Decision No. 1289/2001/QD-NHNN amends the procedures for implementing foreign currency swap transactions between the State Bank and banks, specifically regarding the time for review and decision-making by the Monetary Policy Department. This decision applies to banks participating in this transaction.
适用范围
Banks participating in foreign currency swap transactions with the State Bank
要点
- Monetary Policy Department → reviews and decides on foreign currency swaps within one working day for transactions up to 20 million US dollars, reports to the Governor for transactions over 20 million US dollars
- In case the State Bank agrees to implement the foreign currency swap transaction, the Monetary Policy Department notifies the Trading Department to execute it; if rejected, a letter explaining the reasons for rejection will be sent to the bank
🌐 本文件的社会影响
- Positive impact: Enhances the State Bank's management and supervision effectiveness over foreign currency swap transactions, enabling banks to quickly meet their short-term capital needs in Vietnamese dong.
- Negative impact: The review period for deciding on foreign currency swaps has been shortened, requiring the Monetary Policy Department to work faster and more accurately.
❓ 常见问题
How long is the review period for deciding on foreign currency swaps?
The Monetary Policy Department will review and decide within one working day for transactions up to 20 million US dollars.
What should banks do if the State Bank refuses to implement the foreign currency swap transaction?
The bank will receive a letter from the Monetary Policy Department explaining the reasons for refusal.
What conditions must be met for the State Bank to agree to implement the foreign currency swap transaction?
If the transaction value is up to 20 million US dollars, the Monetary Policy Department will review and decide; if over 20 million US dollars, the Governor will review.
What should banks do when they receive a request to implement the foreign currency swap transaction?
Banks need to submit a request to implement the foreign currency swap transaction to the Monetary Policy Department as prescribed.
When does this decision take effect?
This decision takes effect from the date of issuance.
全文
Pursuant to …;
Regarding the amendment of Decision No. 893/2001/QĐ-NHNN dated July 17, 2001 of the Governor of the State Bank on the implementation of foreign exchange swap operations between the State Bank and commercial banks to meet short-term capital needs in Vietnamese dong for the banks
______________________
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997;
Pursuant to the Government Decree No. 15/CP dated March 2, 1993 on the tasks, powers, and responsibilities of state management of ministries and ministerial-level agencies;
Pursuant to the proposal of the Director of the Monetary Policy Department,
Pursuant to …;
Article 1. Amend Point 2.2 of Section 2, Article 10 of Decision No. 893/2001/QĐ-NHNN dated July 17, 2001 concerning the responsibilities of the Monetary Policy Department as follows:
"2.2. Within one working day from the date of receipt of the request to implement the foreign exchange swap operation from the banks, the head of the Monetary Policy Department shall examine and decide on the foreign exchange swap for transactions up to 20 million US dollars and submit to the Governor for examination and decision on transactions exceeding 20 million US dollars. In case the State Bank agrees to implement the foreign exchange swap operation, the Monetary Policy Department shall notify the Trading Department to carry out the transaction. In case the State Bank refuses to implement the foreign exchange swap operation, the Monetary Policy Department shall issue a letter to the bank explaining the reasons for refusal."
Article 2. This Decision shall take effect from the date of signing.
Article 3. The Heads of the Office, the Heads of the Monetary Policy Department, the Foreign Exchange Management Department, the Credit Department, the Director of the Trading Department of the State Bank, the Head of the Accounting and Finance Department, the Heads of relevant units at the Central State Bank, and the General Directors (Directors) of participating commercial banks in the foreign exchange swap operations with the State Bank are responsible for implementing this Decision.
DEPUTY DIRECTOR
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