level leaders or equivalent positions or higher of the Department of Credit Institution Management and Supervision and the State Bank Inspectorate; Chief Inspector, Supervisor, Deputy Chief Inspector, Supervisor or equivalent positions of the State Bank branch where the specially controlled credit institution has its head office; department-level leaders or equivalent positions or higher of the State Bank Inspectorate (if any) where the specially controlled credit institution has its head office,...
Source: https://baotuyenquang.com.vn/sua-doi-bo-sung-quy-dinh-ve-kiem-soat-dac-biet-doi-voi-to-chuc-tin-dung-213292.html
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