This Decision stipulates the fee for securities custody at the State Bank of Vietnam applicable to credit institutions and other organizations participating in custody. The fee includes custody fees and transfer fees, with specific thresholds and rates.
Scope of application
Credit institutions and other organizations participate in securities custody at the State Bank of Vietnam to engage in money market operations.
Key points
- Credit institutions and other organizations → must pay the securities custody fee (2 dong per 1 million VND value of securities/month, minimum 100,000 VND/month, maximum 10 million VND/month)
- Credit institutions and other organizations → must pay the securities transfer fee upon request of the owner (5 dong per 1 million VND value of securities/time, minimum 2,000 VND/time, maximum not exceeding 500,000 VND/time)
- The custody and transfer fees apply from February 1, 2007
🌐 Social impact of this document
- Positive impact: Helps the State Bank of Vietnam manage money market operations more effectively.
- Negative impact: Increased cost burden on credit institutions and other organizations participating in securities custody.
❓ Frequently asked questions
What is the securities custody fee rate?
The securities custody fee rate is 2 dong per 1 million VND value of securities/month, minimum 100,000 VND/month, maximum 10 million VND/month.
When must credit institutions and other organizations pay the securities transfer fee?
Credit institutions and other organizations must pay the securities transfer fee upon request of the owner, at a rate of 5 dong per 1 million VND value of securities/time, minimum 2,000 VND/time, maximum not exceeding 500,000 VND/time.
When does the fee rate apply?
The custody and transfer fees apply from February 1, 2007.
Who is responsible for implementing this Decision?
The Director of the Office, Heads of the Accounting and Finance Department, the Director of the Trading Department, Heads of relevant units under the State Bank of Vietnam, Directors of the State Bank of Vietnam branches in provinces and centrally-administered cities, Chairmen of the Board of Directors, General Managers (Directors) of credit institutions and other organizations participating in securities custody at the State Bank of Vietnam are responsible for implementing this Decision.
Which organizations does this Decision apply to?
This Decision applies to credit institutions and other organizations participating in securities custody at the State Bank of Vietnam to engage in money market operations.
Full text
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STATE BANK OF VIETNAM |
SOCIALIST REPUBLIC OF VIETNAM |
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Number: 58/2006/QĐ-NHNN |
Hanoi, December 15, 2006 |
Pursuant to …;
Issuing the fee for securities custody at the State Bank of Vietnam
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam 1997 and the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam 2003;
Pursuant to the Law on Credit Institutions 1997 and the Law Amending and Supplementing Certain Provisions of the Law on Credit Institutions 2004;
Pursuant to Decree No. 52/2003/NĐ-CP dated May 19, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
Pursuant to Decree No. 07/2006/NĐ-CP dated January 10, 2006 of the Government on the Financial System of the State Bank of Vietnam;
At the proposal of the Director of the Accounting and Finance Department.
DECISION:
Article 1. Issuing the fees for securities custody applicable to credit institutions and other organizations participating in securities custody at the State Bank of Vietnam to engage in money market operations as prescribed in the Securities Custody Regulations at the State Bank of Vietnam issued pursuant to Decision No. 1022/2004/QĐ-NHNN dated August 17, 2004. The fees for securities custody include two types of fees as follows:
1. The fee for securities custody (calculated based on the average monthly balance of the customer's securities account) is 2 dong per million dong value of securities per month, with a minimum of 100,000 dong per month and a maximum of 10 million dong per month.
2. The fee for transferring securities upon the owner's request is 5 dong per million dong value of securities, with a minimum of 2,000 dong and a maximum of 500,000 dong per transfer.
Article 2. This Decision takes effect from February 1, 2007.
Article 3. The Head of the Office, the Director of the Accounting and Finance Department, the Branch Manager, the Heads of relevant units under the State Bank of Vietnam, the Managers of the State Bank of Vietnam branches in provinces and centrally governed cities, the Chairmen of the Boards of Directors, and the General Directors (Directors) of credit institutions and other organizations participating in securities custody at the State Bank of Vietnam to engage in money market operations are responsible for implementing this Decision./.
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Place of Receipt: |
DIRECTOR |
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