DECREE

In terms of state foreign exchange reserves management

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Government Law Base December 25, 2001;

Vietnam State Bank Law Base June 16, 2010;

The foreign exchange ordinance on 13 December 2005 and the Ordination of the Ordination, added some of the provisions of the Foreign Exchange Ordination on March 18, 2013;

At the suggestion of Governor of the State Bank of Vietnam,

The government issued a decree on the management of state foreign exchange reserves.

Chapter I

GENERAL REGULATION

What? 1. The adjustment range

This decree provides for state foreign exchange reserves, state foreign exchange reserves, accounting accounting, reporting and publication of state foreign exchange reserves.

What? 2. State Foreign Exchange Reserve Management Agency

The State Bank of Vietnam (later known as the State Bank) is the governing body of state foreign exchange reserves under the regulation at this decree and the relevant law regulations.

What? 3. Explain words

At this decree, the words below are understood as follows:

1. The state foreign exchange reserve is the foreign exchange asset shown in the Bank of State Bank ' s currency balance sheet that includes:

a) Official state foreign exchange reserves (later known as official foreign exchange reserves) are the State-owned foreign exchange assets assigned by the Government to the State Bank directly administered by the State Bank;

b) Foreign and gold deposits of credit organizations, foreign bank branches (later known as credit organizations) and the State Treasury sent at the State Bank;

c) Other sources of foreign exchange.

2. Official foreign exchange reserves include the Foreign Exchange Reserve Fund and the Gold Market Management Stability Fund.

3. Conservation of state foreign exchange reserves is to secure state foreign exchange reserves through compliance with the structure, standards, limit of approved state foreign exchange reserves.

4. The state foreign exchange reserve liquidity is the ability to be willing to meet the foreign currency and gold that serves the goal of running the national currency policy, the exchange rate policy and gold, foreign exchange market intervention ensuring international payment capacity and response. The need for foreign exchange, the state department.

5. Students are the positive difference between the total income minus the cost of the official foreign exchange reserves in the fiscal year.

6. State foreign exchange reserves investment is the Bank of the State sent, bought, sold foreign currency and gold; buy, sell securities, other kinds of paper priced in foreign currency; trust investment and implement other forms of investment in the international market led by Governor-General. State banks rules in every period.

7. Official foreign exchange reserve investment structure includes: The ratio of foreign currency and volume of gold; short-term and long-term investment rates; foreign deposit rates, securities, price types, and other forms of investment in reserve. the official foreign exchange and the maximum level of foreign currency to purchase gold on the International Market of the International Monetary Fund and Gold Market Management are regulated by the Governor of the State Bank during the period.

8. State foreign exchange reserve investment standards include: The credit rating of the partner is allowed to invest in state foreign exchange reserves, the type of securities, the valuable paper that is allowed to invest the state foreign exchange reserves held by the Governor of the State Bank. In every time.

9. The investment of state foreign exchange reserves is the maximum foreign exchange allowed to invest in partnership and investment form prescribed by the Governor of the State of the State for each period.

10. The domestic market intervention in the country is the Bank of the State Bank to Buy, sell, swap foreign currency and gold and implement other forms of intervention in the domestic market.

What? 4. State foreign exchange reserves

1. Money foreign currency, foreign currency deposits abroad.

2. Securities and other valuable foreign currency notes issued by the Government, foreign organization, international organization released.

3. Special capital withdrawal, reserve at the International Monetary Fund.

4. Gold by the State Bank.

5. Other types of foreign exchange.

What? 5. The source of state foreign exchange reserves

1. Foreign exchange from state budget and foreign exchange market.

2. Foreign exchange from bank loans and international financial institutions.

3. Foreign exchange from the foreign currency deposits of the State Treasury and credit organizations.

4. Foreign exchange from investments from the investment of state foreign exchange reserves.

5. Foreign exchange from other sources.

What? 6. Structure, standards, limit of state foreign exchange reserves

1. The State Bank regulates the structure, the standard, limiting the investment of state foreign exchange reserves including:

a) Regulation of standards, the investment limit applicable to state foreign exchange reserves;

b) The regulatory structure applies to the official foreign exchange reserves, including the investment structure of the Foreign Exchange Reserve Fund and the hedge fund investment structure and gold market management.

