The LAW on the State Bank of Vietnam To build and enforce effective national monetary policy; strengthening governance of monetary and banking operations; contribute to the development of the economy of goods according to the market mechanism, the management of the State, socialist-oriented; protect the interests of the State, the legitimate rights and interests of organizations and individuals;
Pursuant to the Constitution of the Socialist Republic of Vietnam in 1992;
The law rules of the State Bank of Vietnam, chapter I GENERAL PROVISIONS article 1. The location, the function of the State Bank of Vietnam 1. The State Bank of Vietnam (hereinafter the Bank) is the Agency of the Government and the Central Bank of the Republic of Vietnam Socialist.
2. State Bank of performing State management functions of monetary and banking operations; as the Bank released the funds, Bank of credit institutions and banks make money for government services.
3. The activity of the State Bank in order to stabilize the value of money, helping to assure the banking system and the credit organizations, promote socio-economic development under the Socialist orientation.
4. State Bank is a legal entity, have the capital to state-owned; Headquartered in capital Hanoi.
Article 2. National monetary policy monetary policy is part of the national economic policy-the State's finances in order to stabilize the value of the currency, restrain inflation, helping to promote socio-economic development, ensuring defense, security and improve the lives of the people.
State management of all activities of the Bank; There is a policy to encourage domestic resources is key, enlist the maximum resources outside the country, promoting the general power of the economic sectors; ensure the dominant role and the State institutions in the field of money and banking activities; keep to the Socialist orientation, national sovereignty; expand collaboration and integration; meet the requirements of socio-economic development, contributing to the realization of industrialization and modernization of the country.
Article 3. Decision and implementation of national monetary policy 1. Congress to decide and monitor the implementation of national monetary policy, the expected annual inflation in correlation with balancing the State budget and economic growth.
2. The President made those duties and powers by the Constitution and the law in the negotiation, signing, joining, ratification of international treaties, international agreements on behalf of the State of the Socialist Republic of Vietnam financial sector, monetary and banking operations.
3. Government project construction of national monetary policies, inflation expected the annual Congress of the decision; implementation of national monetary policy; decide the amount of the additional provision for annual circulation, aim to use this money and periodically report the commissions of the National Assembly; the specific policy decisions and implementation solutions.
Article 4. The Advisory Council of the national monetary policy 1. The Government established the Advisory Council to the national monetary policy to advise the Government in deciding the issues in the mission and powers of the Government on monetary policy.
2. the Advisory Council to the national monetary policy include: the President is a Deputy Prime Minister, the Permanent Commissioner is the Governor of the State Bank, the other Councillor representative is the Ministry of finance, the Ministry of planning and investment, the other relevant ministries, sectors and experts on the banking sector.
3. duties and powers of the Advisory Council of the national monetary policy due to government regulations.
Article 5. Duties and powers of the State Bank of the State Bank has the following powers and duties: 1. in the implementation of State management functionality: a) join building strategies and plans of social-economic development of the State;
b) formulation of national monetary policies to the Government to consider the Congress decision and implementation of this policy; building strategies developed banking system and credit institutions in Vietnam;
c) construction projects, laws and ordinances and other monetary and banking operations; enacting the legal texts on monetary and banking operations by the authority;
d), revoke the license and the activities of the credit institution, unless otherwise decided by the Prime Minister; granted, revoked the license of Bank activities with other organizations; the decision, approved the split, split, merge, merged credit institutions in accordance with the law;
DD) check, the Inspector of banking activities; credit control; handling of breaking the law in the field of money and banking operations by the authority;
e) manage the repayment of foreign loans, the business of government regulations;
g) presiding, and track the results of the international balance of payments;
h) foreign exchange operations management and operations management;
I) signing, joining international treaties about the currency and banking activities under the provisions of the law;
k) represents the Socialist Republic of Vietnam in the monetary institutions and international banks in the case to be President, Government authorisation;
l) training organization, improving the Bank; research and application of science and technology in the Bank.
2. In performing the Central Bank function: a) held in, casting, preservation, transportation of money; professional implementation issue, revoke, replace and destroy the money;
b) make refinancing aimed at providing short-term credit and liquidity for the economy;
c) operating currency market; implementation of open market operations;
d) control over international reserves; management of foreign exchange reserves to the State;
DD) Organization of bank payment system, payment service, manage the provision of the means of payment;
e) agent and perform banking services for the State Treasury;
g) information systems and organization make the banking information service.
3. Implementation of other powers and duties prescribed by the law.
Article 6. The responsibility of ministries, ministerial agencies, government agencies, other agencies of the central State for bank operations 1. Ministries, ministerial agencies, government agencies, other agencies of the central State in the scope of its powers, duties and coordinate with the State Bank in the management of State monetary and banking operations.
2. The Ministry of finance in cooperation with the State Bank in the formulation of financial policy, the national currency, the expected total advance for the State budget for the next year and implement the provisions of this law regarding relations between the Ministry of finance with the State Bank.
Article 7. The responsibility of the people's Council, the people's Committee in implementing the law on currency and banking activities in the people's Council, the people's Committee in the scope of its powers, duties of monitoring, inspecting the enforcement of the law on currency and banking operations locally.
Article 8. The role of Vietnam Fatherland Front and the membership organization for the banking activities Vietnam Fatherland Front and the Member organization to join with the State authorities in supervising enforcement of the law on currency and banking activities; advocacy, lobbying organizations and individuals implement the provisions of the law on currency and banking activities.
Article 9. Explanation of terms In this law, the terms below are interpreted as follows:

