Thông tư 02/2024/TT-NHNN sửa đổi Thông tư 17/2016/TT-NHNN quy định về hoạt động môi giới tiền tệ của ngân hàng thương mại, chi nhánh ngân hàng nước ngoài do Thống đốc Ngân hàng Nhà nước Việt Nam ban hành

CIRCULAR

AMENDMENTS TO SOME ARTICLES OF CIRCULAR NO. 17/2016/TT-NHNN DATED JUNE 30, 2016 OF THE GOVERNOR OF THE STATE BANK OF VIETNAM ON MONETARY BROKERAGE BY COMMERCIAL BANKS AND FOREIGN BANK BRANCHES

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated January 18, 2024;

Pursuant to the Government's Decree No. 102/2022/ND-CP dated December 12, 2022 on functions, tasks, powers and organizational structure of the State Bank of Vietnam;

At the request of the Director of the Monetary Policy Department;

The Governor of the State Bank promulgates Circular on amendments to some Articles of the Circular No. 17/2016/TT-NHNN dated June 30, 2016 on monetary brokerage by commercial banks and foreign bank branches (hereinafter referred to as “Circular No. 17/2016/TT-NHNN);  

Article 1. Amendments to some Articles of Circular No. 17/2016/TT-NHNN

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“2. Customers provided with money brokerage services (hereinafter referred to as “customers”) that are credit institutions or foreign bank branches established and operating in accordance with the Law on Credit Institutions.”

2. Clause 1 Article 3 shall be amended as follows:

“1. Monetary brokerage” means provision of intermediary services with fee collection for arrangement for performance of banking operations and other business activities between credit institutions and foreign bank branches according to regulations of the Law on Credit Institutions.”

3. Article 5 shall be amended as follows:

“Article 5. Scope of monetary brokerage

Commercial banks and foreign bank branches are permitted to provide monetary brokerage services for customers for the purpose of performance of banking operations and other business activities as prescribed in the Law on Credit Institutions.

4. Article 6 shall be amended as follows:

“Article 6. Monetary brokerage methods

Brokers may provide monetary brokerage services for customers through direct transactions or by electronic means in accordance with regulations of the law on electronic transactions.”

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1. Clause 2 Article 3 shall be annulled.

2. Clause 3 Article 4 shall be annulled.

Article 3. Responsibilities for implementation

The Office’s Chief, the Director of the Monetary Policy Department, Heads of units affiliated to the State Bank of Vietnam, credit institutions and foreign bank branches shall be responsible for organizing the implementation of this Circular.

Article 4. Implementation

1. This Circular comes into force as of July 01, 2024.

2. With regard to any of brokerage contracts concluded before the effective date of this Circular, the credit institution, the foreign bank branch and another financial institution shall decide whether to keep executing the monetary brokerage contract at the time of conclusion of the contract until the end of the signed contract or reach agreement to make amendments to the contract in accordance with regulations in this Circular./.

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