Corporate bonds

SBV inspection probes several banks holding corporate bonds

The seven commercial banks subject to inspection are Techcombank, HDBank, TPBank, SHB, PVComBank, VietBank and SeABank, the Dan Viet news site reports. Meanwhile, a similar inspection of Baoviet Bank is being conducted by the Ministry of Finance.

The SBV Inspection carried out inspections in the seven banks between February and April. The inspectors submitted the first results of the inspections to the governor of the SBV regarding the purchase of corporate bonds by these banks. The results were also forwarded to the State Securities Commission to deal with possible irregularities in the use of capital raised through the bond issues.

Earlier, following problematic bond issuances by real estate developer Tan Hoang Minh, the government issued instructions asking relevant authorities to take measures to ensure the stability, transparency and sustainable development of the bond market. businesses.

According to the government, the corporate bond market is a vital channel for companies to attract medium- and long-term capital, but many irregularities have been exposed in recent times, posing risks for bondholders. and the economy.

The Prime Minister therefore requested the Minister of Public Security to establish violations to impose punitive sanctions to ensure that the capital raised through this channel is used in a legitimate and transparent manner, contributing to business development and the macroeconomic stability.

Source: SGT