FROM SEPTEMBER 09, 2019, THE STATE BANK BILLS SHALL HAVE FACE VALUE FROM VND 100,000
This is the new content regulated by the State Bank of Vietnam in the Circular No. 16/2019/TT-NHNN on the issuance of the State Bank bills, which is issued on October 22, 2019 and takes effect on December 09, 2019.
To be specific, the State Bank bills are short-term valuable papers issued by the State Bank for the implementation of the national monetary policy. The State Bank bills shall be issued to credit institutions having Vietnam dong payment accounts at the State Bank. The duration of the State Bank bills shall be decided by the State Bank and must not exceed 364 days.
According to this Circular, the face value of the State Bank bills shall be VND 100,000 or multiple of it. The State Bank bills shall be issued with the selling prices which are lower than their face values and shall be paid once with the face values of the State Bank bills when they come to due. The Decision No. 362/1999/QD-NHNN regulated that the minimum face value of VND 100 million and face values of the multiples of VND 100 million, this Decision shall be null and void since the effective date of this Circular.
This Circular also give the instruction on determining the selling price; method of issuance, payment, depository, purchase and pledge of State Bank bills.
