HSBC Vietnam allowed to continue providing derivative products

The State Bank of Vietnam (SBV) issued Document No. 529/NHNN-CSTT on January 21 to allow HSBC Bank (Vietnam) Ltd. to continue providing pilot derivative instruments with the substance and duration defined in the acceptance letters for HSBC Ho Chi Minh City and Ha Noi branches previously.

HSBC Bank (Vietnam) Ltd. will make its own decisions and be responsible for providing the derivative products in compliance with the applicable regulations and laws on direct and indirect foreign investment in Vietnam, indirect investment abroad, forex management, interest rates, risk provisioning, capital adequacy ratio, and other relevant laws and regulations.

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