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Circular 01/2012/tt-Nhnn: Rules On Discounting Of Valuable Papers Of The State Bank Of Vietnam For Credit Institutions, Branches Of Foreign Banks

Original Language Title: Thông tư 01/2012/TT-NHNN: Quy định về chiết khấu giấy tờ có giá của Ngân hàng Nhà nước Việt Nam đối với tổ chức tín dụng, chi nhánh ngân hàng nước ngoài

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THE STATE BANK OF VIETNAM
Number: 01 /2012/TT-NHNN
THE SOCIALIST REPUBLIC OF VIETNAM.
Independence-Freedom-Happiness
Hanoi, February 16, 2012

IT ' S SMART

The provision for the discount of paper costs by the state bank of Vietnam

for the credit organizations, the foreign bank branch.

______________________________

Vietnam State Bank Law School No. 46 /2010/QH12 June 16, 2010;

The Code of Credit: 47 /2010/QH12 June 16, 2010;

Base of Protocol 96 /2008/NĐ-CP August 26, 2008 the Government regulates the functions, duties, powers, and organizational structure of the State Bank of Vietnam;

The State Bank of Vietnam (later referred to as State Bank) regulates the price of the State Bank's valuable paper on credit organizations, the foreign bank branch as follows:

Chapter I

GENERAL REGULATION

What? 1. The tuning range and subject apply

1. The adjustment range

This provision provides the implementation of a State Bank's valuable paper discount for credit organizations, foreign bank branches.

2. Subject applies

a) Banking, non-bank credit organization and foreign bank branch;

b) The Central People ' s Credit Fund for the time has not yet converted to a Cooperative Bank under the provisions of the Law of Credit organizations.

What? 2. Explain the word

In this Information, the following words are understood as follows:

1. Available Paper is the proof that the obligation to repay the debt between the organization's release is priced with the owner of the document at a certain time, the charge of interest and other conditions.

2. Long-priced Paper is a valid paper that has a deadline from one year or more since its release until the payment deadline.

3. Short-priced Paper is a valid paper that has a deadline for less than a year since its release until the payment deadline.

4. Price Paper Discount is a State Bank case that buys short-term purchases of valuable paper payments to credit organizations, branch of foreign banks before the payment to the payment (after this is a discount).

5. Buy license short-term purchase is the purchase with a term of less than a year of valuable paperwork.

6. Discount all remaining deadline of the paper's price is the form of State Bank that buys the valuable paper of credit organizations, the foreign bank branch at discount prices.

7. A discount with a term is the form of the Discount State Bank with a request for a credit organization, the foreign bank branch is committed to acquiring all that price paper after a certain amount of time before the payment of the payment of the price. The maximum discount is 91 days.

8. Total discount is the total amount of approved supply for the discount business of the State Bank.

9. Discount Discount is defined in the quarter and is the maximum amount that the State Bank makes discounts on valuable papers for a credit organization, the foreign bank branch at all times of the quarter.

10. Discount deadline is a period of time since the date of the price of paper costing the State Bank discounts to date of credit, the foreign bank branch is obliged to pay the purchase of the purchased paper to the State Bank and the return of paper priced in accordance with the promise. The acquisition of the valuable paper (the discount case has a term) or on the date to the payment of that price (the rest of the rest of the time).

11. The remaining deadline for valuable paper is a period of time from the date of the price of paper priced from the State Bank to date to date of payment.

12. Discount Interest is the State Bank interest that applies to calculate the amount of payment when making the price of paper priced at a price. Discount rates are defined by the State Bank and published, in accordance with monetary policy goals in each period.

What? 3. The goal and principle of a discount job

1. The State Bank performs a discount business with credit organizations, foreign bank branches aimed at implementing national monetary policy, which contributes to the promotion of economic-social development.

2. The economic development orientation base of the Government and the goal of national monetary policy in each period, the Governor of the State Bank decides the field of State Bank to prioritiate the discount to credit organizations, the banking branch and the banking sector. Foreign goods.