2. The facility that builds the investment structure of the Foreign Exchange Fund:

a) Trends volatility rates, interest rates and gold prices on the international market;

b) The situation invested in the foreign currency and gold in the international reserves of countries around the world according to the statistics of the International Monetary Fund.

3. The facility that builds the investment structure of the Fund for International Price and Market Management:

a) The monetary policy objective, the exchange rate and the price of gold;

b) The situation volatility rates and gold prices on the domestic and international foreign exchange market;

c) The situation uses the types of foreign currency in the payment of exporting goods, services and paying foreign debt of Vietnam;

d) The foreign exchange rate of the International Monetary Fund and the management of the Gold Market by the Prime Minister during the period.

4. Standard Building Facility, Investment Level:

a) The scale of state foreign exchange reserves;

b) The forecast for the international financial market and foreign exchange market in the country;

c) The ranking system of prestigious credit rating organizations in the world.

5. A six-month period and when necessary, the Governor of the State Bank decides to approve the structure, standards, limit of state foreign exchange reserves and report the Prime Minister simultaneously sending the Ministry of Finance to coordinate.

What? 7. The foreign currency is allowed to invest state foreign exchange reserves

The foreign currency is allowed to invest in state foreign exchange reserves as the free trade and other foreign currency by commitment at bilateral and multilateral currency swaps agreements signed by the State Bank with central banks and financial institutions. International.

What? 8. Check out the state foreign exchange reserve management

Every year, the Ministry of Finance examines the management of the State Bank ' s state foreign exchange reserves under the regulations at this Decree.

Chapter II

OFFICIAL FOREIGN EXCHANGE RESERVE MANAGEMENT

Item 1

GENERAL REGULATION

What? 9. The principle of official foreign exchange reserves

Official foreign exchange reserves management must ensure the following principles:

1. Secure.

2. The liquidity.

3. Students.

What? 10. Official foreign exchange management business

The State Bank manages official foreign exchange reserves through the following professions:

1. Investment on the International Market.

2. Market intervention in the country.

3. Make a career foreign exchange career.

4. implement bilateral and multilateral currency swap agreements with central banks and international financial institutions.

5. The other official foreign exchange management business is decided by the Governor of the State Bank for each period.

What? 11. The purchase, sale of foreign currency between official foreign exchange reserves with state budget

1. The Ministry of Finance is responsible for sending all the foreign currency of the State Treasury at the State Bank.

2. Every year, the Prime Minister ' s Ministry of Finance approx the foreign currency that is allowed to retain to spend the regular foreign currency of the state budget. On the basis of the foreign currency permitted by the Prime Minister, the Ministry of Finance is responsible for selling the remaining foreign currency to the official foreign exchange reserves.

3. Every year, the slog, to the end of March 31, the Ministry of Finance has text to the State Bank announcing plans to sell foreign currency in five details according to the quarter to supplement the official foreign exchange reserves.

4. The state budget case is likely to unbalance the foreign currency to carry out the government ' s foreign debt and other foreign currency needs of the state budget, the Ministry of Finance in coordination with the State Bank built a balanced approach to the state budget. selling foreign currency to the state budget.

What? 12. Export, Import, Gold conversion

1. Structure base, standard, limit of state foreign exchange reserves, demand for domestic gold market intervention in the country during the period, the Governor of the State Bank decided the export, import of international standard gold, other gold under the reserve. State foreign exchange and gold conversion of state foreign exchange reserves from gold standard gold to other gold and vice versa.

2. The standard for export of export, import, gold conversion by the Governor of the State of the State of the State of the State of the State.

