The State Bank of Vietnam (SBV) is seeking to amend and supplement Circular 16/2021/TT-NHNN (referred to hereafter as the Draft), which regulates the trading of corporate bonds by credit institutions. 

In general, the key changes proposed in the draft include (but are not limited to) the following: 

1.    Supplementing and amending cases in which credit institutions are not allowed to buy corporate bonds.

2.    Requiring non-cash payment (i.e., transfer between bank accounts) in the settlement process and specific measures to control the proper use of proceeds from bond issuances.

3.    Requiring specific internal regulations to control risk from trading and holding corporate bonds.

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