by kseaNew insolvency protections for close-out netting under credit institutions' interest rate derivatives
30 September, 2026
Effective 12 August 2026, Decree No. 318/2026/ND-CP introduces targeted protections for interest rate derivative contracts of Vietnamese-licensed credit institutions and foreign bank branches containing net settlement provisions.
The new framework brings greater certainty to rehabilitation and bankruptcy proceedings, including protections for security enforcement, payments and set-offs, and close-out netting without prior court approval. However, the protections are limited to interest rate derivatives and do not extend to FX, commodity or credit derivatives, a narrower scope than safe harbours in many other jurisdictions.
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