On June 30, 2018, the Government issued Decree No.95/2018/ND-CP stipulating the issuance, registration, depository, listing and trading of the Government debt instruments in the stock market. Accordingly, the State Bank of Vietnam (SBV) is assigned to coordinate with the Ministry of Finance (MoF) to implement a number of relevant tasks.

Specifically, the Government assigns the SBV to coordinate with the MoF in the task of issuing directly the Treasury bills to the SBV. Accordingly, in the case of a temporary shortage of the state budget, the MoF shall take the lead in the coordination with the SBV to develop a plan for issuing the Treasury bills directly to the SBV, then submit it to the Prime Minister for decision. The Plan should include the following basic substances: the purpose of the issuance; the volume, maturity, form of the bills; bill denomination; interest rate, expected time of issuance; method and capital resource for bill payment upon maturity; registration, depository and listing, trading of bills (if any).
Pursuant to the Prime Minister's decision, the MoF shall reach an agreement with the SBV on the volume, interest rate and maturity for each issuance. In case that the issuing date and the maturity date of the Treasury bills are not in the same budget year, the provisions on advances from the SBV as stipulated in Paragraph 1, Article 58 of the State Budget Law and Article 26 of the Law on the State Bank of Vietnam shall apply.The interest rates of the Treasury bills issued directly to the SBV are interest rates agreed between the MoF and the SBV, with reference to the bidding interest rates for the issuance of treasury bills, or the interest rates of the SBV bills, or the trading interest rates of the Government bonds with the same maturity issued at a closest time.
Based on the agreement on the volume, interest rate, maturity and time of issuance, the State Treasury shall sign a contract to sell the bills directly to the SBV, which stipulates the terms and conditions of the issuance, including: volume, maturity, interest rate, date of issuance, price, date of payment, date of maturity, account of receipt of the money for purchasing bills, registration, depository, listing and trading of the bills (if any).
Also in this Decree, the Government tasks the SBV to provide guidance to the credit institutions on debt classification and risk provisions when conducting repurchases of the Government bonds in the stock market. The State Treasury shall make accounting of the money of purchasing the bills paid by the SBV into the State budget, and make payments for the bills upon maturity.
The SBV is responsible for providing the data and documents within its scope of management regarding the foreign exchange reserves, the international balance of payments, the monetary, credit, interest rate policies, and for working on preparations for the national credit ratings and the issuance of international bonds, etc.
 

Source: sbv.gov.vn