Decree No. 82/2007/ND-CP on providing information for the construction and management of national monetary policy

DECREE

Regulations on Providing Information for Building

and Managing National Monetary Policy

THE GOVERNMENT

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to the Law on the State Bank of Vietnam dated December 12, 1997 and the Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam dated June 17, 2003;

Pursuant to the Law on Credit Organizations dated December 12, 1997 and the Law Amending and Supplementing Certain Provisions of the Law on Credit Organizations dated June 15, 2004;

Pursuant to the Law on Statistics dated June 17, 2003.

Considering the proposal of the Governor of the State Bank of Vietnam,

DECREE

Chapter I.
GENERAL PROVISIONS

Article 1. Scope of Regulation

This Decree stipulates the organizations and individuals providing information to the State Bank of Vietnam (hereinafter referred to as the State Bank) for building the Balance Sheet of the Financial Sector, evaluating and forecasting economic and financial market trends to serve the formulation and implementation of national monetary policy.

The provision of information by credit organizations to the State Bank is not within the scope regulated by this Decree.

Article 2. Subjects Providing Information

1. Ministries:

a) Ministry of Finance;

b) Ministry of Planning and Investment;

c) Ministry of Labor, Invalids and Social Affairs.

2. Organizations established and operating under Vietnamese law that are not credit organizations (hereinafter referred to as non-credit organizations) conducting one or more of the following activities: accepting deposits; lending, discounting, leasing finance, bank guarantees, and other forms of credit; investment; foreign exchange trading; providing payment services; brokerage and insurance service provision; brokerage and securities trading; including:

a) Vietnam Deposit Insurance Corporation;

b) Vietnam Social Security;

c) Postal Savings Service Company;

d) Provincial and Central City Development Investment Fund;

đ) Insurance companies;

e) Guarantee Fund for Small and Medium Enterprises;

g) Payment service providers (credit cards, debit cards, remittance transfers, etc.);

h) Consumer loan companies offering installment loans, consumer loans, and home purchase installment loans;

i) Companies specializing in factoring operations;

k) Securities companies, fund management companies;

l) Other organizations.

3. Individuals and other organizations outside those specified in Clause 1 and 2 of Article 2 of this Decree provide information according to regulations in monetary statistical surveys.

Article 3. Explanation of Terms

In this Decree, the following terms are understood as follows:

1. National monetary policy is a component of the state's economic and financial policy aimed at stabilizing the value of currency, curbing inflation, promoting economic and social development, ensuring national defense and security, and improving people's living standards.

2. The financial sector includes: the State Bank, credit organizations, and non-credit organizations operating in Vietnam as specified in Clause 2 of Article 2 of this Decree.

3. The Balance Sheet of the Financial Sector is a comprehensive report reflecting the situation of financial and non-financial assets and liabilities between the financial sector and other sectors of the economy during a specific period.

4. Monetary statistical surveys are methods of collecting monetary information through statistical surveys. These surveys are outside the national statistical survey program and are conducted in accordance with the law on statistics.

Chapter II.
SPECIFIC PROVISIONS

Article 4. Types of information and deadlines for providing information

1. Types of information provided by ministries to the State Bank of Vietnam are as follows:

a) Policies, strategies, and development plans for the economy and society of Vietnam during each period; short-term and long-term economic development plans; plans and situations regarding foreign investment in Vietnam and Vietnamese investment abroad; plans for total social development investment capital;

b) Short-term and long-term fiscal policies; short-term and long-term state budget revenue and expenditure plans; short-term and long-term plans for state budget capital mobilization from domestic and international markets; state budget revenue and expenditure situations according to monthly and annual periods;

c) Statistical indicators related to monetary policy within the national statistical indicator system assigned by the Prime Minister to the Ministry of Planning and Investment (General Statistics Office) and other ministries and sectors responsible for collecting them;

d) Labor policies, labor market conditions, and unemployment rates according to quarterly and annual periods;

đ) The number and value of listed securities traded, deposited, and brokered according to monthly, quarterly, and annual periods;

e) Other information requested by the State Bank of Vietnam to serve the construction and implementation of national monetary policy;

