Decision No. 20/1998/QĐ-NHNN1 amends the provisions on the status of the Vietnamese dong for foreign bank branches operating in Vietnam, allowing the maintenance of the status of the Vietnamese dong within 15% of the capital provided by the home bank to the branch. The Decision takes effect fifteen days from the date of signing.
Đối tượng áp dụng
Foreign bank branches operating in Vietnam
Các điểm cốt lõi
- Foreign Bank Branches → are allowed to maintain the status of the Vietnamese dong within 15% of the capital provided by the home bank to the branch.
🌐 Tác động xã hội từ văn bản này
- Positive impact: Helps foreign bank branches operate more flexibly in using the Vietnamese dong, supporting business and transactions.
- Negative impact: May cause inequality between domestic and international banks in terms of monetary management.
❓ Câu hỏi thường gặp
Foreign bank branches are allowed to maintain the status of the Vietnamese dong at what percentage?
Foreign bank branches are permitted to maintain the status of the Vietnamese dong within 15% of the capital provided by the home bank to the branch.
When does this Decision take effect?
This Decision takes effect fifteen days from the date of signing.
What conditions must foreign banks comply with to maintain the status of the Vietnamese dong?
There are no specific conditions required, only that they may maintain within 15% of the capital provided by the home bank to the branch.
Who is responsible for implementing this Decision?
The Director of the Governor's Office, the Head of the Economic Research Department, the Inspector General, the Director of the Trading Department, the Heads of Departments and Bureaus related to the State Bank of Vietnam, the Directors of the State Bank of Vietnam branches in provinces and cities, and the General Managers (Directors) of foreign bank branches operating in Vietnam are responsible for implementing this Decision.
Has this Decision been amended or supplemented?
Any amendments or supplements to this Decision shall be decided by the Governor of the State Bank of Vietnam.
Toàn văn
Pursuant to …;
VREGARDING adjusting the provisions on the status of the Vietnamese dong for branches
of foreign banks operating in Vietnam Foreign banks operating in Vietnam
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Ordinance on the State Bank promulgated by Decree No. 37/LCT-HĐNN8 dated May 24, 1990 of the Chairman of the State Council of the Socialist Republic of Vietnam;
Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities for state management of ministries and ministerial-level agencies;
Pursuant to Decree No. 189/HĐBT dated June 15, 1991 of the Chairman of the Council of Ministers issuing the Regulations on Joint Venture Banks and Branches of Foreign Banks Operating in Vietnam;
At the request of the Director of the Economic Research Department and related Departments;
DECISION:
Article 1. Amend Article 2 of the Provisions on the Status of the Vietnamese Dong for Branches of Foreign Banks Operating in Vietnam issued pursuant to Regulation No. 380/1997-QĐ-NHNN1 dated November 11, 1997 of the Governor of the State Bank as follows:
"Branches of foreign banks operating in Vietnam are permitted to maintain the status of the Vietnamese dong within a range of 15% (fifteen percent) of the capital provided by the parent bank to the branch of the foreign bank and the reserve fund."
Article 2. This Decision shall take effect fifteen days from the date of signature. Any amendments or supplements to this Decision shall be decided by the Governor of the State Bank.
Article 3. The Chief of the Governor's Office, Directors of the Economic Research Department, Chief Inspector, Director of the Trading Department, Heads of relevant Departments and Bureaus at the Central State Bank, Directors of provincial and municipal branches of the State Bank, General Managers (Directors) of branches of foreign banks operating in Vietnam are responsible for implementing this Decision./.
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