|
THE
GOVERNMENT
---------
|
SOCIALIST
REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
----------
|
|
No.
68/2013/ND-CP
|
Hanoi, June
28, 2013
|
DECREE
DETAILING
AND GUIDING IMPLEMENTATION OF THE LAW ON DEPOSIT INSURANCE
Pursuant to the Law on Government organization
date December 25, 2001;
Pursuant to the Law on deposit insurance dated
June 18, 2012;
At the proposal of the Governor of the State
bank of Vietnam,
The Government promulgates the Decree detailing
and guiding implementation of the Law on deposit insurance.
Chapter 1.
GENERAL PROVISIONS
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
This Decree details and guides implementation of
the Law on deposit insurance.
Article 2. Subjects of
application
This Decree applies to deposit insurers,
organizations engaging in deposit insurance, persons who are insured deposit
and other organizations and individuals involving deposit insurance operation.
Article 3. Deposit insurers
1. The deposit insurers are the State-run financial
organizations which are established and defined functions and tasks by the
Prime Minister at the request of the Governor of the State bank of Vietnam.
2. The deposit insurers are the State-run financial
organizations which operate for non-profit purposes, ensure capital safety and
cover their expenses with their own revenues. Revenues of the deposit insurers
are exempted from tax payment of all kinds.
3. The deposit insurers are entitled to deduct
partly their revenues from investment of temporarily idle capital for offsetting
expenses The Ministry of Finance shall assume the prime responsibility for, and
coordinate with the State bank of Vietnam in defining the specific deduction
level.
Article 4. Organizations
engaging in deposit insurance
1. Organizations engaging in deposit insurance are
credit institutions, foreign banks’ branches which receive deposit of
individuals, including commercial banks, cooperative banks, People’s credit
funds and foreign banks’ branches established and operating in accordance with
law on credit institutions.
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
3. Policy banks do not have to engage in deposit
insurance.
Article 5. Engaging in deposit
insurance
Credit institutions and foreign banks’ branches as
prescribed in Article 4 of this Decree must engage in deposit insurance and
list publicly copy of certificate of engaging in deposit insurance at their
head offices, branches and trading offices where receive deposits of
individuals.
Chapter 2.
DEPOSIT INSURANCE
OPERATION
Article 6. Grant of certificcte
of engaging in deposit insurance
1. Within 15 (fifteen) days before the beginning
day of operation, organizations engaging in deposit insurance must submit full
dossier requesting for grant of certificate of engaging in deposit insurance as
prescribed in clause 3 Article 14 of Law on deposit insurance to deposit
insurers.
2. Within 05 (five) working days, after receiving
full dossier requesting for grant of certificate of engaging in deposit
insurance, deposit insurers are responsible for grant of certificate of
engaging in deposit insurance.
Article 7. Re-grant of
certificate of engaging in deposit insurance
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
2. Certificates of engaging in deposit insurance
which are lost, torn or damaged may be re-granted within 05 (five) working
days, after receiving application for re-grant of certificate of engaging in
deposit insurance of organizations engaging in deposit insurance.
3. Organizations engaging in deposit insurance will
be re-granted certificate of engaging in deposit insurance in case there is
change of information in certificate of engaging in deposit insurance. Within
05 (five) working days, after receiving application for re-grant of certificate
of engaging in deposit insurance and copy of document proving change of
information of organization engaging in deposit insurance, deposit insurers are
responsible for re-grant of certificate of engaging in deposit insurance.
Article 8. Principle of
information provision between the State bank of Vietnam and deposit insurers
1. To ensure truthfulness, objectiveness,
timeliness and fullness as prescribed.
2. Organizations which are supplied information are
responsible for management, use and keeping confidentiality of information in
accordance with law.
3. The provision of information under the list of
state secret shall comply with law on state’s secret protection.
Article 9. Information
provision of the deposit insurers to the State bank of Vietnam
1. The deposit insurers shall report the State bank
of Vietnam about information as prescribed in clause 1 Article 33 of Law on
deposit insurance.
2. When implement tasks specified in clause 10
Article 13 of Law on deposit insurance, deposit insurers are responsible for
reporting timely to the State bank of Vietnam in case:
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
b) Operation of the organizations engaging in
deposit insurance have risk of leading to losing affordability, loss of assets
or negative impacts to other credit institutions.
Article 10. Information
provision of the State bank of Vietnam to the deposit insurers
1. The deposit insurers are allowed to access
information data of the State bank of Vietnam about organizations engaging in
deposit insurance for implementing tasks as prescribed in Article 13 of the Law
on deposit insurance.
2. Information allowed to access from information
data of the State bank is specified as follows:
a) Some report norms under the report and
statistical regime of the State bank of Vietnam;
b) Financial statement of organizations engaging in
deposit insurance;
c) Information about grant of permit, withdrawal of
permit for establishment and operation of credit institutions, permit for
establishment of foreign banks’ branches; information about temporary
suspension of receiving deposit applicable to organizations engaging in deposit
insurance;
d) Information about division, separation,
consolidation, merger, dissolution, bankruptcy of organizations engaging in
deposit insurance;
dd) Information about special control of
organizations engaging in deposit insurance as prescribed by law on special
control applicable to credit institutions;
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
3. The State bank of Vietnam shall guide
specifically about content of information and method of accessing to
information of the deposit insurers.
Article 11. Financial support
for the deposit insurers in case where capital sources of the deposit insurers
are not enough to pay insurance amount
1. In case where capital sources of deposit
insurers temporary is not enough to pay insurance amount, the deposit insurers
may be received support according to the refundable principle from the State
budget under decision of the Prime Minister or permitted to borrow with
guarantee of Government from credit institutions or other organizations.
