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THE STATE BANK OF VIETNAM
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SOCIALIST REPUBLIC OF VIETNAM
Independence- Freedom – Happiness
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No. 1085/2003/QD-NHNN
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Hanoi, September 16, 2003
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DECISION
ON THE AMENDMENT, SUPPLEMENT OF
SEVERAL ARTICLES OF THE REGULATION ON OPEN MARKET OPERATION ISSUED IN
CONJUNCTION WITH THE DECISION No. 85/2000/QD-NHNN14 DATED 09 MARCH, 2000 AND
PARAGRAPH 4, ARTICLE 1 OF THE DECISION No. 1439/2001/QD-NHNN DATED 20 NOVEMBER,
2001 OF THE GOVERNOR OF THE STATE BANK OF VIETNAM
THE GOVERNOR OF THE STATE BANK
- Pursuant to the Law on the State Bank of Vietnam No.
01/1997/QH10 dated 12 December, 1997; the Law No. 10/2003/QH11 dated 17 June,
2003 on the amendment, supplement of several Articles of the Law on the State
Bank of Vietnam and the Law on the Credit Institutions No. 02/1997/QH10 dated
12 December, 1997;
- Pursuant to the Decree No. 86/2002/ND-CP dated 05 November, 2002 of the
Government providing for the function, assignment, authority and organization
structure of Ministries and ministerial-level agencies;
- Upon the proposal of the Director of the Credit Department,
DECIDES:
Article 1. To amend, supplement several Articles of the Regulation on
open market operation issued in conjunction with the Decision No.
85/2000/QD-NHNN14 dated 09 March, 2000 of the Governor of the State Bank of
Vietnam as follows:
1. Article 1 shall be amended as follows:
“Article 1. Governing scope and subjects of application
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2. Article 2, paragraph 1 and paragraph 4 shall be amended
as follows:
“1. Remaining period means the time calculated from the
purchasing, selling date of the valuable paper through the open market
operation till the maturity date of this valuable paper."
"4. Auction by volume shall be the determination of the
winning volume of credit institutions participating in the open market
operation on the basis of the volume put into auction by credit institutions,
volume of valuable papers to be purchased or sold and the interest rate
announced by the State Bank.
3. Article 8 shall be amended as follows:
“Article 8. Valuable papers to be transacted through open
market operations:
1. Treasury Bills;
2. State Bank bills;
3. Treasury Bonds;
4. Investment Bonds, the payment of which is made by the
central Budget;
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6. Other types of valuable paper provided for specific
period of time by the Governor of the State Bank.”
4. Article 12 paragraph 3 shall be amended as follows:
"3. Being registered with the State Bank in accordance
with the provision of the State Bank on the registration of valuable paper;”
5. Article 13 paragraph 1 point a shall be amended as
follows:
"a. The State Bank shall give notice to credit
institutions of the rate of auction interest. The Executive Committee of the
open market operation shall decide to notify or not in advance of the volume of
valuable paper, which need to be purchased or sold by the State Bank prior to
each auction session".
6. Article 14 Paragraph 2 point c shall be amended as
follows:
"c. Winning volume, winning interest rate of valuable
papers that the State Bank has purchased or sold through the open market
operation at the latest auction session;"
7. Article 15 paragraph 7 shall be amended as follows:
"7. Payment date of each type of valuable paper (in
case the State Bank sells);"
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9. Article 20 paragraph 1: to cancel the passage "at 14
p.m the auction day at the latest"
10. Article 21 paragraph 4, paragraph 5 and 6 shall be
amended as follows:
a. Paragraph 4: to repeal the paragraph 4
b. Paragraph 5: to repeal the passage "at 15.30 p.m on
the auction day at the latest "
c. Paragraph 6: to repeal the passage "prior to 16.30
p.m of the same day"
11. Article 25 paragraph 2, point b shall be amended as
follows:
"b. To recommend the Executive Committee of Open Market
Operation of the volume of valuable paper which needs to be purchased, sold, of
the required time limit of purchase and sale and expected interest rate levels
applicable to the purchase, sale of valuable paper".
12. Appendixes No. 01, 02, 03, 04, 05, 06 and 07 shall be amended and attached
with this Decision.
Article 2. To amend paragraph 4, Article 1 of the Decision No.
