More legal foundation created for repo market
The Master Agreement for Repo Transactions was introduced at the annual meeting of the Vietnam Bond Market Association (VBMA) held in Hanoi on March 12, with 17 members of the association signing an MoU on the use of the master agreement.
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| At the annual meeting of the Vietnam Bond Market Association (Photo: VNA) |
VBMA Chairwoman Nguyen Thi Kim Oanh said the introduction of the master agreement provides another firm legal foundation for the repo market, helping it gradually reach international standards and practices, thus increasing liquidity of the bond market and diversifying players in the market.
According to Oanh, the VBMA will continue to support the completion of the legal framework for the bond market and develop the market through introducing standardized practices of developed markets.
The association also plans to organize training courses on professional knowledge and transaction skills for members while expanding international cooperation to attract more foreign investors to Vietnam’s bond market.
On the occasion, Pham Thanh Tam from the Department of Banking and Financial Institutions under the Ministry of Finance informed that the ministry will continue working to complete the financial framework for corporate bonds issuance in 2019.
The ministry will also review and refine mechanisms and policies to attract professional investors, long-term investors and foreign investors to the bond market.
