Ha Noi (VNA) - The HSBC and the Bank of Investment and Development of Viet Nam on February 14 signed a framework contract to produce standards for derivatives transactions between the two sides.

Under the International Swaps and Derivatives Association (ISDA) framework contract, the Hong Kong Shanghai Bank Corporation (HSBC) and the Bank of Investment and Development of Viet Nam (BIDV) had conducted two cross exchange derivatives transactions in USD and VND worth 60 million USD.

The contract was part of BIDV’s strategy to improve the efficiency of capital usage.

“Through cooperation with BIDV, HSBC will introduce derivatives transactions to State-owned companies and help BIDV with initiatives on products and risk insurance,” said Thomas Tobin, HSBC General Director in Viet Nam.-Enditem