DECISION

ON THE REQUIRED RESERVE RATIOS OF 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, ministerial-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: 12% of the total balance of deposits;

Article 2. This Decision shall replace the Decision No. 441/2000/QD-NHNN1 dated 10 October, 2000 of the Governor of the State Bank and apply to the calculation of the reserve requirement of foreign currency deposits for the maintenance period of December, 2000.

Article 3. The Director of the Administration Department, the Chief Inspector of the State Bank, Heads of units of the State Bank of Vietnam, General Managers of State Bank branches in provinces, cities, Directors General (Directors) of credit institutions shall be responsible for the implementation of this Decision.

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FOR THE GOVERNOR OF THE STATE BANK
DEPUTY GOVERNOR




Duong Thu Huong