THE STATE BANK
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No. 62/2006/QD-NHNN
Hanoi, December 29, 2006
 
DECISION
PROMULGATING THE REGULATION ON EXECUTION OF INTEREST-RATE SWAP TRANSACTIONS
THE STATE BANK GOVERNOR
Pursuant to the 1997 Law on the State Bank of Vietnam and the 2003 Law Amending and Supplementing a Number of Articles of the Law on the State Bank of Vietnam;
Pursuant to the 1997 Law on Credit Institutions and the 2004 Law Amending and Supplementing a Number of Articles of the Law on Credit Institutions;
Pursuant to the Government's Decree No. 52/2003/ND-CP of May 19, 2003, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
At the proposal of the director of the Monetary Policy Department,
DECIDES:
Article 1.- To promulgate together with this Decision the Regulation on execution of interest-rate swap transactions.
Article 2.- This Decision takes effect fifteen days after its publication in "CONG BAO" and replaces the State Bank Governor's Decision No. 1133/2003/QD-NHNN of September 30, 2003, promulgating the Regulation on execution of interest-rate swap transactions.
Article 3.- The director of the Office, the director of the Monetary Policy Department and heads of units under the State Bank, directors of the State Bank's provincial/municipal branches, chairmen of management boards and general directors (directors) of commercial banks, joint-venture banks and banks with 100% foreign capital, general directors (directors) of foreign bank branches, chairmen of management boards and general directors (directors) of enterprises executing interest-rate swap transactions with banks shall implement this Decision.
 
 
FOR THE STATE BANK GOVERNOR
DEPUTY GOVERNOR


Nguyen Dong Tien
 
REGULATION
ON EXECUTION OF INTEREST-RATE SWAP TRANSACTIONS
(Promulgated together with the State Bank Governor's Decision No. 62/2006/QD-NHNN of December 29, 2006)
Article 1.-Scope and subjects of application
This Regulation provides for the execution of interest-rate swap transactions between commercial banks, joint-venture banks, banks with 100% foreign capital and foreign banks' branches operating in Vietnam (below referred to as banks for short) and non-bank enterprises which are established and operate under Vietnamese law (below referred to as enterprises for short), between banks, and between banks and foreign-based credit institutions. Interest-rate swap transactions shall be executed in accordance with this Regulation and international practice that is not against Vietnamese law.
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