The Government has issued a decree defining functions, tasks, powers and organisational structure of the State Bank of Vietnam (SBV), according to the Vietnam Government Portal.
The document prescribes the SBV as a ministerial agency performing the state management of monetary and banking activities and operating as the central bank performing the state management of public services under its jurisdiction.
The bank is responsible for making an annual inflation rate goal to submit to the Government and realising national monetary policies including refinancing, utilising interest rates, exchange rates, reserve requirement, open market operations and other instruments in order to implement the national monetary policies.
It is also empowered to apply special treatment to those credit organisations that violate the monetary and banking regulations by buying their stakes, dismissing their managers, undertaking mergers and acquisitions of organisations, imposing special supervision on these institutions and implementing their rights and missions regarding these institutions' bankruptcy in line with law.
The SBV also inspects and investigates complaints, denunciations and violations related to the gold, credit management, banking, monetary and foreign reserves fields; organises, controls and monitors the national payment system, provides payment services for banks, supervises the provision of intermediary payment services and monitors payment tools.
In regard to the implementation of the functions of the central bank, the SBV makes arrangement for minting, preservation and transportation of money, carries out the operations of issuance, withdrawal, replacement and destruction of money, refinances in order to provide short-term credit and payment instruments for the economy, regulates the money market and operates the interbank currency market.
The organisational structure of the SBV includes various departments, centres, provincial branches, the representative office in Ho Chi Minh City, an institute and three training schools, a newspaper and a magazine.-VNA
The document prescribes the SBV as a ministerial agency performing the state management of monetary and banking activities and operating as the central bank performing the state management of public services under its jurisdiction.
The bank is responsible for making an annual inflation rate goal to submit to the Government and realising national monetary policies including refinancing, utilising interest rates, exchange rates, reserve requirement, open market operations and other instruments in order to implement the national monetary policies.
It is also empowered to apply special treatment to those credit organisations that violate the monetary and banking regulations by buying their stakes, dismissing their managers, undertaking mergers and acquisitions of organisations, imposing special supervision on these institutions and implementing their rights and missions regarding these institutions' bankruptcy in line with law.
The SBV also inspects and investigates complaints, denunciations and violations related to the gold, credit management, banking, monetary and foreign reserves fields; organises, controls and monitors the national payment system, provides payment services for banks, supervises the provision of intermediary payment services and monitors payment tools.
In regard to the implementation of the functions of the central bank, the SBV makes arrangement for minting, preservation and transportation of money, carries out the operations of issuance, withdrawal, replacement and destruction of money, refinances in order to provide short-term credit and payment instruments for the economy, regulates the money market and operates the interbank currency market.
The organisational structure of the SBV includes various departments, centres, provincial branches, the representative office in Ho Chi Minh City, an institute and three training schools, a newspaper and a magazine.-VNA
