- 1Decision No.1277/2002/QD-NHNN of November 18, 2002 adjusting the compulsory reserve rate for foreign currency deposits of credit institutions
- 2Decision No. 235/1999/QD-NHNN1 of July 05, 1999, on the adjustment of the required reserve ratios of credit institutions
- 3Decision No. 560/2001/QD-NHNN of April 27, 2001, on the adjustment of the required reserve ratios of credit institutions
THE STATE BANK | SOCIALIST REPUBLIC OF VIET NAM |
No: 582/2003/QD-NHNN | Hanoi, June 09, 2003 |
DECISION
ADJUSTING COMPULSORY RESERVE FOR 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 Department of Monetary Policies,
DECIDES:
Article 1.- Deposits, which are subject to compulsory reserve as provided for in Article 12 of the Compulsory Reserve Regulation, issued together with Decision No. 581/2003/QD-NHNN of June 9, 2003, are demand deposits and under-24 month deposits.
Article 2.- Rates of compulsory-reserve for Vietnam dong deposits applicable to credit institutions shall be as follows:
1. Rates of compulsory-reserve for Vietnam dong demand deposits and under-12 month deposits shall be as follows:
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b/ For the Bank for Agriculture and Rural Development: 2% of the total balance of deposits subject to compulsory-reserve;
c/ For rural joint-stock commercial banks, the Central People's Credit Fund and cooperative banks: 1% of the total balance of deposits subject to compulsory-reserve.
2. Rates of compulsory-reserve for Vietnam dong deposits of term of between 12 months and under 24 months, applicable to State-run commercial banks, urban joint-stock commercial banks, rural joint-stock commercial banks, cooperative banks, joint-venture banks, foreign banks' branches, the Central People's Credit Fund, financial companies and financial-leasing companies: 1% of the total balance of deposits subject to compulsory reserve.
Article 3.- Rates of compulsory-reserve for foreign currency deposits applicable to credit institutions shall be as follows:
1. Rates of compulsory-reserve for demand and under-12 month foreign currency deposits, applicable to State-run commercial banks, urban joint-stock commercial banks, rural joint-stock commercial banks, cooperative banks, foreign banks' branches, joint-venture banks, financial companies and the Central People's Credit Fund: 4% of the total balance of foreign currency deposits subject to compulsory reserve.
2. Rates of compulsory reserve for foreign currency deposits of a term of between 12 months and under 24 months applicable to State-run commercial banks, urban joint-stock commercial banks, rural joint-stock commercial banks, cooperative banks, foreign banks' branches, joint-venture banks, the Central People's Credit Fund, financial companies and financial-leasing companies: 1% of the total balance of foreign currency deposits subject to compulsory-reserve.
Article 4.- In cases where credit institutions are permitted by the State Bank Governor to mobilize capital in gold and provide loans in gold, for such capital amount mobilized in gold, the compulsory rate shall be 0%. In cases where credit institutions are permitted by the State Bank Governor to mobilize capital in gold but then convert the mobilized gold volume into cash in order to provide loans, the amount of capital converted into cash shall be subject to compulsory reserve as provided for in the regulations on compulsory reserve in cash.
Article 5.- For deposits of credit institutions which have the balance of mobilized deposits subject to compulsory-reserve of under VND 500 million, of grassroots people's credit funds and the Bank for Social Policies, the compulsory-reserve rate shall be 0% of the total balance of deposits.
Article 6.- For credit institutions' compulsory- reserve money deposited at the State Bank within the prescribed compulsory-reserve level, the interest rate of 0%/month shall apply.
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Article 8.- The Accountancy-Finance Department shall have to submit to the State Bank Governor the additional guidance on the system of credit institutions' book-keeping accounts in order to further monitor the balance of mobilized deposits of a term of between 12 months and under 24 months.
Article 9.- The Office's director, the chief inspector of the Bank's Inspectorate, the director of the Department of Monetary Policies, the director of the Accounting-Finance Department, the heads of the units attached to the State Bank, the directors of the State Bank's provincial/municipal branches and the general directors (directors) of credit institutions shall have to implement this Decision.
STATE BANK GOVERNOR
Le Duc Thuy
- 1Decision No. 270/2002/QD-NHNN of April 01st, 2002, on the adjustment of the required reserve ratios for foreign currency deposits of credit institutions.
- 2Decision No. 1472/2001/QD-NHNN of November 23, 2001, on the adjustment of the required reserve ratios for foreign currency deposits of credit institutions
- 3Decision No. 496/2000/QD-NHNN1 of December 01, 2000, on the required reserve ratios of foreign currency deposits of credit institutions
- 4Decision No. 191/1999/QD-NHNN1 of May 31, 1999, on the compulsory reserve rates for credit institutions
- 5Decision No. 52/1999/QD-NHNN1 of February 10, 1999, prescribing the compulsory reserve rates applicable to credit institutions
- 6Decision No. 51/1999/QD-NHNN1 of February 10, 1999, on "the regulation on reserve requirement of credit institutions"
- 1Decision No. 581/2003/QD-NHNN of June 09, 2003, on the issuance of the regulation on reserve requirement of credit institutions
- 2Decree of Government No.86/2002/ND-CP of prescribing the functions, tasks, powers and organizational structures of the ministries and ministerial-level agencies
- 3Decree of Government No.86/2002/ND-CP of prescribing the functions, tasks, powers and organizational structures of the ministries and ministerial-level agencies
- 4Decision No. 51/1999/QD-NHNN1 of February 10, 1999, on "the regulation on reserve requirement of credit institutions"
- 5Law No. 06/1997/QH10 of December 12, 1997 on The State Bank of Vietnam
- 6Law No. 07/1997/QH10 of December 12, 1997 on credit institutions
Decision No. 582/2003/QD-NHNN of June 09, 2003, adjusting compulsory reserve for credit institutions
- Số hiệu: 582/2003/QD-NHNN
- Loại văn bản: Quyết định
- Ngày ban hành: 09/06/2003
- Nơi ban hành: Ngân hàng Nhà nước
- Người ký: Lê Đức Thuý
- Ngày công báo: Đang cập nhật
- Số công báo: Đang cập nhật
- Ngày hiệu lực: 01/08/2003
- Ngày hết hiệu lực: 13/07/2018
- Tình trạng hiệu lực: Hết hiệu lực