Item 2

FOREIGN EXCHANGE RESERVE MANAGEMENT

What? 13. The scope of using the Foreign Exchange Fund

The foreign exchange reserve fund is used to:

1. Investment on the International Market.

2. Make a career foreign exchange career.

3. Make bilateral and multilateral currency swap agreements with central banks and international financial institutions.

4. transfer and exchange of foreign exchange with the International Monetary Fund and Gold Market Management,

5. Use of foreign exchange to meet the need for foreign exchange of foreign exchange, the urgency of the State.

What? 14. Foreign Exchange Fund Foreign Exchange Fund for Foreign Exchange Fund and Gold Market Management

The Governor of the State Bank decided the exchange of foreign exchange between the Foreign Exchange Reserve Fund and the Gold Market Stability Fund and the Gold Market Management aims to ensure compliance with the approved investment structure of the Foreign Exchange Reserve Fund and the International Monetary Fund. management of the gold market without changing the balance of the two funds that are regulated to the U.S. dollar at the time of the swap.

What? 15. Using the Foreign Reserve Fund for the Sudden, Urgent Needs Of The State

1. The Ministry of Finance chaired, in coordination with the State Bank of the Government of the Government of the Government to decide the use of foreign exchange from the Foreign Exchange Fund for the need for a sudden, urgent need of the State. In the case of foreign exchange for repayment and loan, the Ministry of Finance is liable to revoking and reimbursate at the discretion of the Prime Minister and the rule of law.

The case of foreign exchange use from the Foreign Exchange Reserve leads to a change in the state budget bill that is implemented by regulation at the State Budget Law.

2. The decision base of the Prime Minister and the offer of the Ministry of Finance, the Governor of the State Bank issued the decision to use foreign exchange from the Foreign Exchange Reserve Fund.

Section 3

MANAGEMENT OF THE GOLD MARKET AND GOLD MARKET MANAGEMENT

What? 16. Range using the International Monetary Fund and Gold Market Management

The gold market management and gold market management is used to:

1. Foreign and gold market intervention in the country.

2. Investment on the international market, which does not include investment trust activity.

3. Make a career foreign exchange career.

4. Convert and swaps of foreign exchange with the Foreign Exchange Reserve Fund.

5. Sell or suspend foreign currency for foreign exchange needs arise from the business of the industry, the manager of the State Bank.

6. The currency sale for the state budget under the balance of foreign currency has been approved.

What? 17. The foreign exchange rate of foreign exchange rates and gold market management and the transfer of foreign exchange between the International Monetary Fund and the Gold Market Management and Foreign Exchange Fund.

1. The foreign exchange rate of the International Monetary Fund (IMF) and the gold market management decided by the Prime Minister during the period.

2. The foreign exchange rate of the IMF ' s foreign exchange and gold market management has been decided by the Prime Minister and the foreign and gold market situation in the country, the State Bank Governor decides the maximum foreign currency to buy gold on the market. The International School of the Fund is proportional to the rate and management of the gold market during the period.

3. The Governor of the Bank of the State decided to move foreign exchange from the IMF and gold market management to the Foreign Exchange Fund as the balance of the balance of the International Monetary Fund and the gold market management exceeded the level that was decided by the Prime Minister.

4. In case the foreign exchange balance of the International Monetary Fund and the gold market manager failed to meet the domestic market intervention requirement, the Governor of the State Bank of the Prime Minister of Government authorized the transfer of foreign exchange from the Foreign Reserve Fund. to the International Monetary Fund and Market Management of Gold.

What? 18. Market intervention in the country

1. National currency policy target base and price volatility situation and the price of gold in the domestic market, the State Bank builds a domestic market intervention mechanism during the period.

2. The Governor of the State Bank decided to make specific interventions, including:

a) Time to intervene;

b) The foreign currency, the amount of foreign currency and volume of gold intervened;

c) The price and price of gold intervened;

d) The form of intervention includes buying, selling, exchange of foreign currency and gold;

Partners in action;

e) The transition from international standard gold to other gold and vice versa as needed;

g) Other content is relevant,

3. The Governor of the State Bank of the Prime Minister of the Prime Minister approx the form of interference other than the forms of regulation of regulation at Point 2 This Article.

