Circular No. 30/2012/TT-NHNN dated November 07, 2012 of the State Bank of Vietnam stipulating on collection, remittance of charge for the custody of valuable papers at the State Bank

CIRCULAR

STIPULATING ON COLLECTION, REMITTANCE OF CHARGE FOR THE CUSTODY OF VALUABLE PAPERS AT THE STATE BANK

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

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

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

Pursuant to the Government’s Decree No. 07/2006/ND-CP, of January 10, 2006 on the finance regime of the State Bank of Vietnam;

At the proposal of Director of the Accounting and Finance Department;

The Governor of the State bank of Vietnam promulgates Circular stipulating on collection, remittance of the charge for custody of valuable papers at the State bank of Vietnam,

Article 1. Scope of regulation

This Circular stipulates on charge rate, method of calculation and collection, remittance for custody of valuable papers at the State bank of Vietnam (hereinafter referred to as the State bank) in accordance toregulationon custody of valuable papers the State bank of Vietnam.

Article 2. Subjects of application

Credit institutions, branches of foreign banks, other organizations possessing valuable papers deposited at the State bank as prescribed by law (hereinafter referred to as custody members).

Article 3. Principle of charge collection, remittance

1.The custody members are responsible for transfer and remittance of charges on schedule.For custody members having deposit accounts for payment at the State bank, the State bank may automatically deduct debt from deposit accounts for payment of custody members at the State bank in order to collect charge.

2.Currency used to pay for custody of valuable papers is Vietnam dong.For custody of valuable papers in foreign currency, the State bank shall calculate and collect charge on their converted value in according to average exchange rate on inter-bank foreign currency market announced by the State bank on day of collecting charge.

Article 4. Charges and collection rate

1.Charge for custody of valuable papers is collected on total value of valuable papers calculated by nominal value of custody members being deposited directly at the State bank and deposited at accounts of the State bank opening at Vietnam Stock Depository Center (excluding valuable papers having bought and been owning by the State bank).

2.The charge rate for custody of valuable papers is 0.2 dong/ per 100,000 dong in nominal value of valuable papers/ per month.

Article 5. Method of charge calculation

1.The payable charge for custody of valuable papers in month of custody member:

In which:

-Month is rounded 30 days (from beginning month to the end day of month);

-L:Being charges of custody or valuable papers which the custody member must pay in month;

- i:Being days in month there are valuable papers being deposited;

-X_i^:Being total nominal value of valuable papers deposited by custody member calculated in time point of closing book at the end of each day i;

-X_i^:Being total nominal value of valuable papers deposited by custody member of all days in a month.

2.Based on figures monitoring valuable papers deposited by custody member, the State bank shall make a list of charges for custody of valuable papers (Annex enclosed with this Circular) in order to define exactly charges of custody of valuable papers which must be collected in a month.

Article 6. Term for collection of charges

Charges for custody of valuable paper shall be calculated and collected monthly, before the 10th day of the next month.

Article 7. Effectiveness

This Circular takes effect on January 01, 2013 and replaces Decision No. 58/2006/QD-NHNN, of December 15, 2006 of the Governor of the State bank promulgating fee level for the custody of valuable papers.

Article 8. Organization for implementation

The Chief of office, Director of Finance-Accounting Department, directors of transaction departments, director of Informatics-Technological Department, heads of relevant units of the State bank, Directors of provincial branches of the State bank, presidents of Board of Directors, presidents of Members Council and directors general (directors) of credit institutions, branches of foreign banks, other organizations performing custody of valuable papers at the State bank shall implement this Circular.