1439/2001/QD-NHNN dated 20 November, 2001 on the amendment of several Articles
in the Regulation on the open market operations issued in conjunction with the
Decision No. 85/2000/QD-NHNN14 dated 9 March, 2003 of the Governor of the State
Bank as follows:
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6. Volume needs to be purchased, sold in term of value as at
the maturity of valuable paper (except for the case where the Executive
Committee of the open market operation decides not to give notice in advance of
the volume, which the State Bank of Vietnam needs to purchase or sell)";
Article 3. This Decision shall be effective after 15 days from the
date of publication in the Official Gazette.
Article 4. The Head of the Administration Department, the Director of
Credit Institutions, the Director of the Banking Operation Department, the
Director of the Monetary Policy Department, Heads of units of the State Bank,
Managers of the State Bank branches in provinces and cities under the central
Government's management, Chairpersons of the Board of Directors, General
Director (Directors) of credit institutions participating in the open market
operation shall be responsible for the implementation of this Decision.
FOR THE GOVERNOR OF THE STATE BANK
DEPUTY GOVERNOR
Phung Khac Ke
Appendix No. 01/TTM
NAME OF CREDIT INSTITUTION
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No. …………….
Date:………………
REGISTRATION FOR PARTICIPATING IN THE OPEN MARKET
OPERATION
To: The State Bank of Vietnam
(The Banking
Operation Department)
Name of the Credit Institution:.....................................................................................
Address:...................................................................................................................
Telephone:....................................................... Fax:..................................................
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VND deposit account:....................................... at.....................................................
hereby registers to participate in the open market operation
at the State Bank and undertakes to fully comply with provisions of the
Regulation on open market operation.
We would like to introduce the signatures and apply for the
grant of signature codes to following persons for participating in the open
market operations:
Competent persons:
- The first
person:
- The second person:
Controllers:
- The first controller:
- The second controller:
Dealer (Drawer):
1. Dealer:
2. Dealer:
POSITION
THE FIRST SIGNATURE
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GENERAL DIRECTOR (DIRECTOR)
(Sign, seal)
(Full name)
Appendix No. 02/TTM
THE STATE BANK OF VIETNAM
OPERATION
DEPARTMENT
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No. -----------/TTM
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NOTICE OF PURCHASE OF VALUABLE PAPER
Date:……………………….
To:……………………………………………
Based on the Notice No.: ..............dated ……… by the
Executive Committee of the open market operation, the Banking Operation
Department of the State Bank gives hereby the Notice of Purchase auction of
valuable papers with following main contents:
- Auction date:
- Mode of auction:
- Form of offer appraisal:
- Payment date:
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Term of valuable paper
Form of valuable paper
Volume of valuable paper in terms
of value at its maturity date (VND million)
Purchasing interest rate [1] [1]
of valuable paper (% per annum)
Mode of Purchase
Outright purchase (maximum
remaining term of valuable paper)
Term purchase (purchase term)
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THE DIRECTOR OF THE BANKING
OPERATION DEPARTMENT
Appendix No. 03/TTM
STATE BANK OF VIETNAM
OPERATION
DEPARTMENT
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No. -----------/TTM
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NOTICE OF SALE OF VALUABLE PAPER
Date:……………………………
To:……………………………………………………..
Based on the Notice No.: ..............dated …………. by the
Executive Committee of the open market operation, the Banking Operation
Department of the State Bank gives hereby the Notice of sale auction of
valuable papers with following main contents:
- Auction date:
- Mode of auction:
- Form of offer appraisal:
- Payment date:
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Term of valuable paper
Form of valuable paper
Volume of valuable paper in terms
of value at its maturity date (VND million)
Selling interest rate [1] of valuable paper (% per
annum)
Mode of Sale
Outright sale (maximum remaining
term of valuable paper)
Term sale (sale term)
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THE DIRECTOR OF THE BANKING
OPERATION DEPARTMENT
Appendix No. 04/TTM
NAME OF CREDIT INSTITUTION
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Code:…………………..
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REGISTRATION FOR THE PURCHASE OF VALUABLE PAPER
Date:………………………
To: Banking Operation Department
Based on the Notice of Sale of valuable paper No. ………..dated…………..of
the Banking Operation Department, …………….(name of the credit institution) makes
hereby the Registration for the purchase of short-term valuable paper as
follows:
Name of valuable paper
Term of valuable paper
Form of valuable paper
Volume of valuable paper in terms
of value at its maturity date (VND million)
Maturity date of valuable paper
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Mode of Purchase
Purchase[4][2]
price
Outright purchase (maximum
remaining term of valuable paper)
Term purchase (purchase term)
In number
In words
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DEALER
(Signed)
CONTROLLER
(Signed)
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Appendix No. 05/TTM
NAME OF CREDIT INSTITUTION:
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Code:…………..
