| STATE BANK OF VIETNAM ------------ No. 750/QD-NHNN | SOCIALIST REPUBLIC OF VIETNAM Independence- Freedom - Happiness -------------------- Hanoi, 09 April 2011 |
DECISION
ON THE ADJUSTMENT OF REQUIRED RESERVE RATIO IN FOREIGN CURRENCY OF CREDIT INSTITUTIONS
THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam issued in 2010;
Pursuant to the Law on the Credit Institutions issued in 2010;
Pursuant to the Decree No. 96/2008/ND-CP dated 26 August 2008 of the Government providing for the functions, duties, authorities and organizational structure of the State Bank of Vietnam;
Upon the proposal of the Director of the Monetary Policy Department,
DECIDES:
Article 1. Required reserve ratios applicable to foreign currency deposit of credit institutions shall be as follows:
1. Required reserve ratios applicable to demand foreign currency deposit and foreign currency deposit with the term of less than 12 months shall be as follows:
a. For State owned commercial banks (Bank for Agriculture and Rural Development of Vietnam excluded), joint stock commercial banks, 100% foreign owned banks, joint venture banks, foreign banks’ branches, the ratio shall be 6% over the total deposit balances subject to required reserve.
b. In respect of the Bank for Agriculture and Rural Development of Vietnam, Central People’s Credit Fund, cooperative banks, the ratio shall be 5% over the total deposit balances subject to required reserve.
