The Government Office has just issued Public Electricity No. 8857/CD-VPCP on December 3, 2021, on strengthening the management, inspection, and inspection of the issuance of corporate bonds (TPDN).
The electricity clearly states: The corporate bond market is an important medium and long-term capital mobilization channel of enterprises following the Government's policy on balancing the capital market and the currency and credit markets... however, recently, enterprises have increased capital mobilization through the issuance of corporate bonds in the form of individual issuance with a scale of over VND 436 trillion in the first 11 months of 2021, an increase of over 23.4% over the same period in 2020, potentially many risks. In this regard, Prime Minister Pham Minh Chinh requested:
1. Ministry of Finance:
a) To urgently inspect, inspect and supervise the observance of the law on issuance and use of capital obtained from bond issuance, especially the issuance of individual bonds of real estate enterprises and credit institutions related to real estate enterprises, enterprises with large issuance volume, high-interest rates, businesses with loss-making business results, issued enterprises without secured assets ... report to the Prime Minister before December 15, 2021.
b) Urgently review the legal provisions related to the corporate bond market and the issuance of corporate bonds to promptly amend and supplement to enhance the effectiveness and effectiveness of the management and supervision of the corporate bond market, ensuring a healthy development of the market, transparency, safety.
2. The State Bank of Vietnam shall assume the charge and coordinate with relevant agencies in strengthening the inspection and inspection of the situation and investment in corporate bonds of credit institutions, promptly detecting and warning of risks and taking measures to handle them according to regulations, Ensuring the safety of the credit institution system.
3. The Ministry of Public Security shall coordinate with the Ministry of Finance, the State Bank of Vietnam, and relevant agencies in grasping the situation and receiving information and cases showing signs of law violations (if any) to strictly handle them following the law.
Collected from Source
BDT
