Circular No. 15/2010/TT-BXD amends and supplements the Regulation on issuing large-scale government bonds issued pursuant to Decision No. 46/2006/QĐ-BTC. This Circular stipulates the time and volume of bond issuance, the fixed nominal interest rate of the bonds, and the responsibility for organizing implementation.
要点
- The Director General of the State Treasury decides the issuance volume of each tranche in accordance with capital raising needs and market conditions, ensuring that the total issuance volume reaches a minimum of one trillion VND.
- Large-scale bonds with a term of three years or more have a fixed nominal interest rate determined by the auction winning rate at the first issuance session under the government bond auction mechanism.
- The issuance period for a large-scale bond with a three-year term shall not exceed 180 days from the date of the first issuance, and the issuance period for a large-scale bond with a five-year term or longer shall not exceed 365 days.
- Large-scale bonds pay interest annually or every six months.
- This Circular takes effect from the date of signature.
🌐 本文件的社会影响
- Positive impact: Strengthening management and regulation of the government bond market, ensuring financial market stability.
- Negative impact: It may cause difficulties for financial organizations in determining the appropriate issuance volume to meet capital-raising needs.
❓ 常见问题
What is the maximum issuance period for large-scale bonds with a three-year term?
The issuance period for a large-scale bond with a three-year term shall not exceed 180 days from the date of the first issuance, according to Article 5 of this Circular.
What is the minimum issuance volume for a large-scale bond?
The minimum issuance volume for a large-scale bond is one thousand (1,000) billion VND, according to Article 6 of this Circular.
How is the fixed nominal interest rate of large-scale bonds determined?
The fixed nominal interest rate of large-scale bonds is determined by the auction winning rate of the bond at the first issuance session under the government bond auction mechanism, according to Article 9 of this Circular.
How are large-scale bonds paid interest?
Large-scale bonds pay interest annually or every six months, according to Article 8 of this Circular.
When does this Circular take effect?
This Circular takes effect from the date of signature, according to Article 2 of this Circular.
全文
CIRCULAR
Guidance to amend and supplement Decision No. 46/2006/QD-BTC dated September 6, 2006
of the Minister of Finance promulgating the Government Bond Issuance Regulation
in large batches
_____________________
Pursuant to Decree No. 118/2008/NĐ-CP dated November 27, 2008 of the Government on the functions, tasks, powers, and organizational structure of the Ministry of Finance;
Pursuant to Decree No. 141/2003/NĐ-CP dated November 20, 2003 of the Government on the issuance of government bonds, government-guaranteed bonds, and local government bonds;
The Ministry of Finance guides the amendment and supplementation of certain provisions of the Government Bond Issuance Regulation in large batches issued together with Decision No. 46/2006/QD-BTC dated September 6, 2006 of the Minister of Finance as follows:
Article 1. Amend and supplement certain contents of the Government Bond Issuance Regulation in large batches issued together with Decision No. 46/2006/QD-BTC dated September 6, 2006 of the Minister of Finance as follows:
1. Amend Article 5 as follows:
"1. The issuance period for a large batch of three-year bonds shall not exceed 180 days from the date of the first issuance.
2. The issuance period for a large batch of bonds with a term of five years or more shall not exceed 365 days from the date of the first issuance."
2. SỬA ĐỔI ĐIỀU 6 NHƯ SAU:
"1. The issuance volume of a large batch of bonds shall be at least one thousand billion (1,000) billion VND.
2. The issuance volume of each tranche shall be decided by the State Treasury in accordance with the capital-raising needs of the state budget and market conditions, ensuring that the total issuance volume of large batches of bonds meets the minimum level specified in Clause 1 of this Article."
3. Amending Article 8 as follows:
"The term of large batch bonds shall be three years or more."
4. Amend Article 9 as follows:
"1. Large batch bonds shall have a fixed nominal interest rate, payable annually or semi-annually.
2. The fixed nominal interest rate of large batch bonds shall be determined based on the auction-winning interest rate of government bonds at the initial issuance session under the government bond auction mechanism.
3. The auction-winning interest rate of large batch bonds at subsequent issuance sessions shall be decided by the Director General of the State Treasury within the ceiling interest rate set by the Ministry of Finance."
Article 2. Implementation
1. This Circular takes effect from the date of signature.
2. The Director General of the State Treasury, the Head of the Department of Banking and Financial Institutions, and the Heads of units related to and subordinate to the Ministry of Finance shall be responsible for implementing this Circular.
3. In case of any difficulties during implementation, units are requested to promptly report to the Ministry of Finance for study and resolution./.
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