Agribank has to open a deposit
account and put valuable notes at Operations Centre of the State bank.
Discount interest rate: stipulated
by the state bank on a case by case basis.
Forms of discount:
Discount for all the time remained
of valuable notes (not exceeding 91 days)
Time discount (the time remained
must be priced higher than transaction time).
Types of valuable notes available:
Treasury bonds, government bonds …
By 25th of the last month of the
quarter, Operations Centre makes a request of offering discount limit for the
next quarter from the State bank.
Operations Centre of the State bank
receives the request and then makes a notice of approval or disapproval.
Agribank shall commit to repurchase the amount
noticed by the state bank when request of discount limit is accepted.
On the discounting date, Operations
Centre of the State bank shall make a payment for Agribank, transfer papers
from deposit account of Agribank into deposit account of the State Bank of
Vietnam (for discounting all of the remaining term of papers) or transfer into pledged
account (for time discount).
Discount method: directly provide
Operations Centre of the State bank with “Request of valuable notes discount”.
Transactions are completed through
Reuters Dealing System, fax…
After transactions are approved, data
will be entered into IPCAS by FX Managing Department
Stop loss limit in forex dealing of
Agribank’s Operations Centre is decided by Chairman of Board of Directors.
Transaction principle: safe,
effective, subject to FX dealing limit and ensure liquidity of the Agribank and
maintain foreign currency balance adapted to the Sate bank’s rule for a certain
Treasury Department of Agribank’s
Operations Centre is the department in charge of rediscounting with the State
Bank of Vietnam.