Circular No. 06/2011/TT-NHNN on monetary statistics surveys, banking activities, and foreign exchange operations

CIRCULAR

Rules on monetary statistics, banking activities, and foreign exchange

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Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

Pursuant to the Law on Credit Institutions No. 47/2010/QH12 dated June 16, 2010;

Pursuant to the Statistics Law No. 04/2003/QH11 dated June 17, 2003;

Pursuant to Decree No. 40/2004/NĐ-CP dated February 13, 2004 of the Government detailing and guiding the implementation of certain provisions of the Statistics Law;

Based on Decree No. 03/2010/NĐ-CP dated January 13, 2010 of the Government stipulating the position, functions, tasks, powers, and organizational structure of ministries, ministerial-level agencies, and government agencies;

Based on Decree No. 96/2008/NĐ-CP dated August 26, 2008 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam,

The State Bank of Vietnam (hereinafter referred to as the State Bank) issues this Circular on rules for monetary statistics, banking activities, and foreign exchange as follows:

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

This Circular stipulates rules on statistical surveys in the fields of money, banking, and foreign exchange (hereinafter referred to as money and banking); statistical surveys on money and banking conducted by organizations and individuals outside the state statistical system.

Article 2. Applicability

1. Units under the State Bank.

2. Credit institution.

3. Branches of foreign banks.

4. Representative offices of foreign credit institutions.

5. Organizations not included in the objects specified from Clause 1 to Clause 4 of this Article and individuals, households related to statistical surveys on money and banking.

Article 3. Purpose of Statistical Surveys by the State Bank

The State Bank conducts statistical surveys to collect statistical information on money, banking, and other relevant statistical information to perform its state management functions and central bank functions as prescribed by law.

Article 4. Definitions

1. A statistical survey is a method of collecting statistical information according to a survey plan.

2. A statistical survey in the field of money and banking is a statistical survey conducted by the State Bank in accordance with the law on statistics.

3. A statistical survey on money and banking conducted by organizations and individuals outside the state statistical system is a statistical survey carried out by such organizations and individuals to collect statistical information on money and banking. The provisions on statistical surveys on money and banking are set forth in Section 2, Chapter II of this Circular.

4. Survey subjects include organizations (including credit institutions and branches of foreign banks), individuals, and households subject to statistical surveys.

Article 5. Principles for Conducting Statistical Surveys in the Field of Money and Banking

1. Ensuring truthfulness, objectivity, accuracy, completeness, timeliness, and scientific rigor in statistical surveys.

2. Ensuring independence in professional and operational statistics.

3. Not organizing overlapping or repetitive statistical surveys with other surveys. Not organizing statistical surveys for information and data that have already been collected and compiled in accordance with the law on statistical reports.

4. Publicizing survey methods and publishing survey information in accordance with the law.

5. Ensuring equal access and use of publicly disclosed survey information.

6. Information on individual organizations and individuals obtained through statistical surveys must be used for their intended purpose and kept confidential in accordance with the law.

Article 6. Cases for Conducting Statistical Surveys in the Field of Money and Banking

1. Collecting statistical information from organizations not required to follow the reporting system in the banking sector or organizations not required to report or provide information to the State Bank as prescribed by law.

2. Supplementing information from organizations following the reporting system in the banking sector and organizations required to report or provide information to the State Bank as prescribed by law.

3. Collecting information from households or individual businesses, households, and individuals.

4. Collecting statistical information when there is an urgent need.

Article 7. Survey Program in the Field of Currency and Banking

1. The survey program in the field of currency and banking includes the list of surveys conducted by the State Bank of Vietnam, the survey period, the survey date, the leading entity, the cooperating entities, the budget estimate, and the funding sources for the surveys.

2. Surveys under the survey program in the field of currency and banking include:

a) Surveys in the field of currency and banking included in the national survey program decided by the Prime Minister and assigned to the State Bank of Vietnam to implement;

b) Surveys in the field of currency and banking conducted by the State Bank of Vietnam outside the national survey program.

3. The Governor of the State Bank of Vietnam (hereinafter referred to as the Governor) approves, modifies, supplements, or cancels the survey program in the field of currency and banking, except for surveys included in the national survey program.

4. The Governor proposes the General Statistics Office to submit to the Prime Minister for decision on supplementing or abolishing long-term and annual surveys in the field of currency and banking according to the law on statistics.

5. Based on their assigned functions and tasks, units under the State Bank of Vietnam propose next year's surveys to the Department of Forecasting and Currency Statistics (before May 1st each year for surveys within the national survey program and before October 1st each year for surveys outside the national survey program).

Article 8. Ad Hoc Surveys in the Field of Currency and Banking

1. Ad hoc surveys in the field of currency and banking are surveys conducted by the State Bank of Vietnam and not included in the survey program in the field of currency and banking.

