On November 29, 2023, the Government issued Decree 83/2023/ND-CP amending and supplementing a number of articles of Decree 95/2018/ND-CP on issuance, registration, depository, and listing and trading government debt instruments on the stock market.
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Accordingly, Decree 83/2023/ND-CP amends and supplements clauses in Decree 95/2018/ND-CP regulating the private issuance of Government bonds as follows:
- Private placement is a method of directly selling Government bonds to each buyer or choosing a commercial bank or foreign bank branch to act as a distribution and payment agent for Government bonds (distribution agent). distributor) to the buyer.
- The State Treasury develops a plan to issue Government bonds individually and reports to the Ministry of Finance for approval. The private placement plan includes the following basic contents:
+ Bond buyers;
+ Expected volume of issuance;
+ Bond term;
+ Expected interest rate;
+ Expected release time;
+ Expected form of private issuance (State Treasury issues directly or selects distribution agents).
- The Ministry of Finance approves the plan for private issuance of Government bonds according to the contents specified above.
- Based on the private placement plan approved by the Ministry of Finance, the State Treasury organizes the implementation. In case of choosing a distribution agent, the selection and signing of a contract with the distribution agent shall comply with regulations in sections 2 and 3.
Thus, in the near future, commercial banks and foreign bank branches will be allowed to act as distribution and payment agents for Government bonds.
Photo 1. From January 15, 2024, the bank will be allowed to act as a distribution agent for Government bonds_ Hotline: 097 211 8764
Decree 83/2023/ND-CP stipulates conditions for becoming a distribution agent including:
- Are commercial banks and foreign bank branches legally established and operating in Vietnam, with the function of providing bond issuance agency services according to the provisions of the Law on Credit Institutions 2010 and guidance from the State Bank of Vietnam;
- Have an operational network to meet the distribution and payment of Government bonds;
- Have a plan to organize bond distribution and payment that meets the requirements of the issuer for each issuance.
Thus, to become a distributor, the above conditions must be met.
Decree 83/2023/ND-CP takes effect from November 29, 2023
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