ORDINANCE on the STATE BANK of VIETNAM To determine responsibility for the governance of the State Bank of Vietnam in building and implementing the monetary policy of the State, facilitate the development of the economy of many components, consistent with the new economic structure change and mechanism of production and business management at the same time protecting the legitimate interests of the institutions and individuals;
Pursuant to article 19 and Article 100 of the Constitution of the Socialist Republic of Vietnam;
This Ordinance regulates the organisation and functioning of the State Bank of Vietnam chapter I GENERAL PROVISIONS article 1 the State Bank of Vietnam, call off and State Bank, is the Agency of the Council of Ministers, has the function of State management on the activities of currency, credit, banks in the country in order to stabilize the value of money; is the only authority to release the funds of the Socialist Republic of Vietnam.
Article 2 the State Bank is a legal entity, headquartered in capital Hanoi, has branches in places of need in the water and in the Foreign Office.
Article 3 the State Bank has the task, the following powers: 1-participation strategy, the plan of economic development-social, policies related to the activities of currency; construction of the project of the law on the activities of currency, credit, foreign exchange, payment and banking;
2-issued the regulation in its monetary, credit, foreign exchange, payment and banking; enforcing and inspecting the enforcement of the law on currency, credit, foreign exchange, payment and banking;
3-perform the role of the Bank against the credit institution;
4-adopt management measures to ensure the respect of the principles of operation of the credit institution;
5-organization in, casting, preserving the reserve money released, make profession released money and monetary management;
6-get and pay deposits of the State Treasury, foreign agencies and international organizations; for State budget loans, when necessary;
7-State management of foreign currencies and gold, formed the international balance of payments, make the Exchange, professional Forex trading on international markets;
8-the State preservation of foreign currencies and gold;
9-direct signed or authorized the signing of the international treaty on monetary, credit, foreign exchange, payment and banking;
10 to represent the Government in monetary institutions, credit, international banking;
11-inspection of credit institutions in the observance of legislation on monetary, credit, foreign exchange, payment and banking;
12-professional training organizations-banking techniques.
 
CHAPTER II ORGANIZATION of the STATE BANK section I ADMINISTRATOR STATEBANK 4 1 Thing-The State Bank governance by the Board.
2-the Board has the following duties and powers: a) to advise the Government on the issue of currency, economy and finances;
b) through the law projects, monetary policy, foreign exchange, credit and banking before the Governor of the State Bank of the Council of Ministers;
c) supervise all the agencies, units of the State Bank in the enforcement of duties;
d) decided to reserve ratio minimum required, discount rate, buy bonds and other safe rate for credit institutions;
e) decided the print business, casting, distribution, recovery, alternative, destroy paper money and coins;
g) through financing, settlement of the financial year and the annual report of the State Bank.
Article 5 the Board consists of members:-the President is the Governor of the State Bank;
-Vice Chairman is the Vice Governor;
-4 fellow deputy-level representatives of the Ministry of finance, Ministry of Commerce, the State Planning Commission, the State Committee for cooperation and investment;
-4 selected Commissioner of economic and monetary experts.
Members of the Board have to information about currency.
Article 6 the appointment and dismissal of members of the Board of representatives of the ministries, State committees, by the Secretary, the Chairman of the relevant Committee of the same State Bank Governor suggested, the President of the Council of Ministers decision.
The appointment and dismissal of the other members of the Board by the Governor of the State Bank proposal, Chairman of the Council of Ministers decision.
Article 7 term of each of the Commissioners of the Board is five years. After two and a half years of the first term, half of the Commissioners represented the ministries, commissions and half the other fellow was replaced by drawing. The Commissioners may be appointed.
Article 8 Not be appointed members of the Management Board: 1-both husband and wife; the three direct relatives; who are the members, shareholders of a company;
2-members of the Board, Chief Executive Officer, Director or employee of a credit institution;
3-Who are being prejudice to criminal or convicted of criminal offences.
 
Article 9 is no longer a member of the Board in the following cases: 1-violation of the provisions of article 8 of this Ordinance;
2-there is a petition to resign and was Chairman of the Council of Ministers approved;
3-capacity, condition to execute the mission and confirmed in accordance with the law.
Article 10 meeting of the Board must be present for at least 6 members of the Board, which must be the Chair or if the Chairman is absent, it must be the Vice President.
Article 11 the Board of Parliament by majority vote of the members present. In case of equal votes, the vote of the Chairman or Deputy Chairman presiding the session is decided.
Article 12 on the side of the Board has a Government supervisor. Supervisors to attend the session of the Board, has the power of speech but not vote; in case there are other comments with resolution of the Management Board, shall report the President of the Council of Ministers.
The appointment and dismissal of supervisors by the Chair of the Council of Ministers decision.
Article 13 of the regulations of the Board by the Chair of the Council of Ministers.
SECTION II STATE BANK OPERATING 14 1 Thing-the State Bank placed under the authority of the Governor of the State Bank. The Governor of the State Bank is a member of the Council of Ministers. The Governor has some of the Lieutenant Governor, including a Deputy Governor.
2-the Governor of the State Bank has the task, the following powers: a) convene and preside the sessions of the Board;
b) operating activities of the Bank;
c) organizational decisions, regulations of the agencies, units of the State Bank, the branch and Representative Office of the Bank;
d) appointment, dismissal, maneuver, reward, or discipline of employees under State Bank employees;
e) held a policy of monetary, credit, the Bank's regulations and resolutions of the Board;
g) within the powers assigned, signed the treaties and contracts on currency, credit, foreign exchange, payment and banking;
h) Sue civil litigation, recommendations to prosecute criminal cases, involving monetary activities, credit, foreign exchange, payment and banking;
I) on behalf of the Board the Chairman of the Council of Ministers an annual report on activity of the State Bank.
Article 15

