DECISION

ON THE ADJUSTMENT OF VIETNAM DONG DEPOSIT MOBILIZATION RATIO FOR BRANCHES OF EU COUNTRIES' BANKS, WHICH ARE OPERATING IN VIETNAM

THE GOVERNOR OF THE STATE BANK

- Pursuant to the Law on the State Bank of Vietnam No. 01/2997/QH10 dated 12 December, 1997; the Law on the amendment, supplement of several Articles of the Law on the State Bank of Vietnam No. 10/2003/QH11 dated 17 June, 2003;
- Pursuant to the Law on Credit Institutions No. 02/1997/QH10 dated 12 December, 1997;
- Pursuant to the Decree No. 86/2002/ND-CP dated 05 November, 2002 of the Government providing for the function, assignment, authority and organizational structure of the ministries and ministerial level agencies;
- Pursuant to the Decree No. 13/1999/ND-CP dated 17 March, 1999 of the Government on the organization, operation of foreign credit Institutions, representative offices of foreign credit institutions in Vietnam;
- In compliance with the guiding opinion of the Prime Minister in the Official Dispatch No. 98/CP-QHQT dated 31 October, 2003 and Official Dispatch No. 19/CP-QHQT dated 29 March, 2004;
- Upon the proposal of the Director of the Banks and Non-bank Credit Institutions Department,

DECIDES:

Article 1. Branches of European Union (EU) countries' banks, which are operating in Vietnam, shall be entitled to receive deposits in Vietnam Dong from Vietnamese legal entities, which and Vietnamese individuals, who do not have credit relation with them, up to the maximum of 250% of their appropriated capital.

Article 2. This Decision shall be effective from 01 April, 2004. Previous provisions, which are in contrary with the provisions of this Decision, shall be repealed.

Article 3. The Director of Administrative Department, the Director of Banks and Non-Bank Credit Institutions Department, Heads of units of the State Bank, General Managers (Managers) of branches of EU countries' banks, which are operating in Vietnam shall be responsible for the implementation of this Decision.

...

...

...

FOR THE GOVERNOR OF THE STATE BANK
DEPUTY GOVERNOR




Tran Minh Tuan