Press Release on issuance of Circular No.16/2019/TT-NHNN
Hanoi, October 22, 2019 – The Governor of the State Bank of Vietnam (SBV) issued Circular No. 16/2019/TT-NHNN stipulating the issuance of the SBV bills, which shall replace the Regulations on the issuance of the SBV bills promulgated as attachment to Decision No. 362/1999/QD-NHNN dated October 8, 1999.
The new Circular is composed of 3 sections, specifically as follows:
(i) Stipulating the scope and subjects of governing and the interpretation of terminology.
(ii) Stipulating the terms and conditions of the SBV bills; the selling prices; the methods of issuance; the payment for the SBV bills; the issuing costs, the interest rates of the SBV bills; the use of the SBV bills in the SBV transactions, etc.
(iii) Stipulating the responsibilities of the SBV entities, the effectiveness, and the implementation.
The new Circular takes effect from December 9, 2019.
Translated by Le Hang