1-Organization the State Bank inspectors under the authority of the Chief Inspector. The appointment, resignation and Chief Inspector of the State Bank by State Bank Governor suggested the State Inspector General, the President of the Council of Ministers decision.
2-State Bank inspectors perform inspections of credit institutions in the country and managing inspection for the agencies, units of the State Bank, according to the tasks and powers are stipulated in the Ordinance on inspection.
Article 16 the Institute of control activities of the agencies and units in the Bank due to the total control of the State Bank. Total control by the State Bank Governor appointed and dismissed.
Article 17 1-State Bank employees must keep the secret of the business operations of State banks, credit organizations, unless otherwise requested by the administrative authorities or the judiciary as specified by law.
2-State Bank employees are not abusing their position and their work relationships to receive remuneration or split the word under any kind of credit institutions.
Article 18 regulation of the State Bank officials led by Governor of the State Bank issued, after the President of the Council of Ministers for approval.
 
CHAPTER III capital, FUNDS and FINANCIAL MANAGEMENT article 19 the State Bank has capital of State-owned, operates according to the principle of economic accounting.
Article 20 the Bank's profits last fiscal year each State is determined from the revenue source of interest, fees, commissions and other income sources, after deducting: 1-operational costs;
2-The reserves on risk, reduced the price of assets;
3-other reserves, if the Board finds it necessary, after the President of the Council of Ministers approved.
Article 21 the State Bank was quoting 10% of profits to reserve funds to implement national monetary policy.
Article 22 the State Bank's profits, after the establishment of the reserve fund as defined in article 21 of this Ordinance and the establishment of the Fund as prescribed by the State, if the rest of the State budget. In the case of losses, the State Bank of the Council of Ministers consider compensation levels.
Article 23 1-State Bank was not for the following objects: a) of its staff, including the members of the Board;
b) enterprises, agencies, organizations and individuals.
2-State banks not raising capital in the enterprises, organizations, institutions and established companies or enterprises for the purposes of business or conducting activities inconsistent with the function that this Ordinance rules.
Article 24 the Organization of accounting and bookkeeping and accounting of the State Bank must conform to the provisions of the law.
Article 25 1-financial year starting from July 1, ended last December 31 of every year.
2-within 3 months from the date of the end of the fiscal year, the Governor of the State Bank of the President of the Council of Ministers table properties and hole table interest rates together with the annual report of the State Bank; send Minister of finance tables annual interest losses.
 
CHAPTER IV the ACTIVITY of the STATE BANK 1 RELATIONS with MINISTRY of finance article 26 State Bank open account transactions to the State Treasury; in case there is no bank branch shall designate a State Bank made.
Article 27 the State Bank can deal with the Ministry of finance as agent for the State Treasury on the following activities: 1-left issue short term and long term;
2-Pay principal and interest on capital for the left.
Article 28 the State Bank is entitled to require the State Agency to provide the information, material, financial and economic analysis and advice to the Council of Ministers on economic policies, currency.
Article 29 1-State Bank involved to build the State budget plan, the Finance Ministry expected the total level of the budget for State Bank loans in the next financial year to the Council of Ministers.
2-State Bank agreed to finance the loan, advance, deposit, time limit, interest for the State Treasury.
3-The advance and loans guaranteed by the Treasury bonds by the Ministry of finance interest rates students assigned to the State Bank. The Treasury bond has a term of 180 days and a maximum possible transfer.
Article 30 the State Bank to preserve State reserves of foreign currencies and gold.
Article 31 State Bank can get to buy back Treasury bonds has a time limit not exceeding one year from the credit institution, or resale of Treasury bonds to credit institutions.
Article 32 the total number of loan and advance accounts for the State budget prescribed in article 29 of this Ordinance and the Treasury bonds that the State Bank to buy, the provisions of article 31 of this Ordinance shall not exceed the level that Congress decided; If the detection risk might exceed this limit, the Bank shall report promptly and propose measures to settle up the Council of Ministers.
SECTION II RELEASED MONEY Article 33 State Bank is the only agency issued paper money and coins, according to the level of being President of the Council of Ministers decision. The currency of the Socialist Republic of Vietnam is "bronze", the national symbol is "dd", international symbol is "USD".
Article 34 the State Bank decided the denomination, size, weight, and the characteristics of paper money and coins.
Article 35 banknotes and coins issued by the Bank is the legal currency is circulating and is making liquidity without restriction on the territory of the Socialist Republic of Vietnam.
Article 36 State Bank maintenance release reserve currency and ensure the supply of paper money, coins to meet the needs of circulation currency of national economy.
Article 37 State Bank regulatory classification standard money torn, damaged; process, procedures for culling money torn, damaged; replace the no longer appropriate; withdrawal, change money get torn, damaged in the process.
State Bank does not accept torn money changers, damaged by destructive behavior is no longer eligible to be changed.
Article 38 prohibits the following acts: 1-counterfeiting; storing, circulation of counterfeit money;
2-destructive paper money and coins;
3-use the coins to other purposes;
4-color variations, the face value of the coin intended to deceive;
5-reject does not get circulated banknotes and coins issued by the State Bank.
SECTION III RELATIONS with CREDIT INSTITUTIONS Article 39 State Bank licensed to operate and check credit organizations in Vietnam in the observance of legislation on monetary, credit, foreign exchange, payment and banking and enforce safety measures aimed at ensuring the timely ability to pay full, at the request of the customer, of the credit organization.
Article 40 State Bank opens deposit accounts for credit institutions and respect for the rights of the account holder.
Article 41 the State banks can lend and buy, sale, discount, discount of republished for valuable papers of credit institutions.
Article 42 State Bank only for the center of the credit institution, which does not directly lend to branches of credit institutions.
Article 43 State Bank announced the interest rate discount of republished, the minimum interest rates on deposits, the maximum on loans of credit organizations.
Article 44 State Bank has the right to oblige credit institutions maintain: 1-The statutory reserve fund;
2-other sources of money available to pay the deposit and debt, according to the regulations of the Bank;
3-the rate of obligatory minimum reserves and the other safety rate.
Article 45

