Decision No. 1277/2002/QĐ-NHNN adjusts the required reserve ratio for foreign currency deposits of credit institutions to 5% of the total deposit balance, replacing the previous decision. This applies from the December 2002 reserve maintenance period.
Đối tượng áp dụng
State Commercial Banks, Urban Joint Stock Commercial Banks, Rural Joint Stock Commercial Banks, Cooperative Banks, Branches of Foreign Banks, Joint Venture Banks, Finance Companies, Central People's Credit Funds.
Các điểm cốt lõi
- Credit institutions → must maintain a required reserve of 5% on the total balance of foreign currency deposits without term and with terms under 12 months.
🌐 Tác động xã hội từ văn bản này
- Positive impact: Reduces the burden of required reserve costs for credit institutions, helping to increase operational flexibility and efficiency.
- Negative impact: May affect the capital source of the State Bank, reducing its ability to control the money market.
❓ Câu hỏi thường gặp
What is the new required reserve ratio?
The required reserve ratio for foreign currency deposits without term and with terms under 12 months of credit institutions is 5% of the total deposit balance.
When does this decision take effect?
This decision takes effect from the December 2002 reserve maintenance period.
Which types of credit institutions are affected?
Affected are State Commercial Banks, Urban Joint Stock Commercial Banks, Rural Joint Stock Commercial Banks, Cooperative Banks, Branches of Foreign Banks, Joint Venture Banks, Finance Companies, Central People's Credit Funds.
Which decision does this decision replace?
Decision No. 1277/2002/QĐ-NHNN replaces Decision No. 270/2002/QĐ-NHNN dated April 1, 2002, of the Governor of the State Bank.
For how long is the required reserve ratio applicable to foreign currency deposits with term?
The required reserve ratio applies to foreign currency deposits without term and with terms under 12 months.
Toàn văn
Pursuant to …;
Regarding the adjustment of the reserve requirement ratio for foreign currency deposits
of credit institutions
____________________
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 and the Law on Credit Institutions No. 02/1997/QH10 dated December 12, 1997;
Pursuant to the Government Decree No. 15/CP dated March 2, 1993 on the tasks, powers, and responsibilities of state management of ministries and ministerial-level agencies;
Pursuant to the proposal of the Director of the Monetary Policy Department,
Pursuant to …;
Article 1. The reserve requirement ratio for demand foreign currency deposits and time foreign currency deposits with terms under twelve months of State commercial banks, urban joint-stock commercial banks, rural joint-stock commercial banks, cooperative banks, branches of foreign banks, joint venture banks, finance companies, and central people's credit funds is hereby adjusted to five percent of the total amount of foreign currency deposits subject to the reserve requirement.
Article 2. This Decision shall be applied to calculate the required reserves from the December 2002 reserve maintenance period and shall replace Decision No. 270/2002/QĐ-NHNN dated April 1, 2002 of the Governor of the State Bank of Vietnam.
Article 3. The Heads of the Office, the Inspector General of the State Bank, the Heads of units under the State Bank, the Governors of the State Bank Branches in provinces and cities, and the General Directors (Directors) of credit institutions are responsible for implementing this Decision.
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