Decision No. 1289/2001/QD-NHNN Amending Decision No. 893/2001/QD-NHNN dated July 17, 2001, of the Governor of the State Bank on the implementation of foreign currency swap transactions between the State Bank and banks to meet short-term capital needs in Vietnamese dong for the banks.

Pursuant to …;

Regarding the amendment of Decision No. 893/2001/QĐ-NHNN dated July 17, 2001 of the Governor of the State Bank on the implementation of foreign exchange swap operations between the State Bank and commercial banks to meet short-term capital needs in Vietnamese dong for the banks

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GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam No. 01/1997/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. Amend Point 2.2 of Section 2, Article 10 of Decision No. 893/2001/QĐ-NHNN dated July 17, 2001 concerning the responsibilities of the Monetary Policy Department as follows:

"2.2. Within one working day from the date of receipt of the request to implement the foreign exchange swap operation from the banks, the head of the Monetary Policy Department shall examine and decide on the foreign exchange swap for transactions up to 20 million US dollars and submit to the Governor for examination and decision on transactions exceeding 20 million US dollars. In case the State Bank agrees to implement the foreign exchange swap operation, the Monetary Policy Department shall notify the Trading Department to carry out the transaction. In case the State Bank refuses to implement the foreign exchange swap operation, the Monetary Policy Department shall issue a letter to the bank explaining the reasons for refusal."

Article 2. This Decision shall take effect from the date of signing.

Article 3. The Heads of the Office, the Heads of the Monetary Policy Department, the Foreign Exchange Management Department, the Credit Department, the Director of the Trading Department of the State Bank, the Head of the Accounting and Finance Department, the Heads of relevant units at the Central State Bank, and the General Directors (Directors) of participating commercial banks in the foreign exchange swap operations with the State Bank are responsible for implementing this Decision.