2. The Governor decides ad hoc surveys in the field of currency and banking.

3. Ad hoc surveys in the field of currency and banking shall be carried out in accordance with the provisions of Section 1, Chapter II of this Circular and relevant laws.

Chapter II

SPECIFIC PROVISIONS

PART 1

SURVEYS IN THE FIELD OF CURRENCY AND BANKING

Article 9. Preparation for Surveys

1. Decision on Surveys

All surveys conducted by the State Bank of Vietnam must be decided by the Governor.

2. Establishment of the Survey Steering Committee

a) Depending on the nature and scale of the survey, the Governor decides whether to establish or not establish a Survey Steering Committee;

b) Members of the Survey Steering Committee include: the Governor or Deputy Governor as Chair; one leader from the leading unit conducting the survey as Vice-Chair, and other members as decided by the Governor;

c) The Cadre Organization Department acts as the coordinating body working with the Department of Forecasting and Currency Statistics and related units to draft and submit to the Governor for issuance of the Decision establishing the Survey Steering Committee;

d) The Survey Steering Committee performs the rights and obligations as stipulated in Article 14 of this Circular.

b ||| The survey plan must be reviewed by the General Statistics Office for professional and statistical expertise before issuance. The review file for the survey plan is specified in Clause 2, Article 32 of the Statistics Law.

a) Every survey must have a survey plan;

b) The survey plan includes regulations and guidelines on: Purpose, requirements, scope, subjects, units, content, methods of survey, methods of data synthesis, processing of survey information, time points, duration of the survey, leading unit and cooperating units, implementing forces for survey, synthesis, analysis, publication of results, budget, and other material conditions ensuring implementation, responsibilities of related organizations, units, and individuals;

c) The survey plan accompanied by the survey form must be reviewed by the General Statistics Office for professional and technical aspects before submission to the Governor for approval.

b ||| Only information recorded, reflected, or collected on valid survey questionnaires can be used to compile survey results.

a) The survey form accompanied by instructions for asking and answering questions is issued together with the survey plan;

a ||| They must contain all required content and be in the correct format according to the approved survey questionnaire model accompanying the survey plan.

b ||| Information recorded and reflected on the survey questionnaire must be truthful, complete, objective, and accurately represent the views and opinions of the surveyed subject.

c ||| Valid survey questionnaires must be distributed by the Survey Steering Committee or the lead unit conducting the survey.

d ||| In cases of direct survey methods, completed survey questionnaires recording information collected from the surveyed subject must be signed and clearly marked with the name of the surveyor.

c) The statistical survey form must be issued by the Steering Committee for the statistical survey or the main implementing unit of the statistical survey;

d) In cases of direct method surveys, completed survey forms recording collected information from survey subjects must be signed and clearly marked with the name of the surveyor.

6. The review file for the survey plan submitted to the General Statistics Office includes the request for review and the draft survey plan accompanied by the survey form.

7. The Governor approves the survey plan and survey form after they have been reviewed by the General Statistics Office.

Article 10. Conducting statistical surveys

1. Carry out the distribution of statistical survey forms or dispatch personnel to directly contact the subjects of the statistical survey to collect statistical information.

2. Aggregate and process the collected statistical information.

3. Prepare and submit to the Governor for approval the report on the results of the statistical survey.

4. Submit the results of the statistical survey to the General Statistics Office.

5. When necessary, the Governor decides on hiring external organizations outside the State Bank to conduct one or several tasks of the statistical survey.

Article 11. Announcing the Results of Statistical Surveys

1. The Governor announces the results of the statistical survey in accordance with the laws on statistics.

2. The results of the statistical survey must be announced within the time limit specified in the approved survey plan and not later than forty-five working days from the date the Governor approves the survey results.

3. The results of the statistical survey shall be announced through one or more of the following forms and means:

a) Statistical yearbooks;

b) Statistical products in written form and electronic form on information networks;

c) Press conferences;

d) Mass media.

Article 12. Confidentiality and Use of Information and Survey Results

1. Information and results of statistical surveys must be kept confidential including:

a) Information and data linked to the name and specific address of each organization or individual, except where such organization or individual agrees to their publication;

b) Information belonging to the list of state secrets.

2. Information and results of statistical surveys shall be used for the purposes specified in the approved survey plan and in accordance with the provisions of the Law on Statistics.

3. Any citation or use of information and survey results published by the Governor must be truthful and clearly indicate the source of the information.

4. Strictly prohibit using information and survey results to negatively impact monetary stability and banking operations security, or harm national interests and the interests of organizations or individuals providing survey information.

Article 13. Budget for Statistical Surveys

1. The budget for conducting statistical surveys is compiled in the State Bank's budget estimate in accordance with the State Budget Law and the Statistics Law, based on the scale and nature of each survey.

