The CIRCULAR regulates the gold status of credit institutions _ _ _ _ _ _ _ _ _ _ _ _ _ pursuant to the law the State Bank of Vietnam the number 46/2010/QH12 16 June 2010;
Pursuant to the law on credit institutions the number 47/2010/QH12 16 June 2010;
Pursuant to Decree No. 96/2008/ND-CP on August 26, 2008 Government's functions, tasks, powers and organization of the crane the State Bank of Vietnam;
Pursuant to Decree No. 24/2012/ND-CP dated 03 April 2012 of the Government on the management of the gold trading activities;
At the suggestion of the Director of the Foreign Exchange Management;
The Governor of the State Bank issued a circular regulating the gold status of credit institutions, article 1. Scope and objects 1. This circular regulates the gold status of credit institutions are allowed to buy the business, sell gold pieces.
2. Business buy, sell gold pieces specified in this circular includes buying, selling gold for immediate delivery.
Article 2. Explain the terms of this circular, the terms below are interpreted as follows: 1. Credit institutions are allowed to buy the business, sell gold pieces as credit institutions are the State Bank of Vietnam (hereinafter the Bank) business license buy, sell gold pieces.
2. the gold status of credit institutions is the balance of gold pieces resulting from active buying, selling gold pieces of the credit organization be converted Vietnam bronze gold status conversion rates.
3. Buying, selling gold for immediate delivery is trading sides make buy, sell together a gold pieces as the price of gold was the agreement at the time of the transaction and end payments, delivery, get gold within 2 (two) working days.
4. Price of gold status conversion is the purchase price of gold pieces that correspond to each type of gold pieces due to credit institutions published reports late in the day.
Article 3. The principle of the Golden State properties 1. The gold status of credit institutions is determined at the end of the working day.
2. the gold status of credit institutions shall be calculated on the basis of sales buy, sell gold for immediate delivery, including the commitment to buy, sell gold pieces delivered outside the table.
3. the gold status of credit institutions not including the balance of gold pieces resulting from active buying, selling gold to perform payment of the balance of the activity have arisen before the date of this circular effect enforcement, including: a) mobilization, lending in accordance with circular No. 11/2011/TT-NHNN on 29/4/2011 State Bank about the termination of the mobilization and for gold loans of credit organizations and circular No. 12/2012/TT-NHNN dated Jan. 27/4/2012 about modifying, supplementing some articles of circular No. 11/2011/TT-NHNN;
b the conversion of gold into Vietnam Dong) Circular No. 32/2009/TT-NHNN on 06/10/2011 State Bank on amendments and supplements to some articles of the circular No. 11/2011/TT-NHNN;
c) Got gold, pledge to keep households and use gold to other purposes.
Article 4. Golden State limit 1. Golden State last October of credit institutions shall not exceed 2% compared with the capital letters of credit institutions.
The capital itself has to calculate the gold status of credit institution's own capital, the previous report of the States adjacent to credit institutions, to be determined according to the regulations of the State on the National Bank to ensure safety in the operation of the credit institution.
2. Credit institutions not maintained gold status.
3. where necessary, credit institutions are maintained in other gold status limits specified in paragraph 1, item 2 of this Thing when he was Governor of the State Bank of Vietnam approved.
Article 5. Slow reporting mode for up to 14 hours of the working day, credit institutions submit status reports on the adjacent work Gold earlier on the State Bank of Vietnam (the foreign exchange management and Service statistics, forecasting currency) according to the annex attached to this circular.
Article 6. Terms of implementation 1. This circular has effect from the date of 10/01/2013.
2. Financial-accounting is responsible for guiding the credit institutions are allowed to buy the business, sell gold pieces of gold status on the basis of calculation rules of accounting.
3. The Bureau of information technology within the scope of his duties, function is responsible for guiding the credit organization made gold status report in the case reported by electronic methods.
4. Inspection bodies, monitoring of Bank collaborated with the State Bank branch in the province, the city is responsible for checking, inspection, monitoring the implementation of the provisions of this circular and the handling of violations of the provisions of the law.
5. Office, Director of the foreign exchange management and heads of units of the State Bank of Vietnam; Chairman of the Board, the President of the Council members, the Director-General (Executive Director) credit institutions responsible for the implementation of this circular.