|
THE
MINISTRY OF FINANCE
-------\
|
SOCIALIST REPUBLIC
OF VIET NAM
Independence -
Freedom - Happiness
------------
|
|
No:
100/2002/TT-BTC
|
Hanoi,
November 04, 2002
|
CIRCULAR
GUIDING THE
ADDITIONAL ALLOCATION OF CHARTER CAPITAL TO STATE-RUN COMMERCIAL BANKS
Pursuant to Decision No. 453/QD-TTg of June
14, 2002 on the issuance of Governments bonds for the additional allocation of
charter capital to State-run commercial banks in the 2002-2004 period and the
Governments Official Dispatch No. 36/CP-KTTH of July 15, 2002 on the plan to
additionally allocate charter capital to State-run commercial banks, the
Ministry of Finance hereby guides the implementation of a number of contents as
follows:
I. GENERAL PROVISIONS:
1. State-run commercial banks (hereafter
abbreviated to SCBs), which are entitled to the additional allocation of
charter capital in the 2002-2004 period under the Governments Official Dispatch
No. 36/CP-KTTH of July 15, 2002, include: The Foreign Trade Bank of Vietnam,
the Industrial and Commercial Bank of Vietnam, Vietnam Bank for Investment and
Development, Vietnam Bank for Agriculture and Rural Development, and the Mekong
River Delta Housing Development Bank.
2. Sources for the additional allocation of
charter capital shall comply with the provisions at Point 1.b of the
Governments Official Dispatch No. 36/CP-KTTH of July 15, 2002 on the plan to
additionally allocate charter capital to SCBs.
3. Special bonds mean the Governments bonds
issued in Vietnam
dong by mode of book-entry voucher for the additional allocation of charter
capital to SCBs under the Prime Ministers Decision No. 453/QD-TTg of June 14,
2002. Special bonds held by SCBs shall be considered their assets, which may be
used for pledge in their credit relations with the State Bank.
II. SPECIFIC PROVISIONS:
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
In order to be entitled to the additional
allocation of charter capital according to the time table already approved by
the Prime Minister, SCBs must meet the following conditions:
1.1. Strictly complying with the schedule on the
handling of outstanding debts under the scheme already approved by the State
Bank Governor.
1.2. Deploying the implementation of the scheme
on restructure of each SCB already approved by the Prime Minister strictly
according to the time table.
1.3. The percentage of overdue debts at the time
of reporting on debts arising from January 1, 2002 must be lower than 5%.
1.4. By the end of June, 2002, having thoroughly
handled problems left from the 2000 audit; by the end of December, 2002,
completing the 2001 independent audit and thoroughly handling problems left
from the 2001 audit; by the end of December, 2003, completing the 2002
independent audit and thoroughly handling problems left from the 2002 audit.
1.5. Quarterly (before the 10th day of the first
month of the subsequent quarter), banks must send their written reports on the
evaluation of tempo of implementation of the contents mentioned at Points 1.1
thru 1.4 to the Steering Committee for Financial Restructure of Commercial
Banks, the Ministry of Finance, the State Bank, and the Ministry of Planning
and Investment.
1.6. In cases where SCBs fail to fully meet the
conditions prescribed at Points 1.1 thru 1.5 above, the additional allocation
of charter capital shall be suspended until all the conditions are fully met.
2. Additional allocation of charter capital:
2.1. On the basis of the SCBs� reports on their
satisfaction of the conditions for being entitled to the additional allocation
of charter capital, and after coordinating with the State Bank and the Ministry
of Planning and Investment in expertising them, the Ministry of Finance shall
make decisions on the additional allocation of charter capital to the SCBs
which fully meet the prescribed conditions.
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
A book-entry voucher shall be made in two
copies: the first copy shall be archived at the Central State Treasury, and the
second copy shall be handed over to the bank entitled to the additional
allocation of charter capital.
3. Provisions on the management of special
bonds:
3.1. Within the first 5 years, SCBs shall not be
entitled to transfer special bonds. Past this timelimit, the Ministry of
Finance shall assume the prime responsibility and coordinate with the State
Bank in re-considering this stipulation and proposing their comments, then
report thereon to the Prime Minister for decision.
3.2. Pledge transactions of special bonds shall
be conducted only between SCBs and the State Bank. SCBs shall use the second
copy of the bond-monitoring book-entry voucher for pledge in their credit
relations with the State Bank.
3.3. Pledge procedures and volume of the pledged
special bonds shall comply with the State Bank�s regulations in accordance with
the administration of monetary policies by the State Bank in each period.
3.4. Monthly (before the 10th day of the
subsequent month), SCBs shall send their reports on special bond pledge
transactions in the month to the Ministry of Finance.
4. Settlement and cost-accounting of
additionally allocated charter capital:
4.1. When being additionally allocated with
charter capital, SCBs shall account the increase of charter capital and monitor
this amount in a separate sub-item.
4.2. Special bond interests shall be settled
once a year by the State budget on the date the special bonds are issued at the
Central State Treasury. The first settlement shall be 1 year as from the date
of issuance of special bonds.
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
III. IMPLEMENTATION ORGANIZATION:
This Circular takes implementation effect 15
days after its signing. Any problems arising in the course of implementation
should be reported to the Ministry of Finance for study, consideration and
settlement.
FOR THE MINISTER OF FINANCE
VICE MINISTER
Le Thi Bang Tam