The State Bank of Vietnam (SBV) has allowed credit institutions and branches of foreign banks to immediately buy back corporate bonds they sell instead of waiting for 12 months from the date of sale, as regulated by Circular No. 16/2021/TT-NHNN.

The new regulation is effective from April 24 to December 31, 2023.

It is aimed at supporting the corporate bond and real estate markets as they face many difficulties, thus contributing to stabilizing the macro-economy.

The regulation is also in line with government policy on solutions to tackle and boost the development of the real estate market in a safe, sound, and sustainable manner.

Earlier, Prime Minister Pham Minh Chinh asked the SBV to review and step up the issuance of the draft circular amending and supplementing several provisions in Circular No. 16 on the purchase and sale of corporate bonds by credit institutions and foreign bank branches.