1. The currency as means of payment, including paper money, coins and other valuable papers such as money.
2. Money market is short-term capital market, where to buy, sell the short-term valuable papers, including Treasury bills, Bank certificates of deposit, State and other short-term valuable papers.
3. Bank activity is the activity of currency trading and banking services with regular content is received and used this money to grant credit, provide the payment service.
4. open market business is business buy, sell the papers are short term rates by the State Bank made on the money market in order to implement national monetary policy.
5. Reserve requirement is the amount by which the credit institutions have to submit at the Bank to implement monetary policy.
6. Forex is foreign money, the international gold standard, the valuable papers and tools paid by foreign money.
7. foreign exchange activity is the investment, loan, loans, guarantees, purchase, sale and other transactions on Forex.
8. The exchange rate is the ratio between the values of the Council of Vietnam with the value of foreign currencies.
9. International reserves is foreign exchange reserves to the State by the State Bank and the foreign exchange reserve management of the credit institution is allowed to operate foreign exchange.
10. Refinancing is the form issued secured credit of State banks to provide short-term capital and liquidity for the Bank.
11. The lenders under a credit profile is the form of the refinance of the State Bank for the Bank was lending to customers.
12. the basic interest rate is the interest rate announced by the State Bank as the basis for the Organization of the fixed interest rate credit business.
13. Interest rate refinance interest rate is due to applicable State Bank when refinancing.
14. The interest rate discount of republished as form of refinancing interest rate applied when the State Bank re negotiable discount and other short-term valuable papers for credit institutions.
15. short-term valuable papers are papers cost less a year.
 