2. The establishment, use, and settlement of the budget for statistical surveys are carried out in accordance with the provisions of the law.

3. Annually, the Financial and Accounting Department acts as the lead unit to coordinate with the Forecasting and Monetary Statistics Department and related units to develop and submit to the Governor the budget estimate to ensure the implementation of the statistical survey program and surveys in the monetary and banking sectors.

Article 14. Rights and Obligations of the Steering Committee for the Statistical Survey

1. The Steering Committee for the Statistical Survey directs the main implementing unit and related units to carry out:

a) Developing and submitting to the Governor for approval the survey plan and survey questionnaire along with guidance on asking and answering survey questions;

b) Organizing the implementation of the statistical survey according to the approved survey plan;

c) Collecting, compiling, processing, analyzing survey information, and preparing reports on survey results.

2. Submitting to the Governor for approval the survey results and announcing the survey results in accordance with the Statistics Law.

3. Performing other statistical survey tasks assigned by the Governor and relevant provisions of the law on statistics.

Article 15. Rights and Obligations of the Main Implementing Unit for the Statistical Survey

1. Leading and coordinating with the Forecasting and Monetary Statistics Department to develop and submit to the Governor for issuance the Decision on Statistical Survey.

2. Advising and assisting the Steering Committee for the Statistical Survey (if established) in performing the rights and obligations of the Steering Committee as stipulated in Article 14 of this Circular.

3. Performing the rights and obligations of the Steering Committee for the Statistical Survey as stipulated in Article 14 of this Circular when the Governor does not establish a Steering Committee for the Statistical Survey.

4. Leading and coordinating with the Forecasting and Monetary Statistics Department and related organizations and units to develop the survey plan and survey questionnaire along with guidance on asking and answering survey questions.

5. Proceeding with the procedures to obtain approval from relevant state management agencies for the statistical survey within their functional scope in accordance with the law on statistics.

6. Leading and coordinating with the Forecasting and Monetary Statistics Department to prepare the dossier for the General Statistics Office to review the survey plan and survey questionnaire.

7. Leading and coordinating with related organizations and units to implement the statistical survey according to the approved survey plan.

8. Collecting, compiling, processing, analyzing survey information, and preparing a report on the survey results to submit to the Governor for approval (in cases where no Steering Committee for the Statistical Survey is established) or to submit to the Steering Committee for the Statistical Survey for endorsement and then to the Governor for approval (in cases where a Steering Committee for the Statistical Survey is established).

9. Sending the Decision on Statistical Survey, survey plan, survey questionnaire, and report on survey results to the General Statistics Office and the Forecasting and Monetary Statistics Department immediately after they are approved or issued by the Governor.

10. Retaining and managing the files and documents of the statistical survey.

11. Performing other statistical survey tasks assigned by the Governor and relevant provisions of the law on statistics.

Article 16. Rights and Obligations of the Department of Forecasting and Monetary Statistics

1. Take the lead and coordinate with relevant units to develop a list of surveys and statistical investigations in the monetary and banking sector for inclusion in the national survey program, to be submitted to the Governor for approval and sent to the General Statistics Office.

2. Take the lead and coordinate with relevant units to develop, submit to the Governor for issuance, amendment, and supplementation of the survey and statistical investigation program in the monetary and banking sector.

3. Take the lead and coordinate with relevant units to organize and implement the survey and statistical investigation program in the monetary and banking sector.

4. Guide, monitor, and inspect relevant units in the implementation of the approved survey and statistical investigation program in the monetary and banking sector.

5. Coordinate with the leading unit implementing the survey and statistical investigation to develop, submit to the Governor for issuance the Decision on the survey and statistical investigation and approve the investigation plan and statistical investigation form.

6. Lead the implementation of surveys and statistical investigations within the survey program in the monetary and banking sector, except those surveys and statistical investigations assigned by the Governor to other units to lead.

7. Provide guidance and disseminate survey and statistical investigation procedures to organizations and units in the banking industry.

8. Receive, review the survey and statistical investigation files from organizations and individuals outside the state statistical organization system and without banking functions, to be submitted to the Governor for consideration and approval.

9. Carry out other survey and statistical investigation tasks assigned by the Governor and related provisions of the Law on Statistics.

Article 17. Rights and Obligations of Survey and Statistical Investigation Implementers

1. Be trained and guided on professional and procedural matters related to survey and statistical investigation.

2. Conduct surveys according to the approved survey and statistical investigation plan.

3. Provide information, explain, and guide the surveyed subjects about the survey and the statistical investigation form.

4. Collect, record, and compile survey and statistical investigation information truthfully and completely according to the statistical investigation form.

5. Ensure confidentiality of survey and statistical investigation information in accordance with the Law on Statistics and protect state secrets.

