WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
MoF lists 17 market makers for debt market
Ngoc Mai 12:58, 2021/01/06
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.

RELATED NEWS
TAG: Vietnam debt market market makers government bonds government debt instrument BIDV Vietcombank HCM securities banks
Other news
17:00, 2024/07/16
Hanoi to push for smart tax agency
The Hanoi Department of Taxation will continue to review and standardize personal tax identification data, and to develop solutions for digitizing and electronic processing of various stages to support taxpayers.
22:07, 2024/07/10
Taxes revenue from online shopping in Vietnam nearly triple in H1
Vietnam has 3.1 million business households and individuals, many of whom sell goods and services online without registering, declaring, or paying taxes.
15:20, 2024/07/10
Banks inject over US$20 billion into economy in June, surpassing five-month total
The surge in credit following a period of stagnation is partly attributed to increased borrowing and corporate bond issuance in the latter half of the year.
15:26, 2024/07/08
Corporate bond issuance almost triples in H1
Institutions purchasing corporate bonds in the primary market accounted for 94.8% of the issuance volume, with credit institutions (53.5%) and securities companies (21.9%) being the main buyers.
14:33, 2024/07/04
Vietnam climbs 11 places in budget transparency ranking
These results highlight Vietnam's commitment to improving budget transparency through accessible documents and timely and accurate budget information disclosure.
08:37, 2024/06/30
Finance ministry cut fees for fifth time
The policy is expected to result in a VND700 billion ($27.5 million) decline in state budget revenue.