The State Bank of Vietnam met with a J.P. Morgan delegation led by Daniel Zelikow to review cooperation and discuss further technical engagement, with a focus on topics linked to foreign exchange reserve management. The central bank highlighted ongoing technical exchanges between J.P. Morgan and its Foreign Exchange Management Department on reserve management issues and described J.P. Morgan as an important partner in this area, particularly for bond transactions. It cited competitive bond pricing aligned with its investment needs and noted that J.P. Morgan currently trades most bond types permitted under State Bank of Vietnam regulations. Recent joint workshops covered securities lending and custody, and the discussion also touched on repo products, investment trust models used by other central banks, and peer practices for central bank gold investment and management, alongside a global outlook characterised by trade tensions and financial market volatility. The State Bank of Vietnam indicated it would like central bank-focused workshops facilitated by J.P. Morgan to become an annual activity and that cooperation would continue and expand.
State Bank of Vietnam 2025-07-16
State Bank of Vietnam expands technical cooperation with J.P. Morgan on foreign exchange reserves and bond trading
The State Bank of Vietnam and J.P. Morgan discussed enhancing technical cooperation, focusing on foreign exchange reserve management and bond transactions. They highlighted ongoing exchanges and workshops on securities lending, custody, and central bank gold investment. The State Bank expressed interest in making these workshops an annual event to further expand cooperation.