Contents of statements and information provided for the press by the State Bank of Vietnam

Contents of statements and information provided for the press by the State Bank of Vietnam (Internet image) 

1. Persons in charge of making statements and providing information for the press in Vietnam

According to Clause 1, Article 3 of Circular 26/2020/TT-NHNN, persons in charge of making statements and providing information of the State Bank include:

- Governor of the State Bank (hereinafter referred to as “Governor”);

- Persons assigned to make statements and provide information for the press on a regular basis by the Governor (hereinafter referred to as “speaker”);

- Persons authorized to make statements (hereinafter referred to as “authorized speakers”) or tasked with cooperating with the speaker in making statements or providing information concerning specific matters for the press by the Governor.

2. Contents of statements and information provided for the press in Vietnam

Specifically, in Article 4 of Circular 26/2020/TT-NHNN, the contents of statements and information provided for the press are as follows:

- Guidelines, policies and law on money, banking operations and foreign exchange (hereinafter referred to as “money and banking”).

- Instructional documents on money and banking of the Governor.

- Monetary and banking information, figures and situations.

- Information related to issuance, amendment and revocation of establishment and operation licenses of credit institutions, establishment licenses of foreign bank branches, establishment licenses of representative offices of foreign credit institutions and other banking institutions; issuance and revocation of licenses for payment service provision of non-bank institutions; information on acquisition, selling, division, consolidation, merger, bankruptcy and dissolution of and special control over credit institutions per the law.

- Information on system of credit institutions in Vietnam.

- Information on operation and finance of enterprises managed by the State Bank per the law.

- Other contents per the law.

3. Methods for making statements and providing information for the press in Vietnam

The State Bank of Vietnam's announcement and provision of information to the press shall be carried out in the following forms:

- Post statements and information on the web portal of the State Bank (Vietnamese and English pages); contents, duration and units in charge of information provision are provided for in the Appendix enclosed therewith.

- Hold press conferences.

- Make statements directly or give interviews to the press.

- Send press releases and replies to the press in writing or via emails.

- Other methods per the law.

(Article 5 of Circular 26/2020/TT-NHNN)

4. Making of statements and provision of information in unusual events in Vietnam

- The speaker shall make statements and provide information in an adequate, timely and accurate manner in the following unusual events:

= When there are important events or matters that have large social impact or the public has conflicting opinions regarding matters under the State Bank’s management, which poses a threat to the safety of the banking system;

= When press agencies or press authorities request statements or information on matters under the State Bank’s management that have been mentioned in press works or events and matters mentioned in Point a herein;

= When there are grounds for presuming that a press agency has posted or broadcasted false information on areas under the State Bank’s management, the speaker or authorized speaker shall request the press agency to post or broadcast corrected information as per the law.

- For information which concerns multiple authorities and which the State Bank has been assigned to take charge of handling, the State Bank shall make statements and provide information in unusual events as prescribed by law.

- For enterprises managed by the State Bank, when there is unusual information according to regulations of the Law on Enterprises and amending or superseding documents (if any), enterprises shall promptly provide information to have it posted to the web portal of the State Bank.

(Article 6 of Circular 26/2020/TT-NHNN)

Thanh Rin

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