Circular No. 30/2012/TT-NHNN on the collection and payment of securities custody fees at the State Bank of Vietnam

Article 1. Scope of Regulation

This Circular stipulates the rates, methods of calculation, and collection and payment of securities depository fees at the State Bank of Vietnam (hereinafter referred to as the State Bank) according to the regulations on securities depository of the State Bank.

Article 2. Applicability

Credit institutions, foreign bank branches, and other organizations holding securities deposited at the State Bank in accordance with the law (hereinafter referred to as depository members).

Article 3. Principles for Collection and Payment of Fees

1. Depository members shall be responsible for transferring and paying fees within the prescribed time limit. For depository members with settlement accounts at the State Bank, the State Bank may automatically deduct the fees from their settlement accounts at the State Bank.

2. The currency used for the payment of securities depository fees is the Vietnamese Dong. For securities denominated in foreign currencies that are deposited, the State Bank calculates and collects fees based on the converted value of the securities according to the average inter-bank foreign exchange rate published by the State Bank on the day the fee is collected.

Article 4. Fees and Rates

1. Securities depository fees are collected based on the total face value of securities held directly by depository members at the State Bank and deposited in accounts opened by the State Bank at the Vietnam Securities Depository Center (excluding securities owned by the State Bank).

2. The rate for securities depository fees is 0.2 dong per 100,000 dong face value of securities per month.

3. The quantity of overburden discharged in the reporting period is determined based on the project investment and construction documents for mining projects approved by competent state authorities or based on environmental impact assessment reports and related documents approved by competent state authorities.

1. The securities depository fee payable by depository members in a month:

Where:

- A month is considered to have 30 days (from the first day of the month to the last day of the month);

- L: is the amount of securities depository fees that depository members must pay in a month;

- i: are the days in the month when there are securities deposited;

- Xi: is the total face value of securities deposited by depository members calculated at the end of each day i;

- SXi: is the total face value of securities deposited by depository members for all days in the month.

2. Based on the records of securities deposited by depository members, the State Bank will prepare a Fee Calculation Schedule (annexed to this Circular) to accurately determine the amount of securities depository fees to be collected in the month.

Article 6. Time Limit for Collection of Fees

Securities depository fees will be calculated and collected monthly before the 10th day of the following month.

Article 7. Effective Date

This Circular takes effect from January 1, 2013, and replaces Decision No. 58/2006/QĐ-NHNN dated December 15, 2006 of the Governor of the State Bank of Vietnam promulgating the rate of securities depository fees.

Article 8. Implementation organization

The Director of the Office, Heads of the Finance and Accounting Department, the Director of the Trading Department, the Head of the Information Technology Department, Heads of units related to the State Bank, Directors of the State Bank branches in provinces and centrally-administered cities, Chairmen of the Board of Directors, Chairmen of the Board of Members, and General Managers (Directors) of credit institutions, foreign bank branches, and other organizations depositing securities at the State Bank are responsible for implementing this Circular./.