2. Types of information provided by non-banking organizations to serve the construction and implementation of national monetary policy by the State Bank of Vietnam are as follows:

a) Reports on asset and liability situations according to monthly, quarterly, and annual periods;

b) Other information requested by the State Bank of Vietnam;

3. Types of information provided by individuals and organizations to the State Bank of Vietnam to serve periodic or ad hoc monetary survey requirements as stipulated by the State Bank of Vietnam;

4. Deadlines for providing information:

a) Organizations providing information to the State Bank of Vietnam according to the deadlines specified in Points 1 and 2 of this Article and the accompanying Appendices issued under this Decree;

b) The Ministry of Planning and Investment, the Ministry of Finance, and the Ministry of Labor, Invalids, and Social Affairs provide information about policies, strategies, and short-term and long-term plans to the State Bank of Vietnam when these documents are completed and released;

Article 5. Principles of information provision

Ministries, organizations (hereinafter referred to collectively as organizations), and individuals providing information to the State Bank of Vietnam must ensure the following principles:

1. Ensuring truthfulness, objectivity, accuracy, completeness, timeliness, and compliance with prescribed deadlines;

2. Uniformity in indicators, forms, calculation methods, units of measurement, statistical periods, and reporting in accordance with the prescribed information provision methods;

3. Avoiding duplication and overlap among provided indicators.

4. Not providing false information that causes difficulties for the construction and implementation of national monetary policy;

Article 6. Methods of Providing Information

1. For information not included in the list of state secrets, organizations and individuals provide it to the State Bank of Vietnam in writing, via fax, or through electronic data on storage media, transmitted over computer networks;

2. For information included in the list of state secrets, organizations provide it to the State Bank of Vietnam in accordance with the laws on protecting state secrets;

Article 7. Monetary Survey

1. Monetary surveys conducted by the State Bank of Vietnam within the national statistical survey program or outside of it to collect information on money and banking activities to serve the construction and implementation of national monetary policy;

2. The State Bank of Vietnam decides and takes the lead in conducting monetary surveys outside the national statistical survey program periodically or ad hoc from organizations and individuals within the territory of Vietnam in accordance with the regulations of the statistics law.

Article 8. Responsibilities of organizations and the State Bank

1. Ministries shall be responsible for providing information to the State Bank as follows:

a) The Ministry of Planning and Investment shall provide information as prescribed in point a and point c, Clause 1, Article 4 and Appendices I and II issued together with this Decree;

b) The Ministry of Finance shall provide information as prescribed in point b and point đ, Clause 1, Article 4 and Appendix I issued together with this Decree;

c) The Ministry of Labor, Invalids and Social Affairs shall provide information as prescribed in point d, Clause 1, Article 4 of this Decree.

2. Organizations that are not credit institutions shall be responsible for providing information as prescribed in Clause 2, Article 4 and Appendix III issued together with this Decree to the State Bank.

3. The State Bank shall be responsible for:

a) Collecting information provided by organizations and individuals to build the monetary balance sheet of the financial sector, assess and forecast economic development trends and the money market;

b) Using, storing, providing and publishing information in accordance with the laws on state secrets protection, statistics laws and other relevant laws;

c) Organizing surveys, compiling and processing results of periodic annual or ad hoc monetary statistical surveys;

d) Specifying technical standards and methods for exchanging information via computer networks;

đ) Guiding the provision of information according to the Appendices issued together with this Decree based on coordination with relevant ministries and organizations;

e) Providing monetary information and other aggregated information as specifically requested by relevant ministries.

Article 9. Inspection and Handling of Violations

1. The State Bank shall be responsible for urging, inspecting and reporting to the Government on the implementation of information provision by organizations as stipulated in this Decree.

2. Organizations and individuals who violate the provisions of this Decree and related legal documents shall be subject to handling according to the law, depending on the nature and severity of the violation.

Chapter III.
IMPLEMENTATION

Article 10. Effectiveness and Responsibility for Implementation

1. This Decree shall take effect fifteen days from the date of publication in the Official Gazette.

2. Ministers, heads of ministerial-level agencies, heads of government-affiliated agencies, Chairpersons of provincial People's Committees under central city administrations, General Directors (Directors) of non-credit organizations, other organizations and related individuals shall be responsible for implementing this Decree.