Guidelines on Payment of Government Bond Transactions via Banks

08:21, 11/07/2024

On May 12, 2017, the Ministry of Finance issued Circular 46/2017/TT-BTC providing guidelines for the payment activities of Government of Vietnam Bonds (GOVB), Government-guaranteed bonds, and local government bonds. Accordingly:

- Payments for Government Bond transactions between payment institutions are made directly via the State Bank of Vietnam's interbank electronic payment system;- The State Securities Commission decides the transaction settlement timeline for Government Bonds based on an agreement with the State Bank of Vietnam.- The procedures and formalities for settling Government Bond transactions are implemented according to the guidance of the Vietnam Securities Depository.- Government Bond transactions will be nullified if:- Due to an error by the trading member;- Insufficient funds on the settlement date without requesting the Vietnam Securities Depository to extend the settlement deadline;- The transaction is deferred but the extended period expires without sufficient funds for settlement;- Engaging in short-selling of Government Bonds without guidance from the Ministry of Finance.

Circular 46/2017/TT-BTC comes into effect from August 1, 2017.

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