Quyết định 886/2003/QD-NHNN

DECISION

ON THE AMENDMENT, SUPPLEMENT OF THE REGULATION ON THE CO-FINANCING OF CREDIT INSTITUTIONS ISSUED IN CONJUNCTION WITH THE DECISION No. 286/2002/QD-NHNN DATED 3 APRIL, 2002 OF THE GOVERNOR OF THE STATE BANK

THE GOVERNOR OF THE STATE BANK

- Pursuant to the Law on the State Bank of Vietnam dated 12 December, 1997 and the Law on the amendment, supplement of several Articles of the Law on the State Bank dated 17 June, 2003; the Law on the Credit Institutions dated 12 December, 1997;
- Pursuant to the Decree No.86/2002/ND-CP dated 5 November, 2002 of the Government on the functions, assignments, authorities and organizational structure of Ministries and ministerial-level agencies;
- Upon the proposal of the Director of the Credit Department;

DECIDES:

Article 1.

To amend, supplement several Articles of the Regulation on the co-financing of credit institutions issued in conjunction with the Decision No. 286/2002/QD-NHNN dated 3 April, 2002 of the Governor of the State Bank as follows:

1. To amend, supplement paragraph 4 Article 2 as follows:

"4. Coordinating organisation for co-financing shall be one of member credit institutions that is selected and assigned by other members the coordinating responsibilities for the organisation of the co-financing on the basis of that credit institution's capacity. The Central People's Credit Fund or the Local People's Credit Fund shall act as a coordinating organisation for a co-financing in case those organizations syndicate funds for lending. Finance Companies of General Corporations shall not act as a coordinating organisation for a co-financing."

2. To amend, supplement Article 4 as follows:

Article 4. Credit institutions which are entitled to a co-financing

1. Credit institutions which are established and operating under the Law on the credit institutions and their authorised branches shall be entitled to participate in the co-financing.

2. The Local People Credit Fund shall be only entitled to form the loan syndication with the Central People Credit Fund. In addition to the compliance with the Regulation on the co-financing, the Central People Credit Fund and the Local People Credit Fund shall comply with provisions of the Government and the guidance of the State Bank on the organization and operation of those organizations.

Article 2. This Decision shall be effective after 15 days from the date of its publication in the Official Gazette.

Article 3. The Director of the Administrative Department, the Director of the Credit Institutions Department, Heads of units of the State Bank of Vietnam, General Managers of the State Bank's branches in provinces, cities under the central Government's management, Chairman of the Board of Directors, General Director of the Central People Credit Fund and the Director of the Local People Credit Fund shall be responsible for the implementation of this Decision.