New regulations on the use of valuable papers deposited at the State Bank of Vietnam
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Governor of the State Bank of Vietnam issued Circular 16/2022/TT-NHNN dated 30/11/2022 on depository and use of valuable papers at the State Bank of Vietnam.
Article table of contents
According to Vietnam's Circular 16/2022/TT-NHNN, valuable papers used in money market operations include:
(1) Open market operations;
(2) Refinancing operations:
- Loans to credit institutions and foreign bank branches secured by the pledge of valuable papers of the State Bank;
- Discounting valuable State Bank papers for credit institutions and foreign bank branches
- Other types of refinancing permitted by State Bank regulations;
(3) Pledge valuable papers to establish an overdraft limit and overnight lending in interbank electronic payments;
(4) Pledge, deposit valuable papers to establish the net debt limit in an interbank electronic payment;
Currently, Vietnam's Circular 04/2016/TT-NHNN only regulates the deposit of valuable papers to establish the net debt limit in interbank electronic payments.
(5) Pledge and deposit valuable papers in order to establish a centralized payment limit.
(6) Pledge and deposit valuable papers to establish an electronic clearing limit through the Electronic Clearing System;
Currently, valuable papers are held in escrow to establish the net debt limit in interbank electronic payment systems, with participants in the e-payment system.
(7) Pledge, deposit valuable papers, and perform other operations as decided by the Governor of the State Bank from time to time. (Additional content)
Vietnam's Circular 16/2022/TT-NHNN takes effect on January 17, 2023, and replaces Vietnam's Circular 04/2016/TT-NHNN.
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- Key word:
- Circular 16/2022/TT-NHNN
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On February 23, 2023, the Prime Minister of Vietnam promulgated
On February 15, 2023, the Government of Vietnam promulgated Decree No.
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