3. Based on the sum of discounts and targets of credit investment in each period, the State Bank allocated discounts for each credit organization, the foreign bank branch.

4. The credit organization, the foreign bank branch that is discounted must use the right capital; when the discount is expired on the case of a valid discount, credit organization, foreign bank branch must receive a certificate of value according to its commitment. And the payment is full of money to buy valuable paperwork for the State Bank.

What? 4. Career implementation Methods

1. Direct trading method: Credit organizations, foreign bank branches dealing directly with the State Bank.

2. The indirect transaction method: Credit organizations, foreign bank branches trade through the currency market trading network under the guidance of the State Bank.

What? 5. Code level, lock code, electronic signature code

Credit organizations, the foreign bank branch of the State Bank, code-coded, code-signed, electronic signature code for transaction cadres, control cadres and cadres that have the authority to sign the text (later known as a discount career personnel) to help. transaction through the State Bank ' s currency market transaction network to carry out a security regime.

What? 6. The discount is discounted

1. The paper standard is discounted at the State Bank:

a) released in Vietnam (VND);

b) Permission to transfer;

c) In the legal possession of the credit organization, the foreign bank branch offers discounts;

d) Not a valuable paper issued by the credit organization, the foreign bank branch offer the release of the release;

The maximum remaining time of the paper cost is 91 days for the event of a complete discount of the rest of the paper.

e) The remaining deadline of the paper cost must be longer than the discount State Bank deadline for the discounted case of a discount.

2. The portfolio of documents is discounted by the Governor of the State Bank of State for each period.

What? 7.

1. The transaction date in the discount business is the day of work.

2. The date of the expiration date of the discount on the day of the holiday, the date of the discount date of the discount is shifted to the next day of work.

Chapter II

SPECIFIC REGULATION

What? 8. Exposition of a discount job

Credit organizations, foreign bank branches participating in the discount business must fully meet the following conditions:

1. The credit organizations are not put into special control.

2. No overdue debt at the State Bank at the time of the discount offer.

3. Have an open deposit account at the State Bank (Department of Exchange or State Bank of the provincial branch, the central city of the Central Committee (later known as the authorized Branch State Bank) perform the discount.

4. There ' s an offer to announce that the price of a document discount is priced at the specified State Bank by regulation at Article 3 of this Article 9.

5. There is a document of eligible prices and a portfolio of discounted paper items at the State Bank.

6. The case of dealing with indirect means, credit organization, foreign bank branch must be fully equipped with machines, news equipment, transmission lines and connections to the server system at the State Bank (the Department of Exchange and the Bureau of Information Technology). You know,

What? 9. Announces discount

1. Based on the goal of national monetary policy and the direction of economic development-the government of the Government in each period, the Governor of the State Bank decided to extend the discount to the field of State Banking prioritization prioritization to the discount. Credit organizations, foreign bank branches.

2. Slow on the first 15 months of quarterly, credit organizations, foreign bank branches sending 01 sets of records that recommend a limited notice of discounted paper discounts via post, fax or direct payment to the State Bank (Credit Case) to pay for the payment. known as the basis of identification and notification of discounts for credit organizations, foreign bank branches in the quarter.

3. The recommended profile of the discount includes:

a) The State Bank recommendation paper announces the discount on Form 01 /NHNN-CK;

b) The balance of the accounting account of the last month of the credit organization, the foreign bank branch;

c) The table of eligible papers is eligible for discount at the State Bank by Form No. 02 /NHNN-CK;

4. The proposed filing base announces the discount of the credit organizations, the foreign bank branch, the slog on the first 20 months quarterly, the State Bank performs the allocation and notification of discounts for credit organizations, according to the report. The foreign bank branch is recommended by Form 03 /NHNN-CK.

5. State banks only allocate and announce discounts for credit organizations, the foreign bank branch offers to announce a discount to the State Bank on time of regulation.

