Hanoi: 10 expenditures of the State Bank of Vietnam

10 expenditures of the State Bank of Vietnam (Illustrative image)

According to the provisions of Article 14 of Decree 07/2006/ND-CP, the State Bank of Vietnam shall give the following expenditures:

1. Banking operation and service expenditures:

- Payment of deposit interest, loan interest; expenditures on foreign exchange buying, selling and trading operations; expenditures on open market operations;- Costs of printing, minting, preserving, transporting, receiving, issuing, collecting, replacing, and destroying money; costs of payment and information services.

2. Expenditures for officials, contract staff of the State Bank, and reward and welfare expenditures, including:

- Salaries, salary allowances as per policies; additional income supplements for officials and staff of the State Bank under the contracted mechanism; lunch allowances; transaction uniforms; labor protection means;- Regular and ad hoc rewards and welfare for officials and staff of the State Bank; the annual expenditure on these two items is equal to the total implemented salary fund of the year;- Rewards for collectives and individuals from industries that have made outstanding contributions to the activities of the Bank; the maximum expenditure is equivalent to 1 month's salary implemented in the year.

3. Contributions based on salary (union fund, social insurance, health insurance, other contributions as per policy regulations), expenditures for union activities.

4. Hardship allowances, and severance allowances according to legal regulations.

5. Expenditures on management and public service activities include: office supplies; postal and communication costs; electricity, water, medical, and office sanitation costs; fuel costs; travel expenses; hospitality, reception, and conference costs; costs for inspection and audit activities of the State Bank; costs for training, professional coaching, scientific research, technology, initiatives, and improvements; costs for documents, books, newspapers, magazines, libraries, propaganda, advertisements, and other public service management activities.

6. Expenditures on assets:

- Depreciation of fixed assets;- Maintenance and repair of assets; procurement of tools; asset leasing.

7. Deduction of 12% of the average annual fixed assets value for investment in developing banking technical operations and technology.

8. Expenditures from funds allocated by the state budget according to policy regulations.

9. Expenditures for setting up a risk provision fund.

10. Other expenditures as prescribed by law.

Details can be found at Decree 07/2006/ND-CP, effective March 28, 2006.

Ty Na

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