Decision No. 16/2013/QĐ-TTg stipulates the purchase and sale of gold bars in the domestic market by the State Bank of Vietnam. This Decision applies to the State Bank and credit institutions, enterprises permitted to engage in the purchase and sale of gold bars.
적용 범위
The State Bank of Vietnam and credit institutions, enterprises permitted to engage in the purchase and sale of gold bars.
핵심 사항
- The State Bank has the right to intervene in the gold market through the purchase and sale of gold bars according to predetermined plans.
- The plan for purchasing and selling gold bars includes the timing, quantity, form, and target of implementation.
- The form of implementing the purchase and sale of gold bars may be direct or through bidding.
- The State Bank specifies the documentation, procedures, and processes for purchasing and selling gold bars with credit institutions and enterprises permitted to do so.
- This Decision takes effect from March 5, 2013.
🌐 이 문서의 사회적 영향
- Positive impact: Helps stabilize the domestic gold market and ensure the safety of state foreign exchange reserves.
- Negative impact: May impose cost burdens on the State Bank when carrying out market intervention activities.
❓ 자주 묻는 질문
When does the State Bank have the right to purchase and sell gold bars?
The State Bank has the right to purchase and sell gold bars to intervene in the market according to monetary policy objectives during each period.
What contents are included in the State Bank's plan for purchasing and selling gold bars?
The plan includes the timing, quantity, form, and target of purchasing and selling gold bars.
What forms does the State Bank use to purchase and sell gold bars?
The State Bank may implement the purchase and sale of gold bars directly or through bidding.
When does this Decision take effect?
This Decision takes effect from March 5, 2013.
What responsibilities does the State Bank have in the purchase and sale of gold bars?
The State Bank is responsible for determining the market intervention plans and ensuring the safety of foreign exchange reserves through these activities.
전문
Pursuant to …;
On the trading of gold bars in the domestic market
of the State Bank of Vietnam
___________________
Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;
Pursuant to Decree No. 24/2012/NĐ-CP dated April 3, 2012 of the Government on gold trading activities management;
Pursuant to Decree No. 86/1999/NĐ-CP dated August 30, 1999 of the Government on the management of State foreign exchange reserves;
At the proposal of the Governor of the State Bank of Vietnam;
The Prime Minister promulgates this Decision on the trading of gold bars in the domestic market by the State Bank of Vietnam,
PART I
GENERAL PROVISIONS
Article 1. Scope of Regulation and Applicability
This Decision regulates the trading activities of gold bars in the domestic market by the State Bank of Vietnam (hereinafter referred to as the State Bank) with credit institutions and enterprises permitted to trade in gold bars (hereinafter referred to as credit institutions and permitted enterprises).
Article 2. Principles for the trading of gold bars by the State Bank
1. Based on the objectives of monetary policy in each period, the State Bank trades in gold bars to intervene and stabilize the domestic gold market and may purchase gold bars to supplement the State's foreign exchange reserves.
2. The State Bank conducts trading in gold bars with credit institutions and permitted enterprises according to the trading plan for each period.
3. The determination of the purchase price and sale price of gold bars in the domestic market between the State Bank and credit institutions and permitted enterprises shall be carried out in accordance with the regulations of the State Bank applicable to each form of trading in gold bars as stipulated in Article 6 of this Decision.
Article 3. Rights and responsibilities of the State Bank
1. The Governor of the State Bank decides on the intervention plan for the gold market in accordance with Article 5 of this Decision.
2. When conducting trading in gold bars in the domestic market, the State Bank is authorized to open accounts, purchase gold, sell gold on accounts abroad, or purchase gold abroad for importation to supplement the State's foreign exchange reserves or sell gold abroad.
3. The State Bank has the responsibility to ensure the safety of the State's foreign exchange reserves through compliance with regulations on the structure, standards, and investment limits for the State's foreign exchange reserves when conducting trading in gold bars.
Article 4. Accounting entries
1. The State Bank decides on the application of exchange rates and gold prices for conversion into US dollars and Vietnamese dong to serve accounting work and reflect fluctuations in exchange rates and gold prices in the domestic and international markets.
2. The State Bank records all costs related to the activities of purchasing, selling, importing, exporting gold, and producing gold bars as operational expenses of the State Bank.
3. Any losses arising from market intervention activities are handled in accordance with the financial regulations of the State Bank.
Chapter II
TRADING IN GOLD BARS OF
STATE BANK OF VIETNAM
Article 5. Plan for Purchasing and Selling Gold Bars
The plan for purchasing or selling gold bars by the State Bank to intervene in the gold market in each period includes the following contents:
1. Time of purchase and sale.
2. Quantity of gold bars purchased and sold.
3. Form of purchase and sale.
4. Parties implementing the purchase and sale.
5. Specific purchase and sale prices appropriate to each form of implementation as stipulated in Article 6 of this Decision.
6. Other relevant contents.
Article 6. Forms of Implementation for Purchasing and Selling Gold Bars
The State Bank selects and decides specifically on the purchase and sale of gold bars in each transaction according to one of the following forms:
1. Direct purchase and sale of gold bars.
2. Purchase and sale of gold bars through bidding.
Article 7. Procedures for buying and selling gold bars
The State Bank shall specify in detail the documentation, procedures, and processes for buying and selling gold bars with credit institutions and enterprises permitted to buy and sell gold bars as prescribed in Article 6 of this Decision.
Chapter III
IMPLEMENTING PROVISIONS
Article 8. Effective Date
This Decision takes effect from March 5, 2013.
Article 9. Responsibility for implementation
1. The State Bank shall provide detailed guidance and organize the implementation of buying and selling gold bars in accordance with the provisions of this Decision.
2. The Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairpersons of provincial and centrally-administered city People's Committees, and related organizations and individuals are responsible for implementing this Decision./.
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