Circular 16: Promulgating the Basic Terms and Conditions of SBV Treasury Bills

22:24, 09/07/2024

This is a noteworthy regulation mentioned in Circular 16/2019/TT-NHNN issued by the Governor of the State Bank of Vietnam regarding the issuance of Treasury Bills by the State Bank.

According to current regulations, the State Bank of Vietnam bills are short-term valuable papers issued by the State Bank of Vietnam to implement national monetary policy.

basic terms and conditions of SBV bills, Circular 16/2019/TT-NHNN

Illustrative image (source: internet)

The basic terms and conditions of the State Bank of Vietnam bills are specified in Article 4 of Circular 16/2019/TT-NHNN, as follows:

- Subjects: State Bank of Vietnam bills are issued to credit institutions with payment accounts in Vietnamese dong at the State Bank of Vietnam.- Currency of issuance: State Bank of Vietnam bills are issued, accounted for, and paid in Vietnamese dong.- Term: The term of State Bank of Vietnam bills is decided by the State Bank of Vietnam and does not exceed 364 days.- Denomination: The denomination of State Bank of Vietnam bills is 100,000 dong (one hundred thousand dong) or multiples of 100,000 dong.- Form: State Bank of Vietnam bills are issued in book-entry form.- Interest rate: The interest rate on State Bank of Vietnam bills is decided by the State Bank of Vietnam, in accordance with monetary market developments and the objectives of monetary policy management in each period.- State Bank of Vietnam bills are issued at a price lower than their denomination and are paid in full by their denomination value on the maturity date of the State Bank of Vietnam bills.

View the full text of the regulation at Circular 16/2019/TT-NHNN, effective from December 9, 2019.

Thu Ba

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