CIRCULAR

ON STATEMENT MAKING AND INFORMATION PROVISION BY STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2010; and Law on amendments to the Law on Credit Institutions dated November 20, 2017;

Pursuant to the Government’s Decree No. 09/2017/ND-CP dated February 09, 2017 detailing the making of statements and provision of information by state administrative agencies to the press;

Pursuant to the Government’s Decree No. 16/2017/ND-CP dated February 17, 2017 on functions, duties, powers and organizational structure of the State Bank of Vietnam;  

At the request of Director General of Communication Department;

The Governor of the State Bank of Vietnam hereby promulgates a Circular on statement making and information provision by the State Bank of Vietnam.

Chapter I

GENERAL PROVISIONS

Article 1. Scope

1. This Circular provides for statement making and information provision by the State Bank of Vietnam (hereinafter referred to as “State Bank”), including making of statements and provision of information to the press; and provision of information to other regulatory bodies, organizations and individuals.

2. Provision of information by the State Bank to entities according to regulations of the Law on Deposit Insurance and Law on Prevention of Money Laundering shall be carried out as per regulations of law on deposit insurance and money laundering prevention.

3. Information included in state secret lists shall be provided in compliance with regulations of law on state secret prevention.

Article 2. Regulated entities

1. Departments, units, officials, public employees and workers affiliated to the State Bank.

2. Credit institutions and foreign bank branches (hereinafter referred to as “credit institutions”).

3. State-owned enterprises and partially state-owned enterprises which are established by the State Bank or representation of owner of state capital in which is assigned to the State Bank (hereinafter referred to as “enterprises managed by the State Bank”).

4. Regulatory bodies, organizations and individuals provided with information by the State Bank according to regulations of this Circular.

Chapter II

MAKING OF STATEMENTS AND PROVISION OF INFORMATION TO THE PRESS

Article 3. Persons in charge of making statements and providing information for the press

1. Persons in charge of making statements and providing information of the State Bank include:

a) Governor of the State Bank (hereinafter referred to as “Governor”);

b) Persons assigned to make statements and provide information for the press on a regular basis by the Governor (hereinafter referred to as “speaker”);

c) Persons authorized to make statements (hereinafter referred to as “authorized speakers”) or tasked with cooperating with the speaker in making statements or providing information concerning specific matters for the press by the Governor.

2. Officials, public employees and workers who are affiliated to the State Bank but are not the speaker or authorized speakers shall not make statements or provide information for the press in the name of the State Bank.

Article 4. Contents of statements and information provided for the press

1. Guidelines, policies and law on money, banking operations and foreign exchange (hereinafter referred to as “money and banking”).

2. Instructional documents on money and banking of the Governor.

3. Monetary and banking information, figures and situations.

4. Information related to issuance, amendment and revocation of establishment and operation licenses of credit institutions, establishment licenses of foreign bank branches, establishment licenses of representative offices of foreign credit institutions and other banking institutions; issuance and revocation of licenses for payment service provision of non-bank institutions; information on acquisition, selling, division, consolidation, merger, bankruptcy and dissolution of and special control over credit institutions per the law.

5. Information on system of credit institutions in Vietnam.

6. Information on operation and finance of enterprises managed by the State Bank per the law.

7. Other contents per the law.

Article 5. Methods for making statements and providing information for the press

1. Post statements and information on the web portal of the State Bank (Vietnamese and English pages); contents, duration and units in charge of information provision are provided for in the Appendix enclosed therewith.

2. Hold press conferences.

3. Make statements directly or give interviews to the press.

4. Send press releases and replies to the press in writing or via emails.

5. Other methods per the law.

Article 6. Making of statements and provision of information in unusual events

1. The speaker shall make statements and provide information in an adequate, timely and accurate manner in the following unusual events:

a) When there are important events or matters that have large social impact or the public has conflicting opinions regarding matters under the State Bank’s management, which poses a threat to the safety of the banking system;

b) When press agencies or press authorities request statements or information on matters under the State Bank’s management that have been mentioned in press works or events and matters mentioned in Point a herein;

c) When there are grounds for presuming that a press agency has posted or broadcasted false information on areas under the State Bank’s management, the speaker or authorized speaker shall request the press agency to post or broadcast corrected information as per the law.

2. For information which concerns multiple authorities and which the State Bank has been assigned to take charge of handling, the State Bank shall make statements and provide information in unusual events as prescribed by law.

3. For enterprises managed by the State Bank, when there is unusual information according to regulations of the Law on Enterprises and amending or superseding documents (if any), enterprises shall promptly provide information to have it posted to the web portal of the State Bank.

Article 7. Rights and responsibilities of units and individuals concerning making statements and providing information for the press

1. Rights and responsibilities of the Governor:

a) The Governor may directly make statements or assign the speaker or authorized speaker to make statements and provide information for the press;

b) The Governor shall direct information preparation and statement making regime of the State Bank.

2. Rights and responsibilities of the speaker and authorized speakers:

a) The speaker and authorized speakers may make statements and provide information for the press in the name of the State Bank;

b) Have the right to request relevant units and individuals to collect and provide information for making statements and providing information on a periodic basis and in unusual events according to regulations of this Circular;

c) Have the right to refuse or not make statements and provide information in the cases mentioned in Clause 2 Article 38 of the Press Law;

d) Hold the responsibility for making statements and providing information for the press according to regulations in Article 4 and Article 6 of this Circular, and take responsibility before the law and the Governor for contents of statements and information provided for the press;

dd) In case press agencies post or broadcast statements made by the speaker or authorized speakers incorrectly, the speaker or authorized speakers has/have the right to send written feedback to the press agencies, supervisory bodies of the press agencies and/or press authorities or file a lawsuit.

