Frasers Newsletter Edition 4, 2012
28 June 2012
In this edition, we review two new circulars (Circulars 03 and 07) on loans issued in foreign currencies, when they are permitted and regulations further limiting banks’ permitted foreign currency positions as a percentage of total equity.
We also report on an important announcement by the Governor of the State Bank of Vietnam reducing further the ceiling interest rates on short term deposits to 9%.
We provide an overview of Decree 11 detailing important new regulations on secured transactions, refining definitions and introducing new categories of property which may be used as security in any transaction.
We report on Circular 02 of interbank foreign exchange transactions, and we discuss Decree 12 which provides further clarity on the processes for registering and operating foreign non-governmental organisations in Vietnam.