What? 10. Office of the Discount Office

1. The person with the authority on behalf of the credit organization, the foreign bank branch of the foreign bank branch of the discounted business participation text at the State Bank is one of the following:

a) Chairman of the Board of Directors or Chairman of the Board of the Credit Organization;

b) General Manager (Director) of the credit organization, foreign bank branch.

2. The competent authority in Clause 1 This may authorize the Deputy Director-General (Deputy Director) to sign the discount business of the State Bank in accordance with the rule of law and is responsible for this mandate. The authorized person is not authorized again to the third person.

What? 11. The unit performs a discount job at State Bank.

The State Bank performs a valuable paper discount for credit organizations, the foreign bank branch at the Exchange. In case of necessity, the Governor of the State Bank can authorize the Director of the State Bank of the Branch State to be authorized to carry out a discount business to credit organizations, the foreign bank branch has its headquarters on the site.

What? 12. The trading representative of the credit organization, the foreign bank branch.

Credit organizations, foreign bank branches dealing with the State Bank through the headquarters (later known as trading representatives) are based on the aggregate demand of the credit organization, the foreign bank branch.

In the case of a foreign bank with two or more branches operating in Vietnam, the State Bank only deals with a branch representing the branches of the foreign bank in Vietnam based on the aggregate demand of branches.

What? 13. Exposition of the discount

1. Show a discount in a direct method.

Credit organizations, the foreign bank branch that has a need for discounted paper discounts through the transaction representative deposit 1 paper discount offer (according to Form 05 /NHNN-CK) by post office, fax or submit directly to the State Bank (Department of Exchange). Or Bank of State Bank is authorized.

The paper base offers discounts and limits the unused discount of the credit organization, foreign bank branch, State Bank (State Bank or State Bank) to review the decision and notification of acceptance (according to the Form). number 07A/NHNN-CK) or unaccepted notification (according to Model 07B/NHNN-CK) for a 1-day period of work since receiving a discount offer of the credit organization, foreign bank branch.

2. Career execution of discounting in an indirect method.

a) The credit organizations, the foreign bank branch, through a transaction representative sent a Certificate in the Discount Transaction (in Form 04A-NHNN-CK) by post office, fax or submit directly to the State Bank (Exchange or House Bank). The branch country is authorized and the Bureau of Information Technology, each unit 1 registration papers) to be granted the access code, the electronic signature code and the devolve in the discount transaction.

Where there is a change in personnel participation in the discount business with the State Bank, as soon as the decision to replace the cadres of the credit organization, the foreign bank branch is in effect, the credit organization, the foreign bank branch must send the Paper. proposed the new level and recall the access code, electronic signature code participation in the discount business (according to the 40B/NHNN-CK Form) by post, fax or direct submission to the State Bank (the Exchange or State Bank of the authorized branch state and the Federal Reserve Bank). Information technology, each of the 1 units of registration 1 paper, to be granted access code, the electronic signature code, and the distribution rights in the discount transaction.

In the 2-day period of the next working day since the date of receiving enough records, the State Bank (the Department of Exchange or State Bank is authorized by the authorized branch and the Bureau of Technology) performs a new level and retrieval of access codes, electronic signature codes. For employees to participate in the discount business of the credit organization, the foreign bank branch;

b) Credit organizations, foreign bank branches that have a need for discounted paper prices through the transaction representative deposit 1 Paper discount (according to Form 05 /NHNN-CK) through the State Bank trust network system (Exchange or Budget) The state of the state is authorized by the government.

c) Based on the discount offer Paper and the unusable discount of the credit organization, foreign bank branch, State Bank review decision and acceptance notice (according to the 07A/NHNN-CK Form) or notification of unacceptable (according to the Form). number 07B/NHNN-CK) for a 1-day period of work since receiving the discount offer of the credit organization, the foreign bank branch.

3. The case at the time of the discounted announcement, the discount balance of the credit organization, the foreign bank branch at the State Bank greater than the discount rate announced, the discounted discounts that have been made before it still remain. It ' s done by commitment. The State Bank has only continued the discount for credit organization, foreign bank branch as the number of discount balances is smaller than the reported discount of the credit organization, the foreign bank branch.