3. Rights and responsibilities of Communication Department:

a) Take charge of implementing regulations on making of statements and provision of information of the State Bank; provide communicating monetary and banking information; organize press conferences of the State Bank and other relevant press conferences;

b) Collect monetary and banking information from the press and other sources, and promptly report to and advise the Governor on handling measures;

c) Take charge and cooperate with units affiliated to the State Bank and relevant units in correcting and giving the State Bank’s feedback on information provided or posted inaccurately as per the law; handle contents that affect the public’s trust to ensure safety of the banking system and national monetary security;

d) Cooperate with relevant units of the banking sector in publishing communications documents and printed publications related to monetary policy management or concerning the banking system as per the law.

4. Rights and responsibilities of units affiliated to the State Bank:

a) Cooperate with Communication Department in providing information according to regulations of this Circular and directions of the Governor to support making of statements and provision of information of the State Bank; take responsibility for the accuracy and lawfulness of information provided;

b) During legislative document formulation and promulgation, cooperate with Communication Department in giving advice and propositions for the purpose of information provision as per the law.

5. Rights and responsibilities of State Bank branches of provinces and central-affiliated cities (hereinafter referred to as “provincial State Bank branches”):

a) Disseminate legislative documents of the State and instructional documents of the Governor in relation to money and banking in their provinces;

b) Upon receipt of request for information from the press related to monetary policy management and banking operations besides the information mentioned in Point a of this Clause, provincial State Bank branches shall promptly provide information and cooperate with Communication Department in ensuring sufficient, accurate and transparent information provision according to regulations.

6. Enterprises managed by the State Bank and credit institutions shall cooperate with Communication Department of the State Bank in providing information related to adoption of monetary and banking policies and information of interest to the public related to operations of these enterprises and credit institutions in an accurate and comprehensive manner and in compliance with the law.

Chapter III

PROVISION OF INFORMATION TO OTHER REGULATORY BODIES, ORGANIZATIONS AND INDIVIDUALS

Article 8. Information recipients

1. Units of the Communist Party, the State, Vietnam Fatherland Front and socio-political organizations per the law or regulations on cooperation in operation between the State Bank and these bodies.

2. International organizations with which the Vietnamese government or the State Bank has an information provision commitment, and governments of other countries according to international agreements and conventions to which Vietnam is a signatory.

3. Other organizations and individuals per the law.

Article 9. Scope of information provided

Scope of information provided shall include monetary and banking information according to regulations of the State Bank and existing law.

Article 10. Competence in information provision

1. The Governor has the power to decide provision of information to the recipients mentioned in Article 8 of this Circular, unless it falls under the cases mentioned in Point a Clause 3 herein.

2. Heads of units affiliated to the State Bank may provide information for the recipients mentioned in Article 8 herein as directed or authorized by the Governor.

3. Heads of provincial State Bank branches have the power to:

a) Decide provision of information under their management at the request of provincial governments and Party Executive Committees as prescribed by law;

b) Provide information for competent authorities and other organizations and individuals in their provinces as directed or authorized by the Governor.

4. Enterprises managed by the State Bank and credit institutions may cooperate with State Bank Office in providing information related to adoption of monetary and banking policies and information concerning the banking system for regulatory bodies, organizations and individuals as prescribed by law.

Article 11. Information provision methods

1. The Governor has the power to decide information provision methods and assign a unit to take charge of information provision.

2. The unit in charge shall cooperate with relevant units in preparing and proposing contents to the Governor for approval and sending approved contents to information recipients.

Article 12. Responsibilities of relevant organizations and individuals

1. Units, officials, public employees and workers affiliated to the State Bank and organizations and individuals involved in the banking sector assigned to provide information and take charge of information provision shall take responsibility before the law and the Governor for information provided.

2. Regulatory bodies, organizations and individuals provided with information by the State Bank shall manage, use and keep information received confidential as per the law.

Chapter IV

IMPLEMENTATION CLAUSE

Article 13. Effect

This Circular takes effect from February 20, 2021 and supersedes Circular No. 48/2014/TT-NHNN dated 31/12/2014 by Governor of the State Bank on statement making and information provision by State Bank of Vietnam.

Article 14. Implementing responsibilities

1. Communication Department shall take charge of providing guidance on and expediting the implementation of this Circular and submitting consolidated reports to the Governor.

2. Units in charge of information provision according to regulations of this Circular shall submit written biannual reports before June 15 and written annual reports before December 15 to Communication Department, which will submit consolidated reports to the Governor.

3. Head of State Bank Office, Director General of Communication Department and heads of affiliates of the State Bank, credit institutions, foreign bank branches and enterprises managed by the State Bank shall implement this Circular./.

APPENDIX

MONETARY AND BANKING INFORMATION PERIODICALLY PROVIDED ON WEB PORTAL OF STATE BANK OF VIETNAM

(Promulgated together with Circular No. 26/2020/TT-NHNN dated December 31, 2020 by Governor of the State Bank of Vietnam)

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