CHAPTER II ORGANIZATION of the STATE BANK of article 10. Organization 1. The State Bank is organized into focused, unified system including the operating system and business activities at Headquarters, the branch in the province, central cities, the representative offices in the country, in addition to water and subdivisions.
2. The organization, duties and powers of the Executive apparatus of the State Bank due to government regulations.
Article 11. Leadership and executive State Bank 1. The Governor of the State Bank (hereinafter referred to as the Governor) is a member of the Government, is responsible for leadership and executive State Bank.
2. The Governor has the following powers and duties: a) the direction, implementation of the duties and powers of the Bank prescribed in article 5 of this law and the regulations of the law on organization of the Government;
b) responsible to the Prime Minister, before the National Assembly on his field in charge;
c) legal representative State Bank.
Article 12. Branches and representative offices 1. Branch is dependent of the State Bank, subject to the Executive and leadership focus, consistency of the Governor.
Branch made the following powers and duties under the authorization of the Governor: a) check, the Inspector of banking operations on the area assigned;
b) granted, revoked license and banking operations of credit institutions and the banking license of other organizations; the decision, approved the split, split, merge, merged credit institutions;
c) make business loan refinance and payment;
d) provides payment services, Treasury and other banking services for credit institutions and State Treasury;
DD) made the other authorisation under the provisions of the law.
2. A representative office is the dependence of the State Bank, has the duty of representation under the authorization of the Governor. Representative offices are not conducting banking activities.
3. Governor rules the Organization, duties and powers of specific branches, representative offices of the Bank.
Article 13. The units 1. The State Bank has business units to perform the tasks of scientific research, training, information technology services, provision of information and the press specializing in the banking industry.
2. The Prime Minister decided to establish enterprises directly under the State Bank to provide specialized products that serve the banking activities.
Article 14. The responsibility of public officials in State Bank officers State Bank officials must implement the following provisions: 1. Hold the secret operations of State banks, credit organizations and secret deposits of customers in accordance with the law;
2. No advice, representation or collaborators for the Organization the currency, credit, trade, finance or other business organization, unless the law otherwise;
3. do not misuse his powers, positions to get bribes, harassment, personal benefits staff;
4. Perform other obligations of public officials under the law.
 
CHAPTER III OPERATION of STATE BANK 1 MADE a NATIONAL MONETARY POLICY article 15. The responsibility of the State Bank in implementing national monetary policies in implementing monetary policy, the National Bank is responsible for: 1. Host project construction of national monetary policies, the plan provides the amount of additional money for traffic in the Government;
2. The policy tool of national currency; do take money out of circulation, cash withdrawal from circulation of under the market's signal within the amount of money offered has been approved by the Government;
3. Government report, Congress the results of national monetary policy.
Article 16. Stuff made of national monetary policy To a policy of national currencies, the Bank uses the refinancing tool, interest rates, exchange rates, reserve, open market operations and other tools due to the Governor to decide.
Article 17. Form of refinancing Bank make the refinance to banks according to the following form: 1. The lenders under a credit profile;
2. Discount, discount negotiable and other short-term valuable papers;
3. Loans secured by commercial pledge votes and the other short-term valuable papers.
Article 18. State Bank interest rates determine and publish the basic interest rate and interest rate refinance.
Article 19. Exchange rates 1. The exchange rate of Vietnam is formed on the basis of supply and demand of foreign exchange in the market have of the State.
2. State Bank define and publish rates of Vietnam.
Article 20. Reserve 1. State Bank reserve ratio regulations required for each type of credit organizations and each type of deposit with varying from 0% to 20% of the total balance of deposits at each credit institution in each period.
2. The interest rate for deposit reserve requirement of each individual credit institution type, each type of deposit in each period due to government regulations.
Article 21. Open market operations the Bank conducted open market operations through the purchase of, sale of Treasury bills, certificates of deposit, Bank bills and papers have different short term rates on the money market to implement monetary policy.
Section 2-RELEASE PAPER MONEY and COINS

