Who Has the Authority to Decide on the Use of the National Monetary Policy Implementation Fund?

15:51, 10/07/2024

On December 31, 2019, the State Bank of Vietnam unanimously issued Circular 36/2019/TT-NHNN regulating the management and use of the Fund for the implementation of national monetary policy.

To be specific, the Governor of the State Bank of Vietnam decides to use the National Monetary Policy Implementation Fund to cover the expenses stipulated in Article 5 of Circular 36/2019/TT-NHNN, specifically including:

Decision-making authority on the use of the National Monetary Policy Implementation Fund, Circular 36/2019/TT-NHNN

Illustration (source: internet)

- Loans supporting credit institutions facing incidents affecting the safety of the banking system.

- Loans to credit institutions participating in the payment system to support the payment system in case of incidents threatening the security of payment operations and the safety of the banking system.

- Other expenses arising related to the implementation of monetary policy that have been approved by the Prime Minister of the Government of Vietnam regarding the general guidelines.

Specially, for expenses that require the Prime Minister of the Government of Vietnam's approval regarding the general guidelines, the State Bank of Vietnam will report to the Prime Minister of the Government of Vietnam for approval regarding the general guidelines before deciding to use the National Monetary Policy Implementation Fund.

The use of the National Monetary Policy Implementation Fund for specific cases will be carried out according to the decision of the Governor of the State Bank of Vietnam.

See more related regulations in Circular 36/2019/TT-NHNN effective from February 20, 2020.

Thu Ba

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