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Circular 07 Tc/tcđn: A Guide To Managing And Operating The Exchange's Fund Of The State

Original Language Title: Thông tư 07 TC/TCĐN: Hướng dẫn việc quản lý và điều hành qũy ngoại tệ tập trung của nhà nước

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FINANCE MINISTRY
Number: 07 TC/TCN
THE SOCIALIST REPUBLIC OF VIETNAM.
Independence-Freedom-Happiness
Nationwide, March 28, 1994

IT ' S SMART

Guide the management and run of the state ' s centralized foreign fund.

__________________________

To determine the function, the duties of the financial agency and the Bank in the control of the state ' s centralized foreign currency fund, after the exchange of unity with the State Bank (Central Bank of Foreign Trade), the Ministry of Finance is temporarily oriented. Lead some of the following:

A. GENERAL REGULATION:

The revenues, the foreign currency's foreign currency fund, were all accounted for by the 120 "State Foreign Currency Deposit" account opened at the Central Foreign Trade Bank.

The above account is open and monitored separately for the free currency switching and separately for the transfer bank.

For the Ministry of Finance to have regulatory conditions, the analysis was obtained by the state foreign currency fund, the state foreign currency deposit account was opened in the following detailed substates:

120-001 foreign trade income

120-002 outstanding loan debt

120-003 foreign aid income

120-004 foreign currency in labor cooperation and expert

120-005 foreign currency income

120-006 other revenues by foreign currency.

The sources of the collection must be correct in the prescribed substates, and when it comes from which source must be decided by the account holder.

The state's foreign currency deposit account, as well as the substates of this account, is used by the yuan, and does not mean by the Vietnamese currency.

The state's foreign currency deposit account is opened at the Central Bank of Foreign Trade and in all the branches of the Foreign Trade Bank of Vietnam.

The state of the State of the Republic funds is as follows:

-Download the state foreign currency deposit provided by the Minister of Finance as the account holder opened at the Central Bank of Vietnam Central.

-All the Vietnamese Foreign Trade Bank branch of the Vietnam Foreign Trade Bank only proceeds to the account of the state foreign currency deposit unaccounted for, all expenditures are made in the Central Bank of the Central Bank.

Every day the branch of the Vietnamese Foreign Trade Bank has to telegraph and transfer the State 's foreign exchange on the Central Foreign Trade Bank into account of the "State Foreign Currency Deposit" account and the analysis put into the respective states' respective states. at the Central Bank of Foreign Trade and daily send the "Yes" paper to the Ministry of Finance to monitor.

B. TO THE FREE FOREIGN CURRENCY

1) State foreign sources of foreign currency are accounted for by the Foreign Trade Bank in the "State of the State Foreign Fund" account including:

-The entire foreign currency export business, the foreign currency exchange business is capitalized on the balance of goods.

-The foreign currency of the XNK business organizations, the service business of the ministries, the industry, the local market for the sale of foreign currency to the State.

-Foreign foreign currency for the State Loan.

-Foreign foreign currency aid (including the humanitarian aid of international organizations, etc.)

-Non-trade foreign currency revenues (including foreign currency purchases of representative agencies and international organizations and individuals of these international organizations generally reside in Vietnam).

-The foreign exchange for labor and expert cooperation.

-Other currencies such as: the payment of fines, unsecured legal money, the confiscated customs were processed, the taxpayer money; the fees paid by the firms had foreign investment in Vietnam; the commission was made by economic institutions and foreign companies. payment for the Vietnam Economic Organization ...

2) Regulatory regulation from the account "deposit of state foreign currency"

The general principle in the management of foreign currency from the account "State foreign currency deposit" account is the planned base of the Council of Ministers. The Ministry of Finance announces the foreign currency level or currency spending order once for the ministries, industry and local.

a)

The Foreign Trade Bank is based on the limits of the Treasury Department, which is in the scope of that extent. Each time the bank of the bank sends a debt paper to the Ministry of Finance, which has a record number of expenses approved by the Ministry of Finance.

b) Chi follows the order of the same foreign currency:

It was ordered by the Treasury Department to review the Department of Foreign Affairs and send a debt paper to the Ministry of Finance.

