DECISION

ON THE ADJUSTMENT OF THE REQUIRED RESERVE RATIOS 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 of credit institutions as follows:

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2. For demand VND deposits and VND deposits with terms of less than 12 months of the State-owned commercial banks (not including the Agricultural and Rural Development Bank of Vietnam), urban joint-stock commercial banks, foreign bank branches, Joint-venture banks, Finance Companies: 3% of the total balance of VND deposits.

3. For demand VND deposits and VND deposits with terms of less than 12 months of the Agricultural and Rural Development Bank of Vietnam: 2% of the total balance of VND deposits.

Article 2.

This Decision shall apply to the calculation of the reserve requirement for the maintenance period of May, 2001 and replace paragraph 1, Article 1 of the Decision No. 235/1999/QD-NHNN1 dated 5 July, 1999, the Decision No. 316/1999/QD-NHNN1 dated 10 September, 1999, the Decision No. 496/2000/QD-NHNN1 dated 1 December, 2000 of the Governor of the State Bank.

Article 3.

The Head 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, General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.

FOR THE GOVERNOR OF THE STATE BANK
DEPUTY GOVERNOR




Duong Thu Huong

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