6. Report promptly to the Steering Committee of the survey or the head of the leading unit implementing the survey and statistical investigation about difficulties, obstacles, and violations of the law during the survey and statistical investigation process.

7. Perform other rights and obligations as prescribed by law.

Article 18. Rights and Obligations of Survey and Statistical Investigation Subjects

1. Be informed of the decision on the survey and statistical investigation.

2. Not refuse or obstruct the implementation of the survey and statistical investigation by the State Bank. In cases where the survey is conducted indirectly, the survey and statistical investigation subject must truthfully and fully fill out the forms and submit them on time to the State Bank (the leading unit implementing the survey and statistical investigation).

3. Provide truthful, complete, and timely information as required by the survey and statistical investigation implementer.

4. Be guaranteed the confidentiality of the provided survey and statistical investigation information in accordance with the law.

5. Lodge complaints and denunciations against acts violating the Law on Survey and Statistical Investigation.

6. Perform other rights and obligations as prescribed by law.

PART 2

SURVEY AND STATISTICS OF CURRENCY AND BANKING OF ORGANIZATIONS AND INDIVIDUALS OUTSIDE THE NATIONAL STATISTICAL SYSTEM

OUTSIDE THE NATIONAL STATISTICAL SYSTEM ORGANIZATIONS AND INDIVIDUALS

Article 19. Purpose and Principles of Survey and Statistics on Currency and Banking of Organizations and Individuals Outside the National Statistical System

1. Organizations and individuals outside the national statistical system that have banking functions shall conduct surveys and statistics on currency and banking to serve scientific research and business production in accordance with the provisions of the law.

2. Organizations and individuals outside the national statistical system without banking functions must obtain the State Bank's approval before conducting surveys and statistics on currency and banking.

3. The results of the surveys and statistics specified in Clause 1 and Clause 2 of this Article do not replace the statistical information published by the State Bank.

4. The surveys and statistics specified in Clause 1 and Clause 2 of this Article shall be conducted voluntarily by organizations and individuals regarding the content and timing of the survey.

5. It is strictly prohibited for organizations and individuals to conduct surveys and statistics that harm national interests, monetary stability, the safety of banking operations, and national monetary policy.

Article 20. Procedures for the State Bank's Approval of Surveys and Statistics on Currency and Banking by Organizations and Individuals Outside the National Statistical System Without Banking Functions

1. Organizations and individuals outside the national statistical system without banking functions that wish to conduct surveys and statistics on currency and banking must submit the survey and statistics dossier to the State Bank for review and approval.

2. The survey and statistics dossier shall be sent in one copy via postal service to the State Bank (Department of Forecasting and Monetary Statistics) or submitted directly at the State Bank (Department of Forecasting and Monetary Statistics), including:

a) A document requesting the State Bank's permission to conduct the survey and statistics on currency and banking;

b) A draft survey and statistics plan including the following contents: Purpose, requirements, scope, subjects, units, content, methods of survey, methods of data synthesis, processing of survey information, time and duration of the survey, unit conducting the survey and force implementing the survey, synthesis, analysis, publication of survey results, funding and other material conditions ensuring implementation, responsibilities of related organizations and individuals;

c) A survey and statistics questionnaire template accompanied by guidance on asking and answering survey questions.

3. Within fifteen working days from the date of receipt of a complete and valid survey and statistics dossier, the State Bank will provide comments on approval or disapproval of the survey and statistics.

Article 21. Rights and Obligations of Organizations and Individuals Outside the National Statistical System Without Banking Functions Conducting Surveys and Statistics on Currency and Banking

1. Implement the provisions of Clause 1 and Clause 2 of Article 20 of this Circular.

2. Amend the content of the survey and statistics plan, the survey and statistics questionnaire template, and guidance on asking and answering survey questions according to the State Bank's opinion and resubmit to the State Bank (Department of Forecasting and Monetary Statistics) for review and approval.

3. Conduct surveys and statistics according to the approved survey and statistics plan and in accordance with the law.

4. Send the results of the survey and statistics to the State Bank (Department of Forecasting and Monetary Statistics) within thirty working days from the end of the survey and statistics and at least ten working days before publishing the survey results.

5. Use the results of the survey and statistics for the purpose stated in the approved survey and statistics plan and in accordance with the law.

6. Perform other rights and obligations as prescribed by law.

Chapter III

IMPLEMENTATION

Article 22. Effectiveness

This Circular takes effect from June 1, 2011.

Article 23. Implementation Organization

The Head of the Office, the Director of the Department of Forecasting and Monetary Statistics, the Heads of Units under the State Bank, the Governors of the State Bank Branches in provinces and centrally-administered cities, the Chairmen of the Boards of Directors, General Managers (Directors) of Credit Institutions, and relevant organizations and individuals are responsible for implementing this Circular./.