Press release on issuance Circular No.04/2016/TT-NHNN on April 15th, 2016 on regulating the valuable papers depository and use at the State Bank of Vietnam (SBV).
Press release on issuance Circular No.04/2016/TT-NHNN on April 15th, 2016 on regulating the valuable papers depository and use at the State Bank of Vietnam (SBV).
The SBV Governor issued Circular No.04/2016/TT-NHNN on April 15th, 2016 on regulating the depositing and utilization of valuable papers at the SBV to replace the following documents: Merging Document No. 13/VBHN-NHNN dated May 21st, 2014 on provision on depository of valuable papers at the SBV; Decision No. 42/2006/QĐ-NHNN dated August 28th, 2006 on revising some contents of Decision No.1022/2004/QĐ-NHNN; Decision No.1022/2004/QĐ-NHNN dated August 17th, 2004 on valuable paper regulation at the SBV;
The Circular on the valuable paper depository and utilization at the SBV includes 3 parts as followed:
1. General provisions on Governing scope, implementers, explanation of terms, par value valuable paper code, the utilization of valuable paper depository at the SBV.
2. Specific provisions:
(i): Provision on valuable papers depository includes: Depository member registration, depositing valuable papers, principles on transferring the right of owning valuable papers, payment of principal and interest of valuable papers, valuable papers withdrawal, depository termination;
(ii) Utilizing valuable papers in open market operations, valuable papers discount, lending mortgage secured by valuable paper, refinancing on the basis of special bonds and debt-purchasing bonds used by Vietnam Asset Management Company (VAMC) at market price, collateral depositing valuable papers to set the overdraft limit for overnight loans and net debt limit.
(iii) Valuable paper transactions and purchase among members, the transfer the right of the valuable paper ownership in case of division, separation, merger, consolidation, acquisition and license revocation.
3. Regulations on implementing provisions included responsibilities of the SBV entities, members, transitional terms and defined effective date.
This Circular takes effect from June 1st, 2016.
The State Bank of Vietnam