As market markers, entities have the right to participate in the issuance and repurchase of government bonds and notes via bidding.
The Ministry of Finance (MoF) has released a list of 17 commercial banks and securities firms subject to join the Government bonds market this year, an increase of four new entities compared to the 2020 list.
Vietnam's government bond segment accounts for 83.8% of the country's total bond stock. |
Under the Decision No.2290/QD-BTC, set to become effect from January 1, 2021 – December 31, 2021, those in the list will act as market makers of Government debt instrument.
Market makers are required to submit reports to the MoF for evaluation between November 1 and 10, so that the latter will evaluate the condition to maintain market maker status. Unqualified market markers will receive notice with reasons on why they are excluded from the list.
As market markers, entities have the right to participate in the issuance and repurchase of Government bonds and notes via bidding, as well as playing as the main guarantee organization for the issuance of government bonds.
Market makers will also participate in discussion for drafting new policies for the bond market.
This year’s list includes four securities firms of BIDV Securities Company, Vietcombank Securities Company, Ho Chi Minh Securities Corporation, Saigon – Hanoi Securities Company, and 13 banks with major names, such as BIDV, Vietinbank, Agribank and Military Bank.
Vietnam’s Government bond segment grew 9.1% quarter-on-quarter at the end of September 2020 to reach US$54.7 billion - accounting for 83.8% of the country’s total bond stock, a report from the ADB noted.
This directly contributed to a quarterly growth of 11.6% of the local currency bond market at the end of last September – the fastest quarterly growth rate in emerging East Asia – to reach $65.3 billion.
Other News
- Vietnam's non-cash payments reach US$9.8 trillion, 23 times GDP
- PM urges Central bank to ensure positive growth in 2024
- Vietnamese Gov't to continue VAT cut for second half of 2024
- 3,400 taels of gold purchased at the first-in-11-year auction
- HoSE to launch KRX-developed transaction system in early May
- Central bank moves gold auction to tomorrow
- Vietnam’s c.bank sells USD to stabilize exchange rate
- Central bank to auction gold to calm domestic market
- Vietnam's Central Bank ready to steady foreign exchange market
- Finance ministry clears bottlenecks to pave way for stock market upgrade
Trending
-
US taking move to recognize Vietnam as market economy a welcome sign: MoFA
-
Vietnam news in brief - May 10
-
The Battle of Dien Bien Phu – boundless inspiration for young creative artists
-
Bas-reliefs on Hue's nine dynastic urns listed as UNESCO heritage
-
Hanoi's oldest book street preserving the city's reading culture
-
Private investors: Key to build more parking lots in Hanoi
-
PM urges Cambodian cooperation to promote sustainable use of Mekong River
-
Vietnam seeks more information on Cambodia’s Funan Techo canal project
-
Hanoi: The 'epic victory' of Dien Bien Phu as seen in photos