State Bank of Vietnam Proposes Repealing 17 Banking Regulations
The State Bank of Vietnam is seeking feedback on a draft circular to repeal 17 regulatory documents covering US dollar lending rates, credit institution mergers and acquisitions, people’s credit funds, and bank payments. Its legal department says the documents remain in force but are no longer applied in practice, and their repeal would create no legal gap.
The State Bank of Vietnam is seeking feedback on a draft circular to repeal 17 regulatory documents issued by its governor. The proposed repeals cover US dollar lending rates, credit institution mergers and acquisitions, people’s credit funds, and bank payments and technology management. The proposal remains at the consultation stage.
The list includes a 2001 decision changing how credit institutions’ US dollar lending rates for customers are regulated, a 2002 decision removing rules on unsecured loan limits, and a 2010 circular on mergers, consolidations and acquisitions of credit institutions. Two circulars from 2018 are also included. They concern the determination of state capital in credit institutions undergoing equitization and transitional arrangements where a major shareholder of one credit institution and related parties hold shares amounting to at least 5% of another credit institution’s charter capital.
Two documents concerning people’s credit funds are proposed for repeal. They address the management of state support funds and the liquidation of credit funds. Five other decisions cover bank payments and technology, including rules on payment document codes, security keys for electronic transfers, technical standards for banking software, security keys for bill and bond auctions, and computerized accounting.
The State Bank of Vietnam’s legal department said the proposed repeals cover nine decisions, three directives and five circulars, based on a comprehensive review of the bank’s regulatory documents in 2025–2026. Although still in force, the documents are no longer applied in practice. The main reasons include expired periods of application or legal bases, replacement provisions, incorporation into other documents, or incompatibility with the organizational structure after restructuring. The department assessed that repealing them would create no legal gap, introduce no new administrative procedures and have no effect on the lawful rights and obligations of organizations and individuals.
Source: VietVance