What? 14. Deliver and reimbursate the discounted price

1. In a maximum of 15 working days, since the day the State Bank has announced the acceptance of discounts, credit organizations, foreign bank branches offer discounts that conduct ownership procedures and hand over the price of paper priced to the Bank. The State.

2. In the 1-day period of work, after the credit organization, the foreign bank branch has completed enough of the procedures to transfer ownership and deliver valuable paperwork to the State Bank, the State Bank transferred money to the credit organization, the branch said. Foreign bank.

The case for discounted price paper discounts, the slog of 2 days of follow-up work since the day the State Bank has announced a discount, credit organization, foreign bank branch sent 01 Paper pledged to acquire valuable paper (according to the Digital Form). 06 /NHNN-CK) about the State Bank (the Department of Exchange or State Bank is authorized). In the 1-day period of work, after the credit organization, the foreign bank branch has completed enough of the procedures to transfer ownership and deliver valuable paperwork to the State Bank, the State Bank transferred money to the credit organization, the branch said. Foreign bank.

3. At the end of the discount period (the discount case with a term), the credit organization, the foreign bank branch payment of the money purchase payment is priced to the State Bank and the return of the paper priced in accordance with the pledge.

What? 15. The cases do not accept discounts

1. The credit organization, the foreign bank branch that has used an expiration of the discount.

2. The discount profile does not meet the regulatory conditions at this Smart.

What? 16. The formula determines the amount of payment when the paper discount is priced from credit organizations, the foreign bank branch of the country.

1. The case of discounting the whole remaining deadline:

1.1. For the paper with the price of interest payments as soon as the release:

1.1.1. For short-term price paper, interest payments upon release:

In it:

G: The amount of State Bank payment when the paper discount is priced;

MG: The price of paper cost.

T: The rest of the paper costs (number of days);

L: The discount rate at the time the Bank of State Bank discount the available paper (%/year);

365: The number of days the convention is for a year.

1.1.2. For long-term price paper, interest payments immediately upon release:

In it:

G: The amount of State Bank payment when the paper discount is priced;

MG: The price of paper cost.

T: The rest of the paper costs (number of days);

L: The discount rate at the time the Bank of State Bank discount the available paper (%/year);

365: The number of days the convention is for a year.

1.2. For the paper with the original payment price, interest one time when it comes to a deadline:

1.2.1. For short-priced paper, original payment, interest once upon arrival:

In it:

Ls What? n

GT = MG x (1 + _____)

365

G: The amount of State Bank payment when the paper discount is priced;

GT: The value of the paper costs when it comes to payment limits, including price and interest;

MG: Fates.

T: The rest of the paper costs (number of days);

L: The discount rate at the time the Bank of State Bank discount the available paper (%/year);

365: The number of days the convention is for a year.

Ls: The release rate of the paper costs (%/year);

n: The price of paper costs (number of days).

1.2.2. For long-term price paper, original payment, interest once upon arrival (non-input interest):

In it: GT = MG x [1 + (Ls x n)]

G: The amount of State Bank payment when the paper discount is priced;

GT: The value of the paper costs when it comes to payment limits, including price and interest;

MG: Fates.

T: The rest of the paper costs (number of days);

L: The discount rate at the time the Bank of State Bank discount the available paper (%/year);

365: The number of days the convention is for a year.

Ls: The release rate of the paper costs (%/year);

n: The price of paper is priced (year).

1.2.3. For long-term price paper, original payment, interest once upon arrival (original interest rate):

In it: GT = MG x (1 + Ls) n

G: The amount of State Bank payment when the paper discount is priced;

GT: The value of the paper costs when it comes to payment limits, including price and interest;

MG: Fates.

T: The rest of the paper costs (number of days);

L: The discount rate at the time the Bank of State Bank discount the available paper (%/year);

365: The number of days the convention is for a year.

Ls: The release rate of the paper costs (%/year);

n: The price of paper is priced (year).