Article 22. Currency the currency of the Republic of Vietnam as "Socialist", is the national symbol "dd", international symbol is "USD"; a plain ten Hao, a dime by ten cents.
Article 23. Release of funds 1. The State Bank is the only authority to release the funds of the Socialist Republic of Vietnam, including paper money and coins.
2. Banknotes and coins issued by the State Bank is used as a means of payment is not restricted on the territory of the Socialist Republic of Vietnam.
3. State Bank of reserve money management released as specified by the Government.
4. State Bank guarantee supply sufficient quantity and structure of paper money, coins for the economy.
5. the release into circulation of money is property "debt" for the economy and is balanced by the property "There" of the State Bank.
Article 24. In, casting, preserve, transport, distribute, destroy money 1. The State Bank in denominations of design, size, weight, drawings, patterns and other features of paper money, coins the Prime Minister for approval.
2. State Bank of organizations make printing, minting, preserve, transport, distribute, destroy money.
Article 25. Handling money torn, damaged the State Bank regulatory classification standard money torn, damaged; in Exchange, recovered the torn, damaged by the process of circulation; do not change the torn, damaged due to acts of vandalism.
Article 26. Revoke, replace the money recovered by the State Bank and withdraw from circulation the currency is no longer appropriate and released the other alternative. The withdrawal was in Exchange for the kind of money other than the equivalent value within the time limit stipulated by the State Bank. After the time limit for currency change, the kind of money recovered is no longer of value.
Article 27. Money, money template, souvenir NBU held print job done, cast, sold in the country and abroad the templates, money design souvenirs served for the purpose of collection or other purposes prescribed by the Government.
Article 28. Issued and checked, monitoring the implementation of business rules to release money 1. The Government issued a business regulation released money include regulations on printing, minting, preserve, transport, distribute, revoke, replace, destruction of money and costs for professional activities released the money.
2. The Ministry of finance to check the implementation of business rules to release money; The Ministry of finance, the Ministry of Interior oversees the print process, casting, destroyed money.
Article 29. The prohibited acts prohibit the following acts: 1. Counterfeiting; transport, storage, circulation of counterfeit money;
2. Destroy the currency;
3. Refuse to receive, circulation coins issued by the State Bank.
ITEM 3 article 30 CREDIT ACTIVITY. Lending 1. The State Bank for credit institutions is borrowing short term bank refinancing form as defined in article 17 of this law.
2. in exceptional cases, when the Prime Minister approved, State Bank loans for credit institutions temporarily lost the ability to pay, there is the risk of losing the security systems of the credit institution.
3. non-State Bank loans for individuals and the Organization are not credit institutions provided for in the paragraph 1 and 2 of this Article.
Article 31. Guarantee State Bank does not guarantee for the Organization, personal loans, unless otherwise directed by the Prime Minister on the guarantee for the credit institutions of foreign loans.
Article 32. Advance to State budget State Bank advance to the central budget to handle a temporary shortage of funds the State budget according to the decision of the Prime Minister. This advance must be repaid in the year budget, excluding special cases due to the Prime Minister to decide.
Article 33. Capital contribution, purchase shares in State banks are not installment loans, buy stakes of credit organizations and other businesses.
ITEM 4 OPEN ACCOUNTS, PAYMENTS and TREASURY ACTIVITIES Article 34. Open account 1. State Bank opened accounts in foreign banks, the monetary institutions, international banks.
2. State Bank of open accounts and perform transactions for credit institutions in the country, foreign banks and monetary institutions, international banks.
3. State Bank to open accounts and make transactions for the State Treasury. in the district, the town is not the capital, the State Treasury accounts in a State commercial bank.
Article 35. Payment activities and funds 1. The State Bank held interbank payment system and provide payment services.
2. State Bank do services through the collection and distribution of cash to customers.
3. State Bank must make full, timely payment transactions in cash and non-cash at the request of the account holder.
4. Bank signing and implementation of the agreement on payment with foreign banks and monetary institutions, international banks under the provisions of the law.
Article 36. Agent for the State Treasury State Bank as agent for the State Treasury in the Organization of the procurement, distribution and payment of bills, Treasury bonds.
Section 5 FOREIGN EXCHANGE MANAGEMENT and FOREIGN EXCHANGE OPERATIONS Article 37. Duties and powers of the State Bank foreign exchange manager in the management of foreign exchange, the State Bank has the following powers and duties: 1. The construction projects of laws and ordinances and other projects on Foreign Exchange Management; issued legal documents on Foreign Exchange Management under authority;
2. Granted, revoked the license of foreign exchange operations;
3. Organization and administration of foreign exchange market and interbank foreign exchange market in the country;
4. test, inspection of the implementation of the provisions of the law on Foreign Exchange Management; control the Foreign Exchange import export;
5. Control the foreign exchange activities of the credit institution;
6. Perform the duties and powers of the management of foreign exchange under the provisions of the law.
Article 38. Management of foreign exchange reserves to the State 1. State foreign exchange reserves include: a) of foreign currency in cash, the balance of foreign currency on deposit accounts in foreign countries;
b) paper and the l/c accepted foreign debt in foreign currency;
c) government debt securities, foreign banks, monetary institutions or international banks, guarantee;
d) Gold;
DD) other currencies of the State.
2. State Bank of foreign exchange reserve management state of the Socialist Republic of Vietnam under the rule of the Government to implement national monetary policy, ensuring the possibility of international payments, conservation of foreign reserves.
3. The use of foreign reserves for the sudden, urgent needs of State Government by the Prime Minister to decide.
4. State Bank reports the Government and National Assembly Committee about the situation of the foreign exchange reserve volatility State.
5. The Ministry of finance to check the management of foreign reserves by the Central Bank to follow government regulations.
Article 39. The foreign exchange operations of the Bank of the State Bank made the purchase, the sale of foreign exchange on the domestic market because of the goal of national monetary policies; buy, sell on the Forex international market and perform other transactions according to the regulations of the Government.
ITEM 6 INFORMATION ACTIVITIES 40 Thing. Collect and provide information

