Circular No. 35/2011/TT-NHNN on the publication and provision of information by the State Bank

CIRCULAR

Regulations on the publication and provision of information by the State Bank

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Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated June 16, 2010;

Pursuant to the Law on Credit Organizations No. 47/2010/QH12 dated June 16, 2010;

Pursuant to Decree No. 96/2008/NĐ-CP dated August 26, 2008 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

Based on Decision No. 77/2007/QĐ-TTg dated May 28, 2007 of the Government Chairman promulgating the Press Spokespersonship and Information Provision Rules for the Media;

The State Bank of Vietnam (hereinafter referred to as the State Bank) stipulates the publication and provision of information by the State Bank as follows:

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

This Circular regulates the publication and provision of information on currency, banking activities, and foreign exchange (hereinafter referred to as currency and banking) within the jurisdiction of the State Bank.

Article 2. Applicability

1. Officials, civil servants, employees, and units under the State Bank.

2. Organizations and individuals are provided with information by the State Bank in accordance with the provisions of the law.

Article 3. Principles of Publication and Provision of Information

1. Ensuring completeness, accuracy, and timeliness.

2. Implementing in accordance with the authority, procedures, and prescribed formalities.

3. Ensuring that there is no violation of regulations concerning the protection of state secrets.

Chapter II

INFORMATION DISCLOSURE

Article 4. Information to be Published

1. Legal regulatory documents on currency and banking issued by the State Bank.

2. Policies and decisions on the management of currency and banking by the Governor of the State Bank (hereinafter referred to as the Governor).

3. Notifications regarding the establishment, purchase, sale, division, merger, bankruptcy, dissolution, revocation of licenses, approval for expansion of networks, and administrative penalties imposed on credit institutions, branches of foreign banks, and representative offices of foreign credit institutions in Vietnam (hereinafter referred to as credit institutions).

4. Situations and developments in currency and banking.

5. The publication of special control information on credit institutions shall be carried out in accordance with the State Bank's regulations on special control over credit institutions.

Article 5. Authority to Publish Information

1. The Governor has the authority to publish information on currency and banking within the jurisdiction of the State Bank's management.

2. The Governor may delegate Deputy Governors of the State Bank (hereinafter referred to as Deputy Governors) and Heads of units under the State Bank to publish information on currency and banking within the scope of their assigned responsibilities and management as stipulated in this Circular.

3. Employees of the State Bank shall not represent the State Bank in publishing information on currency and banking unless authorized by the Governor. When speaking or responding to media interviews or publishing information on various means of propaganda without mentioning their agency or position, employees of the State Bank shall not disclose state secrets, investigation secrets, official secrets, false information, untruthful information, or information contrary to the Party's and State's policies and guidelines and those of the industry.

Article 6. Forms of Publishing Information

1. Posting on the State Bank's electronic information website (Website).

2. Organizing press conferences.

3. Publishing information at press conferences organized by Party agencies and government agencies.

4. Responding to media interviews.

5. Publishing information in the annual report of the State Bank.

6. Publishing information in other publications of the State Bank and other means of propaganda.

Article 7. Publishing Information on the State Bank of Vietnam's Website

1. The State Bank of Vietnam's website is the means for regularly publishing information on currency and banking as stipulated in Article 4 of this Circular.

2. Specific contents of the published information, periodicity, deadlines, and authority to publish information on the State Bank of Vietnam's website are specified in the attached Appendix to this Circular.

3. Procedures for updating, posting, and managing information published on the State Bank of Vietnam's website shall be carried out in accordance with the regulations on the organization, management, and operation of the State Bank of Vietnam's electronic information portal.

Article 8. Organizing Press Conferences

1. Every six months or at any time deemed necessary, the State Bank of Vietnam organizes press conferences to provide information to the media about its policies, important new documents issued by the State Bank of Vietnam, noteworthy events related to currency and banking. The Governor decides the time, method, location, content, and person in charge of the press conference.

2. The person in charge of the press conference answers questions from journalists within the scope of information stipulated in Article 4 of this Circular and has the right to refuse to answer issues:

a) Exceeding the delegated authority.

b) Undergoing inspection, verification, and lacking formal conclusions.

c) Belonging to the list of state secrets.

3. The State Bank of Vietnam’s Office (hereinafter referred to as the Office) is the lead unit preparing materials and organizing press conferences according to the Governor's directives. Units under the State Bank of Vietnam have the responsibility to provide the Office with relevant information to serve the press conference.

4. Heads of units attending the press conference shall attend when requested by the Governor.

Article 9. Publishing Information at Press Briefings Organized by Party and Government Agencies

1. The Governor appoints representatives to attend press briefings organized by Party and Government agencies that invite representatives of the State Bank of Vietnam to participate.

2. The Office serves as the lead unit preparing the content of information to be published at press briefings, submitting it for approval by the Governor or Deputy Governor responsible for information dissemination and publicity before publication and provision to the media.

3. Information published at press conferences organized by a unit as directed by the Governor or Deputy Governor assigned the task shall be prepared by the lead unit under the Governor's direction.

Article 10. Responding to Media Interviews

1. The Governor, Deputy Governors, and Heads of units under the State Bank of Vietnam are authorized to represent the State Bank of Vietnam in responding to media interviews regarding issues related to currency and banking.

2. Individuals responding to media interviews have the right to refuse to answer issues specified in Clause 2 of Article 8 of this Circular and issues not within their area of responsibility or management.

