THE STATE BANK

Circular No. 27/2013/TT-NHNN dated December 5, 2013 of the State Bank, amending and supplementing a number of articles of Circular No. 02/2012/TT-NHNN dated February 27, 2012, on guiding foreign exchange transactions among the State Bank of Vietnam and credit institutions and foreign banks’ branches

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

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

Pursuant to the Ordinance on Foreign Exchange No. 28/2005/PL-UBTVQH11 dated December 13, 2005;

Pursuant to the Government’s Decree 160/2006/ND-CP dated December 28, 2006 detailing the implementation of the Ordinance on Foreign Exchange;

Pursuant to the Government’s Decree No. 96/2008/ND-CP dated August 26, 2008 defining functions, duties, powers and organizational structure of the State Bank of Vietnam;

At the proposal of Director of the Transaction Bureau;

The Governor of the State Bank of Vietnam promulgates Circular amending and supplementing a number of articles of Circular No. 02/2012/TT-NHNN dated February 27, 2012, on guiding foreign exchange transactions between the State Bank of Vietnam and credit institutions and foreign banks’ branches,

Article 1. To amend and supplement a number of articles of Circular No. 02/2012/TT-NHNN dated February 27, 2012, on guiding foreign exchange transactions among the State Bank of Vietnam and credit institutions and foreign banks’ branches as follows:

1. Clause 3 Article 4 is amended and supplemented as follows:

“3. Being the credit institutions and foreign banks’ branches that have system of machinery, equipment and means for foreign exchange transaction, such as Bloomberg or Reuters Dealing systems, telephones or other means already been approved by the State Bank of Vietnam (hereinafter referred to as the State bank) for each period.”

2. Article 12 is amended and supplemented as follows:

“Article 12. Means of transaction

Means of foreign exchange transactions among the State Bank and the credit institutions and foreign banks’ branches are via Bloomberg or Reuters Dealing systems, telephone or other means of transaction approved by the State Bank for each period. In case the foreign exchange transactions are made via phone, the credit institutions and foreign banks’ branches must have a tape recorder to ensure the recording of the transactions and keep them for use as necessary.”

3. Clause 1 Article 19 is amended and supplemented as follows:

“1. The credit institutions and foreign banks’ branches having the foreign exchange transaction relation with the State Bank must make report to the State Bank (Transaction Bureau) according to the following provisions:

a) Credit institutions, foreign banks’ branches having the foreign exchange transaction relation with the State Bank and not having subscriber to use means of transaction via the Reuters Dealing system, must make report to the State Bank (Transaction Bureau) on the foreign exchange transaction situation with the other credit institutions and foreign banks’ branches as prescribed in Annex 02 (attached this Circular) not later than at 14:00 PM on the weekly working days;

b) Credit institutions, foreign banks’ branches having the foreign exchange transaction relation with the State Bank and having subscriber to use means of transaction via the Reuters Dealing system, must make report to the State Bank (Transaction Bureau) on the foreign exchange transaction situation with the State bank and the other credit institutions and foreign banks’ branches that have subscribers to use means of transaction via the Reuters Dealing system, according to the process to guide on reporting of foreign exchange transactions via the Reuters Dealing system promulgated by the Governor of State Bank.

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