1.3. For long-term price paper, original payment and recurring interest:

In it:

G: The amount of State Bank payment when the paper discount is priced;

- i : The amount of payment of interest, the root of the first time;

i: The payment of interest, the root of the fourth;

L: The discount rate at the time the Bank of State Bank discount the available paper (%/year);

365: The number of days the convention is for a year.

: Number of interest payments in one year;

I i : The deadline from the discount date to the date of interest payments, the original (number of days);

2. The discount case has a term:

2.1. The formula identifies the amount of State Bank payment for credit organizations, the branch of the foreign bank, when the price of the paper is priced (the price of dimension) is calculated as the formula one thing.

2.2. The formula identifies the amount of credit organizations, the foreign bank branch of the foreign bank for the State Bank at the end of the discount deadline (afternoon price):

In it:

Gv: The amount of credit organizations, the foreign bank branch out of payment for the State Bank at the end of the discount period;

G: The amount of State Bank payment when the paper discount is priced;

L: The discount rate at the time the Bank of State Bank discount the available paper (%/year);

Tb: discount term (calculation by date);

365: The number of days the convention is for a year.

What? 17. Waste Processing

1. After 1 day of work, since the expiration date of the discount (the discounted discount case) the credit organization, the foreign bank branch is discounted not to perform payment or payment not enough for the State Bank to rereceive valuable paper. According to the pledge, the State Bank will extract the deposit account of the credit organization, the foreign bank branch at the State Bank to collect the debt.

In the case of the credit organization ' s deposit, the foreign bank branch is discounted without or not enough money, the State Bank applies the following measures:

a) To collect debt from other sources (if any) of the credit organization, the foreign bank branch;

b) The amount of money missing to the overdue debt and credit organization, the foreign bank branch is subject to an overdue interest rate of 150% discount rate;

c) Set up a result of a breach of the breach to the credit organization, the foreign bank branch.

2. After 3 working days, since the Bank of State Bank has a violation of the breach, credit organization, foreign bank branch that is discounted not to make payments to the State Bank, the State Bank will consider selling its price papers on the bank. the credit organization, the foreign bank branch that the State Bank is holding on the currency market to recover the amount of money that is missing by regulation. The credit organization, the foreign bank branch, will not be part of the discount business with the State Bank for a period of six months, since the date of the recipient ' s announcement of the breach.

3. The case of a credit organization, the foreign bank branch, offers discounts that do not make the right regulations at Article 1 Article 14 This information is like a credit organization, the foreign bank branch that has canceled the discount offer twice the organization. Credit, the foreign bank branch out there will not continue to participate in the discount business with the State Bank for a six-month period, since the State Bank has announced a discount on the second discount.

Chapter III

THE ORGANIZATION.

What? 18. The responsibility of the credit organization, the foreign bank branch

1. Provided in full, timely filing, document prescribed at this Smart, and is responsible to the law on the accuracy, legalization of the data, the document provided to the State Bank.

2. Send a profile offering to announce a discount, a discount proposal, and a paper pledge to purchase the valid documents of the Bank of the State.

3. Make the right of full commitments and payments, on time for the State Bank when performing a discount business.

4. Make the procedures on the transfer of ownership, hand over the valuable paper between the credit organization, the foreign bank branch with the State Bank when performing a discount business with the State Bank.

5. Make a serious implementation of the requirements in the State Bank ' s announcement of debt processing.

What? 19. The responsibility of the relevant units of the State Bank.

1. Monetary Policy

a) Host, in coordination with related units that determine the amount of money supply to the eclecetization business that once the Governor of the Bank of State approved;

b) Staff to the Governor of the State Bank to define and publish discounted rates;

c) Coordinated with related units addressing difficulties, entanging during the process of performing a discount.