What? 19. Buy, sell gold on the international market serving market interference in the country

1. The structural base, standard, limit of the Fund ' s Investment Rate and Gold Market Management, the demand for gold to intervene in the market during each period, the volume of gold has used intervention, the national security requirement, the Governor of the Bank of State decided. purchase, selling gold on the international market serving gold market interference in the country.

2. The standard option for purchasing partners, selling gold on the international market serves domestic market interference by the Governor of the State Bank in each period.

Chapter III

MANAGE YOUR FOREIGN AND GOLD DEPOSITS

STATE COFFERS, CREDIT ORGANIZATIONS.

AND OTHER FOREIGN EXCHANGE SOURCES

What? 20. The principle of managing the foreign currency and gold deposits of the State Treasury, credit organizations and other foreign exchange sources.

The State Bank manages the foreign currency and gold deposits of the State Treasury, credit organizations at the State Bank and other foreign exchange sources must ensure the following principles:

1. Secure the safety through compliance with standards, limit of state foreign exchange reserves.

2. In a timely response to the foreign exchange needs of the State Treasury and credit organizations as needed.

3. The liquidity.

What? 21. The business of managing the foreign currency and gold deposits of the State Treasury, credit organizations and other foreign exchange sources.

The State Bank manages the foreign currency and gold deposits of the State Treasury, credit organizations at the State Bank and other foreign exchange sources through the following business:

1. Investment on the International Market.

2. Cash at the fund or store.

3. Other management careers are decided by the Governor of the State Bank during each period.

Chapter IV

ACCOUNTING ACCOUNTING, REPORT, AND INFORMATION PUBLICATION

What? 22. Accounting booklet

1. The state foreign exchange reserves are regulated by the yuan and the Vietnamese in accordance with the rule of law.

The State Bank performs reassessment of state foreign exchange reserves on the Bank of State ' s balance sheet to monitor the increase or decrease the value of state foreign exchange reserves by Vietnam to reflect the volatility in terms of the price and price of gold. on the domestic and international markets.

2. Income and expenses arise during the management of state foreign exchange reserves are accounted for in the income and cost of the bank of the State Bank by the rule of law. Income and costs arise when purchasing, selling gold on the international market serving domestic market interference, exports, imports, gold conversion and other foreign exchange market intervention activities in other countries as income and cost of serving as a whole. The objective of running the monetary policy, the monetary policy, and the gold.

What? 23. Report Mode

1. A six-month period, the State Bank reports the Prime Minister on the scale of the scale and the situation using state foreign exchange reserves, the co-sending the Ministry of Finance.

2. The annual and when necessary, the State Bank reports the Prime Minister on the situation of carrying out state foreign exchange reserves management and expects state foreign exchange reserves, limiting the price of the price of the gold market and managing the gold market for the next year. Yes, the Treasury Department.

What? 24. announces state foreign exchange information information

1. State Bank announces information on state foreign exchange reserves under the rule of law.

2. The state foreign exchange reserves are regulated to the U.S. dollar for statistical work, management information, and data publication. The State Bank determines the price and price of gold to make the regulation of foreign currency and foreign exchange reserves to the U.S. dollar.

Chapter V.

EXECUTION CLAUSE

What? 25.

1. This decree has been in effect since 15 July 2014.

2. This decree replaces the Digital Protocol 86 /1999/NĐ-CP August 30, 1999 of the Government on the management of state foreign exchange reserves.

What? 26.

1. The State Bank is responsible for guiding and organizing the implementation of this decree.

2. Ministers, peer-to-peer agencies, Head of the Government of the Government, Chairman of the Provincial Committee of the Provincial People, the Central City of the Central Committee and the organizations, the individual is responsible for the implementation of this decree.