2. Dossier of request for financial support:
The deposit insurers send 01 set of dossier
including the following documents to the State bank of Vietnam:
a) Written request for support from the State
budget or request for Goverment's guarantee in order to borrow from credit
institutions or other organizations signed by competent person of deposit
insurer, in which clearly state the amounts need be supported from the State
budget, or need be guaranteed by the Government for loans from credit
institutions or other organizations; support duration from the State budget or
duration of loan guarantee and other necessary contents;
b) Plan on paying insurance amount to the insured
persons;
c) Plans on refund of capital sources supported
from the State budget or refund of loans from credit institutions or other
organizations;
d) Other relevant documents (if any).
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
Article 12. Authorization for
insurance payment
1. The deposit insurers may authorize organizations
engaging in deposit insurance to pay the insurance amount to the
insured-deposit persons. The authorization must be adopted by authorization
contract of insurance payment in accordance with law.
2. Content of authorization contract must clearly
state liability of organizations engaging in deposit insurance in use of amount
transferred by the deposit insurers for payment on time, with right quantity,
and to right objects enjoyed insurance amount.
3. Organizations engaging in deposit insurance
which are authorized by the deposit insurers in payment of insurance amount
must satisfy conditions:
a) To abide by limitations for safety assurance in
operation of credit institutions within a minimum 6-month duration before time
of insurance payment;
b) To have a network for payment of insurance
amount located in suitable places.
Article 13. Receipt of
insurance amount
When receiving insurance amount, the
deposit-insured person must present ID card or passport. If the receiver is
authorized persons or heir of the deposit-insured person, apart from presenting
ID card or passport, the receiver must present documentary evidence on legal
status of authorized persons or heir of the deposit-insured person in
accordance with law.
In case of saving deposit, the deposit-insured
person must present saving card.
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
Article 14. Participation in
management, liquidation of assets and recovery of payable insurance amount
1. The deposit insurers shall participate in
management, liquidation of assets and recovery of payable insurance amount in
the course of handling assets of organizations engaging in deposit insurance
being credit institutions in accordance with law on bankruptcy applicable to
credit institutions.
2. The deposit insurers shall participate in
management, liquidation of assets and recovery of payable insurance amount in
the course of handling assets of organizations engaging in deposit insurance
being foreign banks’ branches in accordance with regulation of the State bank
of Vietnam on withdrawal of permit and asset liquidation of foreign banks’
branches.
Chapter 3.
STATE MANAGEMENT ON
DEPOSIT INSURANCE
Article 15. State management
agencies on deposit insurance
1. The Government implements unified state
management on deposit insurance.
2. The State bank of Vietnam:
a) To submit to the Prime Minister for approval of
charters, amendment and supplementation of charters of the deposit insurers,
appointment, re-appointment, dismissal, acceptance of resigning, commend and
reward, or discipline involving chairperson of Board of Directors of the
deposit insurers;
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
Article 16. Responsibilities
of the Ministry of Finance
1. To assume the prime responsibility for, and
coordinate with the State bank of Vietnam in elaborating, promulgating
financial regime of deposit insurers.
2. To guide, examine, inspect implementation of
financial regime of deposit insurers.
Article 17. Responsibilities
of the Ministry of Labor, War Invalids and Social Affairs
To guide, examine, inspect implementation of
policies, regimes on labor and wage of the deposit insurers.
Article 18. Responsibilities
of relevant Ministries and Ministerial-level agencies
Ministries and Ministerial agencies shall, within
their tasks and powers, coordinate with the State bank of Vietnam in state
management on deposit insurance.
Article 19. Responsibilities
of People’s Committees at all levels
People’s Committees at all levels shall, with their
tasks and powers, coordinate with state management agencies in implementing
state management on deposit insurance in localities.
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
IMPLEMENTATION
PROVISIONS
Article 20. Transitional
provisions
Certificates of deposit insurance which are granted
before the effective day of this Decree will continue having use value, except
for certificates of deposit insurance which have been granted for organizations
not having to engage in deposit insurance as prescribed by Law on deposit
insurance. Certificates of deposit insurance which have been granted for
organizations not having to engage in deposit insurance as prescribed by Law on
deposit insurance will be invalid.
Article 21. Effect
1. This Decree takes effect on August 19, 2013.
2. Provisions of the Decree No. 89/1999/ND-CP dated
September 01, 1999, on deposit insurance and the Decree No. 109/2005/ND-CP,
dated August 24, 2005, amending and supplementing a number of articles of the
Decree No. 89/1999/ND-CP shall cease to be effective, except for case specified
in clause 3 of this Article.
3. Provisions on deposit insurance premium,
insurance amount that is refunded in the Decree No. 89/1999/ND-CP dated
September 01, 1999, on deposit insurance and the Decree No. 109/2005/ND-CP,
dated August 24, 2005, amending and supplementing a number of articles of the
Decree No. 89/1999/ND-CP shall continue taking effect untill the Prime Minister
promulgates provisions on deposit insurance premium framework, limitation of
refunded insurance amount as prescribed in the Law on deposit insurance.
Article 22. Responsibility for
implementation
1. The Governer of the State bank of Vietnam shall
implement this Decree.
...
...
...
Please sign up or sign in to your Pro Membership to see English documents.
ON BEHALF OF
THE GOVERNMENT
PRIME MINISTER
Nguyen Tan Dung