Vietnam: Current method of issuing valuable papers

11:25, 03/01/2014

This is an important content of Circular No. 34/2013/TT-NHNN of the State Bank of Vietnam providing for the domestic issuance of promissory notes, bills, deposit certificates, bonds by credit institutions, foreign bank branches.

According to Clause 1 Article 13 of Circular No. 34/2013/TT-NHNN of the State Bank of Vietnam, credit institutions, foreign bank branches may issue valuable papers under the following methods: direct issue, underwriting, issuing agent, bidding; concurrently, complying with the following provisions:

phuong thuc phat hanh giay to co gia, thong tu 34/2013/TT-NHNN

- The direct issue, underwriting, issuing agent and bidding for valuable papers issuance as mentioned above shall be conformable to provisions of laws.

- Fee for underwriting, issuing agent, bidding for valuable papers shall be agreed by and between the issuing credit institutions, foreign bank branches and the underwriters, issuing agents, bidders of valuable papers.

Besides, procedures of issuance and payment of the valuable papers shall be determined by the credit institutions, foreign bank branches in line with their management features and model and applicable regulations to ensure the security and accuracy of the issuance and payment of valuable papers.

Circular No. 34/2013/TT-NHNN also stipulates that the term of valuable paper means the period of time commencing from the date of issue to the date of maturity. Short-term valuable papers shall have term of less than one year, long- term valuable paper shall have term of two years or more, bonds shall have term of one year or more.

View more details at Circular No. 34/2013/TT-NHNN of the State Bank of Vietnam, effective from February 14, 2014.

Thu Ba

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