REGISTRATION FOR THE SALE OF VALUABLE PAPER
Date…………………………………
To: Banking Operation Department
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Name of valuable paper
Term of valuable paper
Form of valuable paper
Volume of valuable paper in terms
of value at its maturity date (VND million)
Maturity date of valuable paper
Interest rate [1] of auction participation (% per annum)
Mode of Purchase
Purchase [2] price
Outright purchase (maximum
remaining term of valuable paper)
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In number
In words
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DEALER
(Signed)
CONTROLLER
(Signed)
GENERAL DIRECTOR (DIRECTOR)
(Signed)
Appendix 06/TTM
(prepared by the selling party)
SOCIALIST REPUBLIC OF VIETNAM
Independence- Freedom - Happiness
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THE SALE AND REPURCHASE AGREEMENT FOR VALUABLE PAPER
Date:……………………………..
Based on the Decision No. 85/2000/QD-NHNN14 dated 9 March
2000 of the Governor of the State Bank on the issuance of the Regulation on the
Open market operation, the Decision No. ................ dated...............
on the amendment, supplement of several Articles in the Regulation on the open
market operation and the notice of the auction winning results dated
............. by the Banking Operation Department.
The selling party:................................................................ (hereinafter
referred to as party A)
Address:............................................................................................................................
Tel:.................................................................. Fax:...........................................................
Account No........................................................................................................................
The purchasing party.......................................................... (hereinafter
referred to as party B)
Address:............................................................................................................................
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Account No........................................................................................................................
The parties hereto agree on the contents of the Agreement as
follows (Form attached):
1. Party A agrees to sell valuable to party B at the price
of ……….(amount) for a period of…… (day number). Party A shall be responsible
for the delivery of valuable paper to Party B and Party B shall be responsible
to make full payment of the valuable paper to Party A on ……… (date of payment).
2. Party A commits to repurchase above-mentioned valuable
paper at the repurchase price of …….. (amount) at the expiration of the
Agreement. Party B shall be responsible to return above-mentioned valuable
paper to Party A and Party A shall be responsible to make full payment of the
repurchase of the valuable paper at……….. (the expiry date of the Agreement)
3. This Agreement shall be effective from ………….. The two
parties commit to comply with the agreed contents of this Agreement and
provisions of the Regulation on open market operation issued in conjunction
with the Decision No........... dated ................. of the Governor of the
State Bank.
REPRESENTATIVE OF PURCHASING PARTY
REPRESENTATIVE OF SELLING PARTY
FORM ATTACHED TO THE APPENDIX NO.
06/TTM
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Term of valuable paper
Form of valuable paper
Volume of valuable paper in terms
of value at its maturity date (VND million)
Term of the term transaction
Auction winning interest (united
or separate) or interest rate announced by the State Bank (% per annum)
Selling price
Repurchase price
Date of delivery, receipt and
payment upon the expiration of the sale and repurchase agreement
(1)
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(3)
(4)
(5)
(6)
(7)
(8)
(9)
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REPRESENTATIVE OF PURCHASING PARTY
REPRESENTATIVE OF SELLING PARTY
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Note: Seal on the Fax copy
Appendix No. 07/TTM
THE STATE BANK OF VIETNAM
OPERATING
DEPARTMENT
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REPORT ON THE PERFORMANCE OF OPEN MARKET OPERATION
Date.....................
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Accumulated amount from 1/1/....
to .......
Volume of valuable paper in terms
of the value at its maturity date
Modes of purchase, sale (term
purchase or sale 1, or outright
purchase or outright sale 2)
Term of purchase or sale
Auction winning interest (united
or separate) or interest rate announced by the State Bank
Purchase price or selling price
Volume of valuable paper in terms
of the value at its maturity date
Purchase
Sale
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2
3
4
5
6
7
8
I. Treasury Bills:
1. Term of.....
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1.2. Registered
2. Term of......
1.1. Certificate
1.2. Registered
II. State Bank Bills
1. Term of.....
1.1. Certificate
1.2. Registered
2. Term
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III..............
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Total
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DIRECTOR OF THE BANKING OPERATION
DEPARTMENT