Trang Chủ
New regulations on the functions and tasks of the State Bank
According to the Decree, the State Bank, as a ministerial-level agency of the Government, and the Central Bank of the Socialist Republic of Vietnam, is tasked with regulating monetary, banking, and foreign exchange activities (collectively referred to as monetary and banking) and public services under its management. Additionally, it carries out a central bank’s functions, including issuing currency, acting as the bank for credit institutions, and providing monetary services for the Government.
The State Bank has duties and powers as prescribed by the Law on the State Bank of Vietnam, the Law on the Organization of the Government, the Government's regulations on the functions, tasks, powers, and organizational structure of ministries and ministerial-level agencies, and specific tasks and powers, including:
Submitting to the Government draft laws, draft resolutions of the National Assembly, draft ordinances, draft resolutions of the National Assembly Standing Committee, as well as draft decrees and resolutions of the Government in accordance with the legislative development program approved for the State Bank; and resolutions, projects and schemes assigned by the Government and the Prime Minister; strategies, long-term and annual development plans; national target programs, action programs and important national projects and works within the State Bank’s management.
Submitting to the Prime Minister draft decisions, directives and other documents related to the fields overseen by the State Bank or as assigned.
Issuing circulars and other documents within the State Bank's state management. Directing, guiding, inspecting and being responsible for the implementation of issued legal documents; approved programs, projects and development plans under the State Bank's management.
Formulating annual inflation targets to submit to the Government; utilizing monetary policy instruments such as refinancing, interest rates, exchange rates, required reserves, open market operations, the issuance of State Bank bills, and other tools and measures to conduct monetary policy effectively.
Gathering statistical data, conducting statistical surveys, as well as collecting and storing information on domestic and foreign economics, financial, monetary and banking matters under the authority of the State Bank; Analyzing and forecasting trends in monetary and banking issues; disclosing monetary and banking information in accordance with legal provisions.
Granting, amending, supplementing, and revoking licenses for the establishment and operation of credit institutions, as well as licenses for the establishment of foreign bank branches, and representative offices of foreign credit institutions, and other foreign organizations engaged in banking activities; granting, amending, supplementing, and revoking licenses for providing intermediary payment services for non-bank organizations; granting, renewing, revising the substances in and revoking licenses for providing credit information services (certificates of eligibility for organizations offering credit information services); granting and revoking registration certificates for microfinance programs and projects; approving the purchase, sale, division, separation, consolidation, merger, and dissolution of credit institutions in accordance with the law.
Deciding on special measures for handling credit institutions that significantly violate laws on monetary and banking issues, encounter financial difficulties, or pose risks to the stability of the banking system. These measures include purchasing shares of credit institutions; terminating, temporarily suspending, or dismissing managers and executives of credit institutions; deciding to merge, consolidate, or dissolve credit institutions; placing them under special control; and exercising its duties and powers as outlined in the law governing bankruptcy proceedings for credit institutions.
Approving the list of candidates elected or appointed as members of the Boards of Directors, the Boards of Members, the Supervisory Boards, and General Directors (Directors) of credit institutions; approving other changes in accordance with the provisions of the Law on Credit Institutions.
Implementing state management on anti-money laundering in accordance with the provisions of the Law on anti-money laundering.
Conducting banking inspection, examination, and supervision; inspection and examination of foreign exchange activities, gold trading, and anti-money laundering activities; overseeing credit activities; requiring inspected and supervised institutions to hire independent auditing organizations to conduct audits in accordance with legal provisions; addressing any violations of laws related to monetary and banking activities, foreign exchange and anti-money laundering in accordance with the law.
Implementing state management of deposit insurance in accordance with the Law on Deposit insurance.
Monitoring, forecasting, and analyzing the results of the balance of payments; reporting on Vietnam’s balance of payments as stipulated by the law; and acting as the focal point responsible for providing data on Vietnam’s balance of payments to domestic and foreign organizations in accordance with the law.
Organizing, managing, operating and supervising the national payment system to ensure its safety and efficiency, providing payment services to banks; supervising the provision of intermediary payment services; participating in the organization and supervision of payment systems within the economy; regulating payment instruments throughout the economy.
Overseeing foreign exchange transactions, foreign exchange activities, and gold trading activities.
Carrying out international cooperation in the fields of monetary, banking and foreign exchange in accordance with legal provisions; fulfilling Vietnam's obligations as a member of international organizations on anti-money laundering.
Ensuring stability in the monetary and financial system.
Carrying out typical operations of a central bank.
Providing special loans to credit institutions in accordance with legal provisions.
Establishing a credit information system and offering credit information services; performing the state management over credit information organizations; analyzing and assessing the creditworthiness of legal entities and individuals within Vietnam.
Serving as an agent to deliver banking services for the State Treasury.
Collaborating with the Ministry of Finance on the issuance of government bonds and government-guaranteed bonds.
Approving investment policies and approving investment programs and projects under the management of the State Bank; monitoring, evaluating, supervising, inspecting, and examining the implementation of plans, programs, and projects under the management of the State Bank according to the provisions of law.
The organizational structure of the State Bank
The Decree outlines the organizational structure of the State Bank, which includes the following departments and units:
1. The Monetary Policy Department.
2. The Payment Department.
3. The Department of Credit for Economic Sectors.
4. The Forecasting, Statistics - Monetary and Financial Stabilization Department.
5. The International Cooperation Department
6. The Department of Legal Affairs
7. The Finance and Accounting Department
8. The Organization and Personnel Department
9. The SBV Office
10. The SBV Inspectorate
11. The Central Banking Department
12. The Information Technology Department
13. The Issue and Vault Department
14. The Foreign Exchange Management Department
15. The Anti-Money Laundering Department
16. The Credit Institutions Supervision Department
17. The Department of Banking System Safety
18. The SBV Regional branches
19. The National Credit Information Center of Vietnam
20. The Banking Times
The units listed from 1 to 18 serve as administrative organizations that assist the Governor of the State Bank in fulfilling both the state management and central bank functions. The units numbered 19 and 20 are public service units that support the State Bank’s state management functions.
The Monetary Policy Department, the Forecasting, Statistics - Monetary and Financial Stabilization Department each has 6 divisions. The Department of Credit for Economic Sectors, the International Cooperation Department, the Department of Finance - Accounting, and the Department of Organization and Personnel each has 5 divisions. The Payment Department has 4 divisions. The Department of Legal Affairs has 3 divisions.
The Governor of the State Bank shall submit a list of other public service units under the State Bank of Vietnam to the Prime Minister for promulgation.
Additionally, the Governor shall issue a decision that specifies the functions, tasks, powers, and organizational structures of the various organizations and units under the State Bank, in accordance with legal provisions.
Department of Research and International Cooperation (translation)
