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Legal News in July 2018

1. Maximum percentage for credit institutions’ short-term lending in 2018 On 31 July 2018, the Government of State Bank of Vietnam issued Circular No. 16/2018/TT-NHNN, amending Circular No. 36/2014/TT-NHNN, regulating prudential limits and ratios for operations of credit institutions and foreign banks’ branches (“Circular 16”). According to the new Circular, credit institutions and foreign banks’ branches must abide by the maximum percentage for short-term funding source used for providing mid-term and long-term loans in accordance with the following schedule: (a)   From 1 January 2018 to the end of 31 December 2018:             (i)        Banks and foreign banks’ branches: 45%;             (ii)       Non-bank credit institutions: 90%. (b)...

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