Amendment of Circular on issuance of State Bank bills - Lang Son Newspaper: Latest news on politics, economy, society, culture

Credit institutions must purchase State Bank bills issued by compulsory method according to the Decision of the Governor of the State Bank.

State Bank Headquarters. (Photo: Vietnam+)

The Governor of the State Bank of Vietnam has just issued Circular 44/2024/TT-NHNN amending Clause 2, Article 2 of Circular 16/2019/TT-NHNN regulating the issuance of State Bank bills.

Accordingly, Circular 44 amends and supplements Clause 2, Article 2 of Circular 16/2019/TT-NHNN on the subjects of application as follows: Commercial banks, foreign bank branches, general finance companies, specialized finance companies, cooperative banks, policy banks (hereinafter referred to as credit institutions).

Thus, the subjects of application for the issuance of State Bank bills include: State Bank; Commercial banks, foreign bank branches, general finance companies, specialized finance companies, cooperative banks, policy banks (hereinafter referred to as credit institutions); Vietnam Deposit Insurance.

Regarding the method of issuing State Bank bills, it is still according to the provisions in Article 6 of Circular 16. Specifically, State Bank bills are issued by bidding or compulsory method.

Regarding issuance by bidding method, the issuance of State Bank bills by bidding method is carried out according to the State Bank's regulations on bidding through open market operations.

For compulsory issuance, based on monetary policy objectives in each period and actual situation, the State Bank decides to issue State Bank bills in a compulsory manner to credit institutions.

Credit institutions must purchase State Bank bills issued by compulsory method according to the Decision of the Governor of the State Bank. If necessary, the State Bank may consider repurchasing State Bank bills issued by compulsory method before maturity. The Governor of the State Bank shall decide on the repurchasing of State Bank bills issued by compulsory method before maturity.

Circular 44 takes effect from October 23, 2024./.

Source: https://baolangson.vn/sua-doi-thong-tu-ve-phat-hanh-tin-phieu-ngan-hang-nha-nuoc-5020492.html