CREDIT INSTITUTIONS MUST BE RESPONSIBLE FOR STATISTICAL DATA
A number of Articles of the Circular No. 35/2015/TT-NHNN on the statistical reporting system applied to credit institutions and foreign bank branches amended and supplemented by the Circular No. 11/2018/TT-NHNN dated April 17, 2018 of the State Bank of Vietnam.
In accordance with the new regulations, the headquarter of a credit institution is the focal point that sends reports. Credit institutions shall assume responsibility for adequacy, timeliness and accuracy of general data of the entire system and detailed data of specific branches all of which are sent to the State Bank; in previous regulations, this responsibilities belong to the headquarter of a credit institution.
In making reports, Statement of sales generated from foreign exchange sale and purchase transactions between credit institutions (exclusive of those between credit institutions and the State Bank). Statement of sales based on the transaction date, not the valuation date. Indirect investors are foreign organizations or individuals making indirect investments in Vietnam through purchase of shares, stocks, bonds and other valuable papers, securities investment funds, and through other intermediate financial institutions, without directly getting involved in management of investments.
This Circular takes effect on October 01, 2018.