In front of the eye, while not deploying the Ministry of Finance at local, the entire foreign currency stipulated at the point (a) and (b) above all made a focus on the account "State foreign currency deposit" account opened at the Bank of Foreign Affairs. The Central Trade Center. However, in order to facilitate the units of the foreign cable State, the Central Foreign Trade Bank may base in to announce the extent of the foreign currency or the Ministry of Finance ' s foreign currency, the foreign currency transfer has been approved by the Ministry of Finance. The Bank branch of the Bank is subordinate to the expense of the ladies.

c) For foreign debt payments (including the original debt and interest-including the overdue interest).

On the basis of a plan to pay foreign debt approved by the state, quarterly Finance Ministry and the Central Bank of Foreign Trade agreed to a specific debt plan for that quarter, including payment of the original debt and interest debt (including overdue interest).

+ For the original debt payout to the private or for international organizations, the Ministry of Finance will issue a currency order from the state foreign currency deposit account so that the Central Foreign Trade Bank pay foreign currency.

+ For the return of interest (including overdue interest): due to the complex nature of interest rates that arise, the Ministry of Finance and the Central Bank of Foreign Trade needs concrete concrete planning and based on plans that have been agreed on the opponents that need to be paid. Interest in the quarter, the Central Bank of Foreign Trade is allowed to pay interest from the "State Foreign Fund Foreign Fund" account, which then sends a debt paper to the Ministry of Finance to monitor.

3) On foreign currency purchases and sales rates.

-In all revenues into the "State Foreign Foreign Fund deposit" account as stipulated at what (2) said above, the foreign currency receivship issued by business organizations, the service business of the ministries, the sector, the sale of obligations to the State, the ministry said. The financial cost of Vietnam to buy by the Bank of Vietnam. All remaining revenues of the point (2) Direct accounting bank by yuan into account "State foreign currency deposit" account.

-XNK business organizations, service business, ministries, industries and local finance departments to spend on the need to import supplies, goods, spend on service operations (if available), spend on overseas business, funding for infrastructure and investment facilities, and business opportunities. Vietnam ' s representative overseas, etc., has to protect Vietnam at a rate issued by the State Bank at the time of foreign currency use to buy foreign currency issued by the Ministry of Finance.

To be convenient for the Foreign Trade System in the organization of the State ' s foreign currency purchase, the purchase of foreign currency and the accounting is regulated as follows:

+ The Ministry of Finance opens the account of "money deposit payments in Vietnam" at the Central Foreign Trade Bank. This account is calculated as follows:

- Party : The amount of Vietnam money earned by currency sales for the ministries, industry, local and the amount of Finance transferred from the Budget Fund to the account for foreign currency purchases.

To help the Ministry of Finance to track each source of revenue due to the sale of foreign currency, the Foreign Bank notes on the evidence from each of the specific content such as: sales of foreign currency for import needs, for the needs of overseas embassies, for the company to travel abroad. besides, for the annual payments of Vietnamese economic institutions to foreign economic institutions, for the need for service payment etc.

Debt : A specific amount of money has to pay for the ministries, the industry, the local to buy the foreign currency that the ministries, the industry, the local selling obligations to the State.

To handle the conflict between an open-only account focused on the Central Bank of Foreign Trade, while foreign currency refunds occur in most foreign bank branches, the Ministry of Finance and the Central Foreign Trade Center is actually unified. as follows:

The Foreign Bank branch is used in credit for foreign currency purchases of ministries, industries, and localities and then transfers it to the Foreign Trade Bank, the Central Bank of Foreign Trade records the foreign currency that has purchased the account. " The state foreign currency fund ", while also taking debt to the account" the money payment of the Vietnamese copper ", the number of Vietnamese VVs, corresponds to the number of foreign currencies purchased to return to the Bank of the Bank.

In principle, the "Pre-Vietnam Payment" account has always been "available". But in the event that this account is allowed to balance the 1 billion copper in a maximum minimum of 7 days, the balance or balance of the value of this account is to enjoy or receive interest rates at the expense of the specified bank.

4) On Report Mode

In order for the Ministry of Finance to regularly grasp the activity of the collection on accounts "state foreign currency funds and" State foreign currency deposit and "money deposit payment of the Vietnamese currency". The Ministry of Finance directly receives the above spoken evidence at the Central Bank of Foreign Affairs

-Episode truthday and sent to the Ministry of Finance a link from the Bank to Record "Debt" and write "Yes" of the accounts "state foreign currency deposit and account" deposits of payments in Vietnam ". The Ministry of Finance directly receives the following testimony at the Central Foreign Trade Bank.

-On October 10, 30, 30 months sent to the Ministry of Finance a copy of the collection situation, spending money deposit accounts of the State Foreign Fund and the money deposit account deposits in Vietnam.

-The quarterly sent to the Ministry of Finance reports aggregation of the real foreign debt under the quarterly debt plan that the two sides have agreed upon.

B. TO THE TRANSFER OF THE RUBLE

Due to the limited nature in the payment of the RCN, due to its centralized and planned external payment mechanism, the entire source of the RCN's revenues into the "State of the State foreign currency deposit" account opened at the Central Foreign Trade Bank. This account also does the yuan, not the "price" on the Vietnamese currency.

I. REGULATIONS ON ACCOUNT MANAGEMENT OF "STATE FOREIGN CURRENCY DEPOSIT" BY TRANSFER RUBLES.

1/RCN foreign revenues is calculated into the "State of State Foreign Currency Deposit" account consisting of:

-The foreign currency of the XNK business and services is not well-balanced but is paid by the state by the state by the State of Vietnam.

-The entire foreign currency exports by commodity exports, the services business of the ministries, the sector, the local to the Socialist Republic (MBES) are considered by the state to balance the balance.

-The entire term loan from the MBES.

-The entire debt loan, double-handed, double-handed government aid paid through the MBES.

-The PMD account balance is transferred to the state-state foreign currency deposit account by RCN.

The revenues on the Bank have all the RCN nuts on the account of the state foreign currency deposit by RCN and sent to the Ministry of Finance "paper There" a particular source of foreign revenues due to export, due to its service business, debt loan, etc. To watch. Separately, the bank service business must be sent to the export or service organization to monitor its revenues.

Business organizations that export imports and business businesses have to open a foreign currency account to track their business results. The file is as follows:

Party : sales accounting due to export or service business

The base to write to this account is that the "newspaper" copies of foreign affairs have paid off the export deposits or services of the Foreign Trade Bank.

Debt : The import of imported item-worth of supplies was paid to units that applied the balance of supplies among the 410 million RCN of 1989.

The base that lays on this account is the foreign currency ' s "debt" paper by the number of goods that the imported organizations have delivered (according to the balance mechanism 410 million RCN for the XK purchase procurement of 1989)

The quarterly requires that export business organizations and services submit a report to the account decision on the Ministry of Finance and the State Planning Commission. The report of the decision needs to clear the following content:

-The percentage (%) the unit receives an item on export revenue provided by the ministry of the executive order to acquire export goods.

-The total export revenue (the one with the account of the account).

-The value of the item is received.

For example, the Corporation of the Import (Foreign Ministry of Foreign Affairs) was considered by the Ministry of Economic Affairs to 90% of its goods to acquire export goods. The Corporation's Foreign Office account from January 1, 1989 to March 31, 1989 as follows:

There are 10 million RCN.

Debt-to-debt: 7 million RCN.

Thus, if a 90% physical balance is set, the total export of the U.S. handicrave is to receive an investment of 9 million RCN (10 million RCN x 90%). But actually the new company received 7 million RCN, so the State (UBKHNN) owes the company $2 million in supplies.

For export-export business units and the export service kiosk or as a service for the SFCN without being considered by the State of the Balance of Balance (such as export-to-export export, plan export, public wages ...) the entire business. Its own currency (shown by the entire number of "parties"). of the account said above). This foreign currency will be acquired by the White House in part or all of Vietnam's money or only partially acquired by the remaining Vietnamese money which will return to the unit by supplies of goods, goods.

The case of the foreign currency is determined by the payment of the payment by the state.

2/Regulations on the funds from the account account deposit of the State Foreign Foreign Fund in RCN.

-Bad foreign currency content from TK "money sent" State foreign currency fund by RCN including:

+ Expenses for imported money.

+ Compensation in part or all of the export proceeds by the buyer of the complaint.

+ Pay the value of the MBES bank.

+ Expenses paid off the loan rate.

+ Chi switched to non-commercial account.

-Due to the "automatic" nature of the MBES payment, the base on the Telex of MBES reports a shipment that we have to pay the foreign bank to make and debit the debt into the state foreign currency fund by RCN and inform the Ministry of Finance. The "Debt to Debt" paper to the Ministry of Finance needs to be clear:

+ Expenses paid imports to the export business organization.

+ Export compensation for the export business organization.

+ Expenses paid.

+ Pay interest.

+ Quote from the account of the state foreign currency deposit by RCN to a non-trade account to spend.

II. THE REGULATION ON THE MANAGEMENT OF THE RUBLE PAYMENT ACCOUNT CLEARING.

1/Account of the parallel Clearing ruble apply in trade payment

In the case of applying the parallel Clearing Payment payment method, the invented foreign currency was recorded "Yes" and wrote "Debt" to the State Clearing account. The management and payment mechanisms applicable as for the foreign currency RCN have compiled the MBES Bank.

2/The State deposit account of the non-trade

a) Open the account: Ministry of Finance opens a synthetic account at the Central Bank of Foreign Trade in order to manage all activities of Vietnam ' s non-trade in Vietnam with all of the countries under the Agreement on the Non-Trade Agreement.

The Ministry of Finance's "non-trade foreign deposit" account is as follows:

-Side: Reflecting all sources of non-trade, including foreign currency accounts from the foreign currency deposit account by RCN.

Debt: A total of non-trade foreign currency expenditures under the order of the Ministry of Finance (Ministry of Finance issued non-trade foreign currency plan based on the annual non-trade foreign currency plan approved by the Council of Ministers).

b) The domestic units granted by the Ministry of Finance to the non-trade foreign currency must transfer the Vietnamese money to buy the number of yuan allocated by the exchange rate of trade agreements with foreign countries.

While doing this job, the Foreign Office sent the Finance Ministry a "Debt Alarm" paper on the withdrawal of the non-trade foreign currency deposit account and a "Yes report" paper on the domestic unit paying foreign currency. The amount of Vietnamese money obtained by the Foreign Trade Bank transferred to the Finance Ministry's "Money deposit" account at the Central Bank of the Central Bank.

c) To ensure the convenience of the Vietnam-Vietnam payment relationship with one of the countries participating in the Non-Trade Agreement and with the non-trade payment countries, the Central Bank of Foreign Trade, the Central Foreign Trade Bank, will open a non-trade payment account. trade with every country with a non-trade payment relationship with the south to monitor this collection operation. The money is transferred to the non-commercial account of our State in the countries to use, the Foreign Trade Bank will follow the order of the Treasury Department.

At the end of the year, when the account of the account of aggregation of the non-trade foreign currency, the Ministry of Finance will trade specifically with the Bank on the measure of treatment in the case of this account with the number of "debt" or "reserves".

This is effective January 1, 1989.

In the course of execution, if it is entangled, the Bank and the Corporation of Business Export-Import and Services Corporation will trade with the Ministry of Finance to replenicate the ./.

Minister.

(signed)

Wong.