THE STATE BANK
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SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom - Happiness
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No: 581/2003/QD-NHNN
Hanoi, June 09, 2003
 DECISION
PROMULGATING THE REGULATION ON COMPULSORY RESERVES APPLICABLE TO CREDIT INSTITUTIONS
THE STATE BANK GOVERNOR
Pursuant to State Bank Law No. 01/1997/QH10 and Credit Institution Law No. 02/1997/QH10 of December 12, 1997;
Pursuant to the Government's Decree No. 86/2002/ND-CP of November 5, 2002 defining the functions, tasks, powers and organizational structures of the ministries and ministerial-level agencies;
At the proposal of the director of the Monetary Policy Department,
DECIDES:
Article 1.- To promulgate together with this Decision the Regulation on compulsory reserves applicable to credit institutions.
Article 2.- This Decision takes effect as from the period of compulsory reserve maintenance of August 2003.
Article 3.- This Decision replaces Decision No. 51/1999/QD-NHNN1 of February 10, 1999 promulgating the Regulation on compulsory reserves for credit institutions, Decision No. 191/1999/QD-NHNN1 of May 31, 1999 on compulsory reserve rates applicable to credit institutions, Decision No. 303/2000/QD-NHNN1 of September 11, 2000 and Decision No. 700/2002/QD-NHNN of July 4, 2002 of the State Bank Governor on depositing the compulsory reserves in Vietnam dong by credit institutions which participate in the inter-bank electronic payment.
Article 4.- The director of the Office, the chief inspector, the director of the Department of Monetary Policies, the heads of the units under the State Bank, the directors of the State Bank's branches in the provinces and centrally-run cities, the general directors (directors) of credit institutions shall have to implement this Decision.
 
STATE BANK GOVERNOR




Le Duc Thuy
 
REGULATION
ON COMPULSORY RESERVES APPLICABLE TO CREDIT INSTITUTIONS
(Promulgated together with the State Bank Governor's Decision No. 581/QD-NHNN of June 9, 2003)
Chapter I
GENERAL PROVISIONS
Article 1.- Compulsory reserves are money amounts which credit institutions operating in Vietnam must maintain on their payment deposit accounts at the State Bank.
Article 2.- In this Regulation, the following terms are construed as follows: