Thông tư 35/2011/TT-NHNN

CIRCULAR

PROVIDING FOR THE DISCLOSURE AND PROVISION OF INFORMATION OF THE STATE BANK

Pursuant to the Law No. 46/2010/QH12 on the State Bank of Vietnam of June 16, 2010;

Pursuant to the Law No. 47/2010/QH12 on Credit Institutions of June 16, 2010;

Pursuant to the Government's Decree No. 96/2008/ND-CP of August 26. 2008, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

Pursuant to the Prime Minister’s Decision No. 77/2007/QD-TTg of May 28, 2007 promulgating the Regulation on delivering speech and providing information to the press

The State Bank of Vietnam (hereinafter referred to as the State Bank) hereby stipulates the disclosure and provision of information of the State Bank as follows:

Chapter 1.

GENERAL PROVISIONS

Article 1. Scope of regulation

This Circular stipulates the disclosure and provision of information on currencies, banking and foreign exchange operation (hereinafter referred to as currencies and banking) under the competence of the State Bank.

Article 2. Subjects of application

1. Cadres, civil servants, public employees, units under the State Bank.

2. Organizations, individuals who have been provided with information by the State Bank under provisions of law.

Article 3. Principles for disclosure and provision of information

1. Ensuring the completeness, accuracy and promptness.

2. Complying with the prescribed procedures, order and competence.

3. Not violating the provisions on protection of the State secrets.

Chapter 2.

DISCLOSURE OF INFORMATION

Article 4. Disclosed information/Information being disclosed

1. Legal documents on currencies and banking promulgated by the State Bank.

2. Guidelines and decisions for direction by the Governor of the State Bank (hereinafter referred to as the Governor) on currencies and banking.

3. Notification of the establishment, purchase, sale, separation, division, merger, acquisition, dissolution, revocation of licenses, approval on network extension by and administrative sanctions imposed on credit institutions, foreign bank branches, representative offices of the foreign credit institutions in Vietnam (hereinafter referred to as credit institutions).

4. The ongoing situation of currencies and banking.

5. The disclosure of information of special control over credit institutions shall be done in accordance with provisions of the State Bank on special control over credit institutions.

Article 5. The competence to disclose information

1. The Governor is competent to disclose information on currencies and banking under the management competence of the State Bank.

2. The Governor assigns the Deputy Governor of the State Bank (hereinafter referred to as the Deputy Governor), Heads of units of the State Bank to disclose information on currencies and banking within the scope of management and administration as stipulated in this Circular.

3. Cadres, civil servants, public employees of the State Bank are not allowed to disclose on behalf of the State Bank information on currencies and banking if not assigned by the Governor. Upon delivering speech, giving response to the press interview or making publication on mass media in their personal name, cadres, civil servants, public employees of the State Bank are not allowed to disclose State secrets, investigation secret, public-duty secrets, incorrect information, untruthful information and other information contradictory to guidelines and policies of the Communist Party, the State and the Sector.

Article 6. Form of information disclosure

1. Posting information on the website of the State Bank.

2. Organizing press conferences.

3. Disclosing information at the press briefings and conferences organized by the Communist Party’s agencies and Governmental agencies.

4. Giving interview to the press.

5. Disclosing information in annual reports of the State Bank.

6. Disclosing information on other publications of the State Bank and other means of mass media.

Article 7. Disclosure of information on the website of the State Bank

1. The State Bank’s website serves as a medium of frequent disclosure of information on currencies and banking stipulated in Article 4 of this Circular.

2. The specific contents of information for disclosure, the frequency, time-limit and competence to disclose information posted on the State Bank’s website are stipulated in the Annex enclosed with this Circular.

3. The process for updating, publishing and managing information posted on the State Bank’s website shall be carried out in accordance with regulations on organization, management and or operation of the State Bank’s website.

Article 8. Organization of press conferences

1. Every six months or irregularly, the State Bank organizes a press conference to provide information for the press on the State Bank’s guidelines, policies and newly-issued important documents;  remarkable events about currencies and banking. The Governor shall decide the time, method, place, content and the chairperson.

2. The chairperson shall provide interviewers within the scope of information stipulated in Article 4 of this Circular and may refuse to answer the matters that are:

a) Beyond the delegated competence.

b) On inspections, examinations and verifications without official conclusions.

c) In the list of State secrets.

3. The Office of the State Bank (hereinafter referred to as the Office) is the leading unit in preparing material and holding press conferences under direction of the Governor. The units belonging to the State Bank shall provide the Office with relevant information serving for the press conference.

4. Heads of units shall attend the press conference at the request of the Governor.

Article 9. Disclosure of information at press briefings, press conferences organized by the Communist Party’s agencies and Governmental agencies

1. The Governor shall appoint representatives to attend press briefings and press conferences organized by the Communist Party’s agencies and Governmental agencies upon the latter’ invitation.

2. The Office shall act as the leading unit in preparing information to be disclosed in press briefings for submission to the Governor or Deputy Governor responsible for communications and propaganda for disclosure and provision of such information to the press.

3. Information to be disclosed in press conferences shall be prepared by a focal point under direction of the Governor or Deputy Governor delegated by the Governor.

Article 10. Interviews with the press

1. The Governor, Deputy Governor, Heads of units of the State Bank shall have competence to give the press the interviews on currencies and banking issues on behalf of the State Bank.

2. The answerer may refuse to provide answers about the matters stipulated in Clause 2 Article 8 of this Circular and other matters beyond his/her assigned management.

Article 11. Disclosure of information in the State Bank’s annual reports

1. The Governor shall decide contents of information to be disclosed in the State Bank’s annual reports.

2. The Monetary Policy Department shall act as the focal point in coordinating with relevant units in elaboration of the State Bank’s annual reports for submission to the Governor for approval and issuance.

Article 12. Disclosure of information in other publications of the Sate Bank and via other mass media

The Governor, Deputy Governor, Heads of units of the State Bank are entitled to disclose information on currencies and banking on other publications of the State Bank and other means of mass media.

Article 13. Irregular, unscheduled disclosure of information

1. The State Bank shall irregularly disclose information in the following cases:

a) Upon finding it necessary to provide the press with information on important events about the currencies and banking field, which may have remarkable impact on the society that needs to be promptly directed or warned.

b) When the State press administration agency or the Communist Party’s agencies, Governmental agencies request the disclosure of information about the events and issues within the management scope of the State Bank.

c) When there are grounds to conclude that the press has posted incorrect, untruthful information on the currencies and banking under management of the Sate Bank.

2.  Heads of units of the State Bank shall cooperate with the Office in promptly counseling, proposing the Governor or Deputy Governor responsible for orienting information disclosure in the cases stipulated in Clause 1 of this Article.

Article 14. General responsibilities of units, individuals of the State Bank in information disclosure

1. Deputy Governor and Heads of units belonging to the State Bank shall take responsibility before law and the Governor for the disclosed information.

2. The Office are responsible to:

a) Act as a leading unit to support the Governor in managing the disclosure of information on currencies and banking.

b) Receive feedbacks, proposals, criticisms, complaints, accusations relating to currencies and banking field from organizations and individuals that have been posted in the press or delivered to the State Bank, and send them to the Governor or Deputy Governor responsible for communications and propagation for settlement.

c) Act as the leading unit to summarize and report to the Governor or Deputy Governor responsible for communications and propagation about handling the means of mass media posting sensitive, incorrect or false information on the currencies and banking.

d) Every 6 months, lead the organization of press briefings in the banking sector.

3. The units belonging to the State bank shall provide relevant information under provisions of this Circular and the direction of the Governor to serve the disclosure of information on currencies and banking.

4. The State Bank’s branches in provinces and centrally-run cities shall manage the local disclosure of information on currencies and banking. In case any issue arises beyond their competence, Directors of the State Bank’s branches in provinces and centrally-run cities shall promptly report such issues to the Governor (via the Office) for handling.

Chapter 3.

PROVISION OF INFORMATION

Article 15. Subjects provided with information

1. Communist Party’s agencies, Governmental agencies, socio-political organizations as prescribed by law.

2. International financial organizations under the commitment of the Vietnamese Government and the State Bank.

3. Other organizations, individuals as directed by the Governor.

4. The provision of information for the press shall be done in accordance with provisions on information disclosure stipulated in Chapter 2 of this Circular.

Article 16. Scope of provided information

Scope of provided information is the information on currencies and banking under management competence of the State Bank.

Article 17. Competence to provide information

1. The Governor is the person competent to decide the provision of information for the subjects stipulated in Article 15 of this Circular.

2. The Governor shall assign the Deputy Governor to decide the provision of information for the subjects stipulated in Article 15 of this Circular within the scope of management of the Deputy Governor or under the direction of the Governor in specific cases.

3. Heads of units at the State Bank’s head office shall provide information for the subjects stipulated in Article 15 of this Circular under the direction or authorization of the Governor, the Deputy Governor.

4. Directors of the State Bank’s branches in provinces and centrally-run cities shall decide the provision of information within their scope of management upon request from of executive committees, local authorities of provinces and centrally-run cities; the provision of information for State competent agencies and other local organizations, individuals as prescribed by law.

Article 18. Method of information provision

1. Information shall be provided in writing, in the form of electronic files via the internet or other information-transmitting devices.

2. Providing information under the competence of the Governor, the Deputy Governor:

a) The Governor, Deputy Governor shall assign a unit to act as the leading unit in preparing information to be provided.

b) The leading unit shall cooperate with relevant units in compiling and submitting information to be provided for the subjects as stipulated to the Governor, Deputy Governor for approval.

3. Heads of units of the State Bank shall decide the method of information provision within their delegated competence as stipulated in Clauses  3 and 4 Article 17 of this Circular.

Article 19. Responsibilities of units, individuals in information provision

1. Cadres, civil servants, public employees, units of the State Bank being the leading unit assigned to provide information shall take responsibility before law and the Governor for provided information.

2. Organizations, individuals provided with information by the State Bank shall be responsible for managing, using and ensuring the confidentiality of information under provisions of law.

Article 20. Provision of information in the list of State secrets

The provision of information in the list of State secrets shall be done in accordance with provisions of law on protection of State secrets.

Chapter 4.

IMPEMENTATION ORGANIZATION

Article 21. Effect

1. This Circular takes effect on April 1, 2012.

2. This Circular replaces the Decision No. 736/2003/QD-NHNN of July 09, 2003 on promulgating internal rules on the State Bank’s disclosure and provision of banking information of the State Bank and Decision No. 44/2007/QĐ-NHNN of December 17, 2007 on promulgation of the Regulation on the State Bank’s statements and provision off information for the press.

Article 22. Implementation organization 

1. The Office shall act as the focal point in guiding, examining and speeding up the implementation of this Circular and making summaries to report them to the Governor.

2. Heads of units of the State Bank shall be responsible for implementing this Circular and reporting activities of implementation in their first six months reports and annual reports to the Office.