Fix Business Regulations, Provide Derivative Product Derivatives

The State Bank of Vietnam is drafting a Circular amending and supplementing a number of articles of Circular No. 01/2015 / TT-NHNN dated January 6, 2015 regulating business activities, providing derivative derivative products Funds of Commercial Bank (Commercial Bank), Foreign Bank Branch (NHNNG). The State Bank of Vietnam (SBV) said, based on the Law on State Bank, Law on Credit Institutions (CIs), regulations The relevant law, the actual situation of business activities, providing derivative product rates of commercial banks, banks and to ensure the implementation of safe and effective derivative derivative products and efficiency and In accordance with the provisions of law, while strengthening the development of the derivative market, the SBV draft the Circular amending and supplementing a number of articles of the Circular No. 01/2015 / TT-NHNN. The statue of the product derivative product includes foreign investors who own government bonds issued in VND in the domestic market

. The SBV said this regulation aims to create conditions for foreign investors to be organizations (foreign investment funds, international organizations such as IFC, ADB ..
) investing in government bonds Released in VND in the domestic market was conducted interest rate derivative transactions for the prevention of interest rate risks for government bonds that foreign investors are holding. At the same time, draft circulars It also provides conditions for customers who are foreign investors to implement derivative product derivative products. The addition of this Regulation is also consistent with the customers who are carried out for foreign currency transactions (including foreign investors) according to the provisions of Circular No. 02/2021 / TT-NHNN on March 31, 2021 of the State Bank Guiding foreign currency trading in the foreign currency market of credit institutions is allowed to operate for foreign exchange. Besides, the draft also added a number of principles that commercial banks and banks must comply with business implementation, providing derivative product derivatives. Detective, where customers are legal entities without or without enough foreign currencies to fulfill payment obligations arising when implementing a derivative interest rate contract, the customer is Purchasing foreign currency at credit institutions, industrial banks to fulfill the payment obligations arising when performing the interest rate derivative contract, because in fact having this circumstances and credit institutions and banks have difficulty in external sale The currency to pay for net loss payment obligations arising when performing an interest rate derivative contract.NTM, NHNNs are agreed with customers on c Net payment of derived derivative states. This provision to minimize credit risks, increase liquidity, creating conditions for derivative market derivative market is more stable, due to the nature of interest rate derivative transactions is often medium and long transactions Deadenment should have a large partner risk. In addition, the draft also supplements the regulations for interest rate swap products between the two currencies, where customers receive foreign currency from the interest income in the transaction derivative interest rates or receiving foreign currency from the exchange of nominal original capital, this foreign currency source is used to pay for obligations arising from the original transaction of customers or customers to sell foreign currency This for commercial banks, business banks, providing that interest rate derivative products. The purpose of this Regulation to clarify the case where customers receive foreign currency, only use that foreign currency to serve the obligations arising from the original contract of the customer or must sell to the bank, in accordance with the bank Regulations on limited transactions in foreign currency in the country

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