2. Credit:

a) The Chair, in collaboration with the State Bank Board of Governors that determines the field of State Bank prioritization of discounting in each period;

b) Public implementation of the allocation of discounts for credit organization, foreign bank branch on the basis of a total of discounted discounts for the discount priority sector;

c) Announces discounts for credit organizations, foreign bank branches and the Department of Exchange; and more.

d) presided over, in coordination with the Federal Bank's Governors-related units that add or adjust the portfolio of valuable documents discounted by the State Bank as needed;

In addition to the allocation and implementation of a discount business from the Exchange and the State Bank of the State Bank is authorized by the quarter to report the Governor of the State Bank.

3. The Exchange

a) Guide to the process of implementing a valuable paper discount transaction at the Exchange and State Bank of the Branch State authorized;

b) Perform a discount business for credit organizations, foreign bank affiliates on the rate of discounts that have been notified, revoked the original debt and interest in regulation at this Information;

c) The organization of the exchange, retention, preservation of the paper cost is discounted, document records, repayment of valuable paper and paper accounting for prescribed value;

d) The lead, in coordination with relevant units handling problems of transferring ownership of valuable paper and handling difficulties, entangled in the process of performing a discount;

) Implementing the price paper on the price used to discount at the State Bank by regulation, confirming the price of a credit card of the credit organization, the foreign bank branch of the foreign bank offer discounts on the case of a credit organization, the bank branch. Foreign goods offer discounts on the Bank of the State Bank;

e) Make the procedures on the transfer of ownership of a valuable paper between the State Bank with a credit organization, the foreign bank branch when performing a discount business with the State Bank;

g) Set up and dispose of the breach to credit organizations, foreign bank branches violations of the breach of the purchase of valuable documents in accordance with Article 17 of this article;

h) A quarterly case of aggregable synthesis of the entire system's extracting business of the Governor of the Bank of the State of the Bank report, while sending the Case of Credit and Monetary Policy (according to Form 08 /NHNN-CK);

i) Attend to the Governor of the State Bank in authoritalization of the provincial branch of the provincial branch of the provincial branch, the central direct city that performs all or part of a discount for credit organizations, the foreign bank branch on the country. The table.

4. Accounting-Finance

The guide performs accounting accounting in relation to the discount business.

5. Information Technology Bureau

a) Coordinate with the Department of Exchange in the new level and unzip code of access, electronic signature codes for HR business participation personnel and credit organizations, foreign bank branches participating in the discount business;

b) is responsible for the construction of a business software program, engineering, transmission line, and coordination with the Exchange in technical processing to ensure the transparent media and the discount business transactions are timely, safe, accurate.

6. The Branch State Bank is authorized

a) Implementation Of The Discount for credit organizations, the branch of the foreign bank under the scope of the authorized range;

b) The quarterly periodic report of the results of a discount transaction on the site of the Credits and the Exchange (according to Form 08 /NHNN-CK).

7. Bank monitoring agency

Coordinate the credit situation of the credit organization, the foreign bank branch of the foreign bank for the Credit Case when required.

What? 20.

1. This information is in effect since March 31, 2012 and replaces the No. 1 Decision. 898 /2003/QD-NHNN August 12, 2003 of the State Bank on the enacuation of the discounting Regulation, rediscounting of the State Bank for banks, Decision No. 12 /2008/QD-NHNN April 29, 2008 of the State Bank on the amendment, some of the provisions of the discount rule, rediscount the Bank Bank ' s price paper on the Bank of the Bank issued with Decision No. 1. 898 /2003/QD-NHNN August 12, 2003, Article 1 Digital News 26 /2011/TT-NHNN August 31, 2011 of the State Bank of the State Bank for the implementation of the Simple Method of Simplification of currency operations in accordance with Government Resolution.

2. Chief of Staff, Chief Credit Officer and Head of Units of the State Bank, Director of the State Bank of the State Branch of the Provinces, City of the Central Committee; Chairman of the Board, Chairman of the Board, General Manager (Monitor). Credit organizations, the Central People's Credit Foundation, the foreign bank branch is responsible for this information.

KT. GOVERNOR.
Vice Governor.

(signed)

Nguyen Co-Progress