THE STATE BANK
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 23/2015/TT-NHNN
Hanoi, December 04, 2015
 
CIRCULAR
AMENDING, SUPPLEMENTING A NUMBER OF ARTICLES OF THE DECREE NO. 581/2003/QD-NHNN DATED JUNE 09, 2003 OF THE STATE BANK GOVERNOR PROMULGATING THE REGULATION ON COMPULSORY RESERVES APPLICABLE TO CREDIT INSTITUTIONS
 
Pursuant to the State Bank Law No.46/2010/QH12 dated June 16, 2010;  
Pursuant to the Law on credit institutions No. 47/2010/QH12 dated June 16, 2010;
Pursuant to the Government's Decree No. 156/2013/ND-CP of November 11, 2013, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;
Pursuant to the Decision No. 48/2013/QD-TTg of August 1, 2013, on compulsory contribution of capital to or purchase of shares from credit institutions under special control;
Pursuant to the Decision No. 255/QD-TTg dated March 01, 2012 of the Prime Minister supplementing some measures to re-structure the credit organizations in the period 2011 - 2015; 
At the proposal of the director of the Monetary Policy Department,
The State Bank Governor promulgates the Circular amending, supplementing a number of articles of the Decree No. 581/2003/QD-NHNN dated June 09, 2003 of the State Bank Governor promulgating the regulation on compulsory reserves applicable to credit institutions.
Article 1. To amend, supplement a number of articles of the regulation on compulsory reserves applicable to credit institutions promulgated together with the Decision No. 581/2003/QD-NHNN dated June 09, 2003 of the State Bank Governor (hereinafter referred to as the regulation on compulsory reserves) as follows:
1. To amend Article 3 as follows:
“Article 3. Subject to the application of the Compulsory Reserve Regulation are credit institutions, foreign banks’ branches established and operating under the Law on Credit Institutions (hereinafter referred to as credit institutions”.
2. To amend Article 6 as follows:
“Article 6. The payment of interests on compulsory reserves, excessive compulsory-reserve of each type of credit institution and each type of deposit in each period shall be made according to the State Bank’s regulations.”.
3. To amend Article 8 as follows: