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The State Bank promulgates a Circular related to the purchase and sale of corporate bonds

​TTDT - The State Bank of Vietnam has just issued the Circular No. 03/2023/TT-NHNN stipulating the suspension of the implementation of Clause 11 Article 4 of Circular No. 16/2021/TT-NHNN stipulating the organization of credit, foreign bank branches buy and sell corporate bonds.

Specifically, credit institutions and foreign bank branches may purchase corporate bonds that have not been listed on the stock market or have not been registered for trading on the Upcom trading system (hereinafter referred to as unlisted corporate bonds) that the credit institutions have sold, and/or the unlisted corporate bonds issued in the same lot/same tranche as the unlisted corporate bonds that the credit institutions have sold when meeting the following requirements: prescribed in Article 4, Circular No. 16/2021/TT-NHNN

The buyers of these corporate bonds from credit institutions shall pay the entire amount of the purchase of corporate bonds at the time the credit institutions sign contracts to sell corporate bonds to the bond buyers; bond issuers rated at the highest level according to the credit institution's internal credit rating regulations at the latest time before the credit institutions buy corporate bonds.

The issuance of Circular No. 03/2023/TT-NHNN aims to contribute to increasing liquidity, removing difficulties, promoting the development of the corporate bond market in the current difficult situation according to the policy of the Government and direction of the Prime Minister. This Circular takes effect from April 24, 2023.​​

Author: Phan Anh

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