State Bank regulations required reserves ratio of at least 10% and 35% at most on the entire deposits in credit institutions. In case of need, the Board of State Bank decided to increase the rate of 35% on the level of reserves and the State Bank charged interest for the increase.
State Bank regulatory fines for institutions and violate this.
Article 46 depending on the type of credit institutions, the Bank limited State regulation of business, commissions, service fees.
Article 47 State Bank clearing organizations between credit institutions.
Article 48 State Bank are released, buy, sell bonds and held control of the currency market.
Article 49 the State Bank in collaboration with the Ministry of finance organized securities market in accordance with the law.
Chapter V article 50 FOREX In the State management of foreign exchange, the State Bank has the task, the following powers: 1-building the project of the law on Foreign Exchange Management;
2-text issued guidelines on Foreign Exchange Management, organization and check the implementation of the law on foreign exchange;
3-granted, revoked the license for foreign exchange activities with organizations and individuals;
4-determine and announce rates of Vietnam;
5-Establish and monitor the international balance of payments; track credit relations with foreign countries and international organizations; organize and regulate the domestic exchange market, Forex trading on international markets.
Article 51 1-all activities, import, purchase, sale, store, transfer and foreign exchange payment must be made according to the regulations of the State on Foreign Exchange Management.
2-The Forex management must follow the following rules: a) All proceeds of foreign currency on the export of goods and services from foreign countries have to move out of the country through banks are State Bank allows;
b) Organization, Vietnam citizens not to open an account and send foreign currency abroad, except with the State Bank allowed;
c) all activities of buying and selling goods and services in Vietnam are made in Vietnam, except state bank licensed to operate in foreign currency;
d) organizations in Vietnam have foreign currency, outside the norm was to leave under the provisions of the State on Foreign Exchange Management, have to sell the Bank, Forex trading is allowed or sold at the exchange market in the country by the State Bank of the Organization; When there is demand, the purchase of foreign currency in the Bank or in the exchange market in the country;
e) Vietnam citizens have foreign currencies the Bank is allowed to sell to Forex trading; When wishing then buy in the Bank according to the regulations of the State on Foreign Exchange Management;
g) Organization, personal investment, foreign bank branches in Vietnam joint venture Bank, foreign currency transfers from abroad into Vietnam and from Vietnam to foreign countries must comply with the provisions of the law on foreign investment in Vietnam and the State's regulations on Foreign Exchange Management;
h) any debt, repayment, loan, foreign debt recovery must be done through banks are State Bank allows. The case of the economic organization of debt repayment, with foreign trade credit form must report the State Bank;
I) organised permitted trading Forex has the responsibility to report the State Bank on Forex operations as stipulated by the State Bank.
CHAPTER VI HANDLING of breach of article 52 Who revealed secrets about the activity of the State Bank or credit organization, violates the prohibition relating to banknotes and coins, do not reserve levels Executive, in violation of the regulations on Foreign Exchange Management and the other provisions of this Ordinance then, depending on the level of mild or severe that was disciplined, the administrative sanction or prejudice criminal liability under the law.
Article 53 The advantage of position and powers cover the violation of this Ordinance, take advantage of staff benefits career titles, violating the regulations of Bank officials, according to the level of mild or severe that was disciplined, the administrative sanction or prejudice criminal liability under the law.
 
CHAPTER VII FINAL PROVISIONS Article 54 of this Ordinance has effect as from October 1, 1990.
Article 55 The previous provisions contrary to this Ordinance are repealed.
Hanoi, 23 May 1990