Article 11. Publishing Information in the Annual Report of the State Bank of Vietnam

1. The Governor decides the content of information to be published in the annual report of the State Bank of Vietnam.

2. The Monetary Policy Department serves as the lead unit, coordinating with relevant units to draft the annual report of the State Bank of Vietnam, submitting it for the Governor's approval before issuance.

Article 12. Publishing Information in Other Publications of the State Bank of Vietnam and Other Propaganda Means

The Governor, Deputy Governors, and Heads of units under the State Bank of Vietnam have the right to publish information on currency and banking in other publications of the State Bank of Vietnam and other propaganda means.

Article 13. Disclosure of Information in Unexpected and Abnormal Situations

1. The State Bank shall disclose unexpected and abnormal information in the following cases:

a) When it deems necessary to provide information through the press about important events and issues in the monetary and banking sector that may have significant social impact and require timely guidance or warning.

b) When the state management agency for the press or the Party and Government agencies request the disclosure of information about events and issues within the State Bank's jurisdiction.

c) When there is evidence that the press has published inaccurate or false information about the monetary and banking sector under the State Bank's management.

2. The heads of relevant units within the State Bank shall coordinate with the Office to promptly advise and propose to the Governor or Deputy Governor responsible for guiding the disclosure of information in the cases stipulated in Clause 1 of this Article.

Article 14. General Responsibilities of Units and Individuals within the State Bank in Disclosing Information

1. Deputy Governors and Heads of Units within the State Bank shall be responsible under the law and before the Governor for the content of the information they disclose.

2. The Office shall be responsible for:

a) Serving as the focal point to assist the Governor in managing the disclosure of information on money and banking.

b) Receiving reflections, suggestions, criticisms, complaints, and denunciations from organizations and individuals published by the press or transferred to the State Bank concerning money and banking, and submitting them to the Governor or Deputy Governor responsible for information dissemination work for handling.

c) Serving as the focal point to compile and submit to the Governor or Deputy Governor responsible for information dissemination work for handling matters related to sensitive, inaccurate, or false information about money and banking published by information dissemination means.

d) Organizing biannual press conferences in the banking industry.

3. Units within the State Bank shall be responsible for providing relevant information as prescribed in this Circular and according to the Governor's directives to support the disclosure of information on money and banking.

4. The State Bank branch in provinces and centrally-administered cities shall be responsible for managing the disclosure of information on money and banking within their respective areas. In cases where issues arise beyond their authority, the Director of the State Bank branch in provinces and centrally-administered cities shall promptly report to the Governor (through the Office) for handling.

Chapter III

INFORMATION DISCLOSURE

Article 15. Recipients of Information Provision

1. Agencies of the Party and State, political and social organizations as prescribed by law.

2. International financial organizations as committed by the Government of Vietnam and the State Bank.

3. Other organizations and individuals as directed by the Governor.

4. The provision of information to the press shall be carried out in accordance with the provisions on information disclosure set forth in Chapter 2 of this Circular.

Article 16. Scope of Information Provided

The scope of information provided includes monetary and banking information within the management authority of the State Bank.

Article 17. Authority to Provide Information

1. The Governor is the person authorized to decide on the provision of information to the recipients specified in Article 15 of this Circular.

2. The Governor may delegate Deputy Governors to decide on the provision of information to the recipients specified in Article 15 of this Circular within the scope of their responsibility, management, or according to the Governor's specific instructions.

3. Heads of Units at the headquarters of the State Bank shall provide information to the recipients specified in Article 15 of this Circular according to the Governor's or Deputy Governor's directives or authorization.

4. The Director of the State Bank branch in provinces and centrally-administered cities shall decide on the provision of information within their management scope based on the requirements of the provincial or centrally-administered city party committees and governments; provide information to competent state agencies and other organizations and individuals within their area in accordance with the law.

Article 18. Methods for Providing Information

1. Information shall be provided in writing, electronic files via the Internet, or other carriers of information.

2. Provision of information within the authority of the Governor and Deputy Governors:

a) The Governor or Deputy Governor shall assign a unit to prepare the content of the information to be provided.

b) The lead unit shall coordinate with related units to draft and submit the content of the information for approval by the Governor or Deputy Governor before sending it to the recipient according to regulations.

3. The head of a unit under the State Bank shall decide on the method of providing information within the delegated authority as stipulated in Clause 3 and Clause 4 of Article 17 of this Circular.

Article 19. Responsibilities of Units and Individuals in Providing Information

1. Officials, civil servants, employees, and units of the State Bank assigned to provide information and act as lead providers shall be responsible under the law and to the Governor for the information they have provided.

2. Organizations and individuals receiving information from the State Bank shall be responsible for managing, using, and ensuring the confidentiality of the information in accordance with the provisions of the law.

Article 20. Provision of Information Belonging to the List of State Secrets

The provision of information belonging to the list of state secrets shall be carried out in accordance with laws on protecting state secrets.

Chapter IV

IMPLEMENTATION

Article 21. Effective Date

1. This Circular takes effect from April 1, 2012.

2. This Circular replaces Decision No. 736/2003/QD-NHNN dated July 9, 2003, regarding the issuance of internal regulations on the publication and provision of banking information by the State Bank, and Decision No. 44/2007/QD-NHNN dated December 17, 2007, regarding the issuance of the Press Spokesperson and Information Provision Regulations of the State Bank to the press.

Article 22. Implementation organization

1. The Office shall serve as the lead entity guiding, inspecting, and urging the implementation of this Circular, and compiling and reporting to the Governor.

2. The heads of units under the State Bank shall be responsible for implementing this Circular and reporting on its implementation in the mid-year and annual reports submitted to the Office./.