What are regulations on registration, depositing and listing đá bóng trực tiếp government bonds in Vietnam?

What are regulations on registration, depositing and listing đá bóng trực tiếp government bonds in Vietnam?

Pursuant to Article 18 đá bóng trực tiếp the Decree 95/2018/NĐ-CP stipulating registration, depositing and listing đá bóng trực tiếp government bonds in Vietnam as follows:

1. Registration and depositing đá bóng trực tiếp government bonds:

a) Government bonds shall be registered and deposited at the VSD at the request đá bóng trực tiếp the State Treasury.

b) Based on the State Treasury’s notification đá bóng trực tiếp results đá bóng trực tiếp a bond issue, the VSD shall carry out procedures for registration đá bóng trực tiếp government bonds.

c) Based on the State Treasury’s confirmation đá bóng trực tiếp completion đá bóng trực tiếp bond settlement, the VSD shall carry out procedures for depositing đá bóng trực tiếp government bonds in accordance with the Law on securities.

2. Listing đá bóng trực tiếp government bonds:

a) Government bonds shall be registered and deposited at the VSD, listed and traded at the Stock Exchange, except foreign currency bonds.

b) Based on the VSD’s notification đá bóng trực tiếp bond registration and the State Treasury’s request, the Stock Exchange shall carry out procedures for listing đá bóng trực tiếp government bonds in accordance with the Law on securities.

What are regulations on trading đá bóng trực tiếp government bonds in Vietnam?

Pursuant to Article 19 đá bóng trực tiếp the Decree 95/2018/NĐ-CP stipulating trading đá bóng trực tiếp government bonds in Vietnam as follows:

1. Government bonds shall be traded on the securities market by order-matching method and/or put-through (negotiated trading) method in accordance with the Law on securities and the Stock Exchange’s regulations approved by a competent authority.

2. Government bonds shall be traded on the securities market in the following forms:

a) Outright;

b) Repo and sell/buy back;

c) Other trading forms as prescribed by the Law on securities.

3. Repo and sell/buy back transactions đá bóng trực tiếp government bonds set forth in Point b Clause 2 đá bóng trực tiếp this Article are conducted by applying the following principles:

a) Term đá bóng trực tiếp a repo or sell/buy back transaction shall not exceed 01 year;

b) The buyer and seller shall themselves carry out a negotiation and enter into a repurchase agreement or sell and buy back agreement, which includes the following contents: quantity; interest rate (or bond price); term; collateral; hedge ratio; rights and obligations đá bóng trực tiếp contractual parties; disposal đá bóng trực tiếp collateral in case đá bóng trực tiếp either party’s failure to make the previously agreed settlement.

4. The SBV shall provide guidance on classification đá bóng trực tiếp debts and credit risk provisions for credit institutions that enter into repos and sell/buy back transactions đá bóng trực tiếp government bonds on the securities market.

5. The Minister đá bóng trực tiếp Finance shall provide guidance on trading đá bóng trực tiếp government bonds on securities market in accordance with regulations herein and the Law on securities.

What are requirements for issuing government bonds to ensure market liquidity in Vietnam?

Pursuant to Clause 1 Article 20 đá bóng trực tiếp the Decree 95/2018/NĐ-CP stipulating requirements for issuing government bonds to ensure market liquidity in Vietnam as follows:

1. Requirements:

a) Government bonds are issued to ensure the market liquidity when a market maker gives a firm quotation under regulations in Point c Clause 2 Article 27 herein but fails to provide enough government bonds for trading.

b) The quantity đá bóng trực tiếp government bonds issued for ensuring the market liquidity at all times must not exceed the annual limit on government bonds approved by a competent authority.

c) The market maker is required to provide a minimum margin to the State Treasury as prescribed in Clause 2 đá bóng trực tiếp this Article.

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