DECISION

ON THE REQUIRED RESERVE DEPOSITS IN VND FOR CREDIT INSTITUTIONS PARTICIPATING IN THE INTER-BANK ELECTRONIC PAYMENT

THE GOVERNOR OF THE STATE BANK

Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated 12 December, 1997 and the Law on Credit institutions No. 02/1997/QH10 dated 12 December, 1997;
Pursuant to the Decree No. 15/CP dated 02 March, 1993 of the Government on the assignment, authority and responsibility for the State management of the ministries and ministerial-level agencies.
Upon the proposal of the Director of the Monetary Policy Department,

DECIDES

Article 1. The required reserve deposits in VND of credit institutions being members participating in the inter-bank electronic payment shall be deposited in the following accounts:

- The account demand deposit of credit institutions at the Banking Operation Department or the State Bank branches in provinces, cities where their head office is located.

- The account demand deposit of credit institutions at the Banking Operation Department for participating in the inter-bank electronic payment.

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1. Credit institutions shall be responsible:

to report to the Banking Operation Department or the State Bank branches in provinces, cities where their head office is located on average balance of deposit in period of determination of required reserve as a basis for the calculation of required reserve of period of reserve maintenance on 03rd monthly.

2. The State Bank branches in provinces, cities where credit institutions head office is located shall be responsible:

a. to report the average balance of deposit of credit institutions in the State Bank branches in provinces, cities in period of reserve maintenance to the Banking Operation Department on 04th monthly.

b. to carry out the examination, calculation of and report the required reserve in period of reserve maintenance to credit institutions and the Banking Operation Department, on the basis of the report on average balance of deposit in period of determination of required reserve sent by credit institutions under the management of the State Bank branches in provinces, cities, on 05th monthly.

3. The Banking Operation Department shall be responsible:

a. to process the excessive or deficient amounts of required reserve in period of reserve maintenance on the basis of consolidating the average balance of deposit in the two accounts of credit institutions:

- The account demand deposit of credit institutions at the Banking Operation Department or the State Bank branches in provinces, cities where their head office is located.

- The account demand deposit of credit institutions at the Banking Operation Department for participating in the inter-bank electronic payment.

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4. The Banking Information Technology Department shall be responsible:

To set up, install and give the guidance on the operation program to units of the State Bank and the State Bank branches in provinces, cities where the head office of credit institutions participating in the inter-bank electronic payment is located to perform the communication, consolidation, report and calculation of required reserve of credit institutions.

Article 3. The report shall be sent in writing, at the same time, transmitted through the computer network.

Article 4. Other provisions on required reserve shall be implemented in accordance with current provisions of the Governor of the State Bank.

Article 5. This Decision shall be applied from the period of reserve maintenance of July, 2002.

Article 6. The Director of the Administration Department of the State Bank, Heads of units of the State Bank of Vietnam, General Managers of State Bank branches in provinces, cities under the central Governments management, Chairman of the Directors Board and General Directors (Directors) of credit institutions participating in the inter-bank electronic payment 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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