Decision No. 122-TC-QĐ/KBNN on the issuance of two-year Treasury bonds

Pursuant to …;

OF THE MINISTER OF FINANCE NUMBER 122 TC-QĐ/KBNN ON FEBRUARY 1, 1997 REGARDING THE ISSUE OF TREASURY BILLS
WITH A TWO-YEAR MATURITY PERIOD
Issuing two-year Treasury bills with an annual interest rate of 14% starting from February 15, 1997 in 42 provinces and cities listed in the attached list.

THE MINISTER OF FINANCE

Pursuant to Decree No. 178/CP dated October 28, 1994 of the Government on the tasks, powers, and organizational structure of the Ministry of Finance;

Pursuant to Decree No. 25/CP dated April 5, 1995 of the Government stipulating the tasks, powers, and organizational structure of the State Treasury under the Ministry of Finance;

Pursuant to Decree No. 72/CP dated July 26, 1994 of the Government on the issuance of government bonds;

At the proposal of the Director General of the State Treasury,

Pursuant to …;

Article 1.- The two-year Treasury bills will be issued at an annual interest rate of 14% from February 15, 1997 in 42 provinces and cities according to the attached list.

Article 2.- Treasury bills may be sold to the following entities: Vietnamese citizens residing within Vietnam; Vietnamese mass organizations and associations; Foreign individuals legally working and residing in Vietnam.

Domestic enterprises of all economic sectors and foreign-invested enterprises operating in Vietnam are not permitted to purchase these Treasury bills.

Article 3.- Treasury bills shall be recorded and settled in Vietnamese Dong (VND). The minimum amount for each bill is 100,000 VND (one hundred thousand dong), with no maximum limit. The principal and interest of the Treasury bills will be paid in full upon maturity (after 24 months).

In cases where the holder of a Treasury bill requests early redemption, if the period from the date of purchase to the date of redemption is less than 12 months, no interest will be paid; if the period from the date of purchase to the date of redemption is between 12 and 24 months, the holder will receive interest for one year at an annual interest rate of 13%.

Article 4.- Treasury bills shall bear the name and address of the purchaser and can be freely bought, sold, transferred, and inherited among eligible purchasers as stipulated in Article 2 of this Decision; They can be used as collateral or pledge in credit relationships; They cannot be used to replace currency in circulation or to pay taxes to the State Budget.

Article 5.- Proceeds from the sale of Treasury bills shall be recorded in the Central Budget; The funds for payment of Treasury bills and related expenses for their issuance and settlement shall be guaranteed by the Central Budget.

Article 6.- The General Director of the National Treasury, heads of relevant units under the Ministry of Finance, and Directors of Provincial Treasuries assigned the task of issuing Treasury bills shall be responsible for implementing this Decision.

LIST

PROVINCES AND CITIES ISSUING TWO-YEAR MATURITY TREASURY BILLS
AT AN ANNUAL INTEREST RATE OF 14%

(Pursuant to Decision No. 122 TC-QĐ/KBNN dated February 1, 1997)
of the Minister of Finance)