DECISION

ON THE ADJUSTMENT OF THE REQUIRED RESERVE RATIOS FOR FOREIGN CURRENCY DEPOSITS OF CREDIT INSTITUTIONS

THE GOVERNOR OF THE STATE BANK

Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 and the Law on the Credit Institutions No. 02/1997/QH10 dated 12 December, 1997;
Pursuant to the Decree No. 15 CP dated 2 March, 1993 of the Government on the assignment, authority and responsibility for the State management of the ministries, ministry-level agencies;

Upon the proposal of the Director of the Monetary Policy Department,

DECIDES

Article 1. To adjust the required reserve ratios for demand foreign currency deposits and foreign currency deposits with terms of less than 12 months of the State-owned commercial banks, urban joint-stock commercial banks, rural joint-stocks commercial banks, cooperative banks, foreign bank branches, Joint-venture banks, Finance Companies, Central People Credit Fund and Regional People Credit Fund: 8% of the total balance of foreign currency deposits.

Article 2. This Decision shall apply to the calculation of the reserve requirement for the maintenance period of April, 2002 and replace the Decision No. 1472/2001/QD-NHNN dated 23 November, 2001 of the Governor of the State Bank.

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THE GOVERNOR OF THE STATE BANK




Le Duc Thuy