1. State Bank of organizations collect, analyze and forecast of domestic and foreign information on economic, financial, monetary and banking operations in order to serve the construction and administration of national monetary policy. The Organization departments have the responsibility to provide the necessary information for the State Bank as stipulated by the Government.
2. State Bank of Exchange and service information on currency, banking for credit institutions, other institutions and individuals.
Article 41. Publication information State Bank announces information on currency and banking activities. Governor regulates the scope, form and time of publication of this information.
Article 42. Protect confidential information responsibly State Bank building and the Government decided the list secret documents about currency and banking activities; protect State secrets, secrets of the State Bank and of customers in accordance with the law.
 
CHAPTER IV financial, ACCOUNTING and REPORTING of STATE BANK Article 43. Capital capital of the Bank by the State budget. The level of capital of the Bank by the Prime Minister to decide.
Article 44. Currency, finance, financial expenditure of the State Bank in principle follow the provisions of the law on the State budget. The Government regulated the content of the particular financial incomes and expenses consistent with the Bank's business activities in the State.
Article 45. Disparity of incomes and expenses of the Bank income disparity, the annual expenditure of the State Bank is determined from the source currency banking activity and the other source of revenue, after subtracting operating costs and reserves for risks. Article 46. State Bank funds from the disparity of incomes and expenses to fund the implementation of monetary policy in accordance with the national Government; the remainder to be paid into the State budget.
Article 47. Accounting of State Bank State Bank made according to accounting systems and accounting mode account vouchers under the provisions of the law on accounting, statistics.
Article 48. Audited financial statements of the State Bank to be audited annual State Audit and certification.
Article 49. Financial year, financial statements 1. The financial year of the Bank starting July 1 and ending on December 31 of the calendar year.
2. State Bank of implementing financial report mode under the provisions of the law.
 
