Circulars on Foreign Exchange Management with respect to the transactions in government bonds in foreign currency issued by decision No. 211/QĐ-TTg dated 13 February 2009 of the Prime Minister pursuant to the law the State Bank of Vietnam on December 12, 1997 and amended Laws, supplementing a number of articles of the law on the State Bank of Vietnam on 17 June 2003;
Pursuant to Decree No. 96/2008/ND-CP on August 26, 2008 Government's functions, tasks, powers and structure of the State Bank of Vietnam;
Foreign Exchange Ordinance base 28/2005/UBTVQH11 on December 13, 2005;
Pursuant to Decree No. 160/2006/ND-CP on December 28, 2006 detailing the Government's enforcement of the Ordinance on foreign exchange;
Pursuant to decision No. 211/QD-TTg on October 13, 2009 by the Prime Minister on the issuance of government bonds in foreign currency on the domestic capital market;
The State Bank of Vietnam passed on management for Forex transactions in government bonds in foreign currency according to the decision No. 211/QĐ-TTg dated 13 February 2009 of the prime of organizations and individuals, as follows: article 1. Scope and objects 1. This circular adjust transactions in government bonds in foreign currency issued by decision No. 211/QĐ-TTg dated 13 February 2009 of the Prime Minister.
2. The object of the application this circular is the Organization, the individual is resident in legal activities in Vietnam participated in transactions in government bonds in foreign currency.
Article 2. Foreign currency sources to perform bond transactions 1. The Organization, the individual is resident used only of Exchange have on foreign currency deposit accounts opened at the credit institutions are allowed to perform foreign exchange operations transactions in government bonds in foreign currency.
2. The institutions may not use capital budgets or other support funds from the Government to buy government bonds in foreign currency.
Article 3. Open and use foreign currency deposit account to make the transaction of government bonds in foreign currency 1. Central securities depository and depository members open foreign currency deposit accounts at Bank payment specified under the regulations on Foreign Exchange Management to perform clearing Government bonds in foreign currency.
2. The organization, the individual is resident only used foreign currency deposit accounts in credit institutions are allowed to operate foreign exchange under the provisions of article 30 of Decree No. 160/2006/ND-CP dated 28 December 2006 from the Government to make the transactions of government bonds in foreign currency. Related to the transactions of government bonds in foreign currency, foreign currency deposit accounts are used for currency, as follows: a) on foreign currency deposit accounts: income from the sale of government bonds in foreign currency; Receive money interest, the original payment in foreign currency Government bonds when due; Currency from the receipt of the tender bond Trustees and other revenues related to trading activity in government bonds in foreign currency.
b) on foreign currency deposit accounts: the genus of Exchange to buy government bonds in foreign currency; The trust payment, transaction costs in government bonds in foreign currency and other expenses related to trading activity in government bonds in foreign currency.
Article 4. Mortgage bonds held, the individual is resident owned Government bonds in foreign currency are to pledge Government bonds in foreign currency to loans at the credit institutions are allowed to operate foreign exchange under the current provisions of the law.
Article 5. Implementation 1. This circular effect since 1 November 2009.
2. Office, Director of the Foreign Exchange Management, heads of units of the State Bank, Director of the State Bank branch in the province, central cities; Chairman of the Board and ceo (Director) credit institutions are allowed to operate foreign exchange is responsible for the implementation of this circular.