Chapter V INSPECTION of the BANK, the TOTAL CONTROL of the STATE BANK of article 50. The banking inspection 1. Inspection of the Bank's specialist Inspector of the Bank, in the Bank's home country.
2. Relations between the Bank and the Ombudsman inspected by State law on inspection regulations.
3. The organization, duties and powers of the Inspector of banks due to government regulations.
Article 51. The audience, the purpose of the banking inspection 1. The object of the inspection of the Bank's organization and activities of the credit institution and its banking activities with other organizations.
2. The purpose of the Bank is to contribute inspectors ensure the safety systems of the credit institution, protect the legitimate rights and interests of depositors, serves the implementation of national monetary policy.
Article 52. Active content of Bank inspectors active content of Bank inspections include the following: 1. Inspect the observance of the law on currency and banking activities, the implementation of the provisions of the license of Bank operations;
2. Detection, deter and handle according to the authority; recommendations to the competent bodies handle violates the law on currency and banking activities;
3. Propose measures to ensure enforcement of the law on currency and banking activities.
Article 53. Powers of Inspector banks when conducting the inspection, the Inspector of the Bank has the following powers: 1. to request the object being inspected and the parties concerned to provide the documents, evidence and answer the issues related to the content of the Inspector;
2. Set the minutes and recommendations of measures;
3. adopt measures to prevent and handle breach under the provisions of the law.
Article 54. The responsibilities of the Inspector of banks when conducting the inspection, the Inspector of the Bank is responsible for: 1. Present decided to inspect and tag inspectors;
2. Make the right sequence, inspection procedures, not troubling, harassment hinders normal banking operations and cause damage to the legitimate interest of credit institutions and other institutions have banking activities;
3. report the Governor about the results and recommendations of measures;
4. Law abiding, responsible to the Governor and the law on the Ombudsman and the conclusions of all behavior, his decision.
Article 55. The right of the credit institution, other institutions have banking when Bank inspectors perform inspections When the Bank inspectors perform inspections, credit institutions, other institutions have banking activities have the following rights: 1. Require inspectors to present the Ombudsman decisions card, a surveyor and make laws for properly inspected;
2. Complaints, accusations, claims with the competent State agencies about the behavior of inspectors and the conclusions, the Ombudsman's decision that his bank is not correct;
3. Claims for damage caused by acts, improper processing decision the law of Bank inspectors.
Article 56. Obligations of credit institutions, other institutions have banking when Bank inspectors perform inspections When the Bank inspectors perform inspections, credit institutions, other institutions have banking activities have the following obligations: 1. to implement the requirements of the banking Ombudsman the Ombudsman about content;
2. Observance of the decisions of the banking inspection processing.
Article 57. Total control 1. Total control is part of the apparatus of the State Bank, have the following tasks: a) active control of the unit in the system of State banks;
b) internal audit for the unit perform central banking.
2. Organization, duties and powers of the total control by the Governor.
 
CHAPTER VI REWARDS and TREATS breach of article 58. Rewards organizations, individual achievement in banking activities, contribute to promoting socio-economic development, ensuring the safe operation of the system of the credit institution, they shall be rewarded according to the provisions of the law.
Article 59. Object and violations 1. The Organization, individuals are violations of the provisions of article 29 of this law; banking activities without license or operate beyond the scope set forth in the license; hindered, making it difficult for the inspection, the Inspector of the State Bank; violation of the provisions of this law and other provisions of the law on currency and banking activities, depending on the nature and extent of the violation that severely disciplined, administrative processing or prejudice criminal liability under the law.
2. Public Bank officials have violations of the provisions of article 14 of this law; the lack of accountability in conducting their duties, covering the Organization, individuals violating the provisions of this law and other provisions of the law on currency and banking activities, depending on the nature and extent of the violation being disciplined or prejudice criminal liability under the law.
3. In the case of organizations, individuals have the violations specified in clause 1 and 2 of this article, causing damage to the interests of the State or of the Organization, the individual must be compensated according to the provisions of the law.

Article 60. The authority of the State Bank on handling administrative violations in state banking authority handling administrative violations of individual organizations in the field of money and banking activities under the provisions of the law.
Article 61. Complaints, claims about the decision handling administrative violations 1. The Organization, the individual dealt with administrative violations in the field of money and banking activities have the right to complain against the decision handling administrative violations to the competent State agencies or in the courts. Complaints, claims made under the provisions of the law.
2. In the time to complain or sue, organizations, individuals dealt with administrative violations must still enforce the decision handling administrative violations. When a decision is made to resolve complaints by the competent State agencies or the verdict, the decision of the Court was in effect, the law enforcement under the complaint resolution decision of the authorized State body or by the verdict, the decision of the Court.
 
CHAPTER VII ENFORCEMENT PROVISIONS Article 62. Effect 1. This Act has effect as from October 1, 1998.
2. Ordinance on the State Bank of Vietnam on 23 May 1990 expired from the date of enforcement of this Law is in effect.
3. The Government, the Supreme People's Court, the Supreme People's Procuratorate in the scope of its powers, duties of organization reviewing the provisions of the law on currency and banking operations to cancel, modify, Supplement, issued new or proposed the National Assembly committees Parliament, cancel, modify, Supplement, issued in accordance with the new provisions of this law.
Article 63. Government enforcement guide detailing and guiding the implementation of this law.
 
 
This law was the National Assembly of the Socialist Republic of Vietnam Xth, second session passed on 12 December 1997.