Decision No. 261/QD-NH1 stipulates that the reserve ratio for credit institutions is 10%, applicable from October 1, 1995. This ratio is divided into two parts: 70% must be deposited with the State Bank and 30% is in cash or payment drafts.
Đối tượng áp dụng
Credit institution
Các điểm cốt lõi
- Credit institution → is subject to a mandatory reserve ratio of 10%
- Credit institution → must deposit at least 70% of the total mandatory reserves in a demand deposit account with the State Bank
- Credit institution → may hold up to 30% of the total mandatory reserves in cash or payment drafts
🌐 Tác động xã hội từ văn bản này
- Enterprises and credit institutions will have to comply with the new mandatory reserve ratio, which may affect their ability to mobilize funds and business operations.
- The State Bank will have additional resources to manage systemic risks.
❓ Câu hỏi thường gặp
What is the mandatory reserve ratio?
The mandatory reserve ratio for credit institutions is 10%.
What percentage of the mandatory reserves must credit institutions deposit with the State Bank?
Credit institutions must deposit at least 70% of the total mandatory reserves in a demand deposit account with the State Bank.
What percentage of the mandatory reserves can credit institutions hold in cash or payment drafts?
Credit institutions may hold up to 30% of the total mandatory reserves in cash or payment drafts.
When does this decision take effect?
This decision takes effect from October 1, 1995.
How did previous documents regulate mandatory reserves?
Previous documents regulating mandatory reserves contrary to this decision shall cease to be effective from October 1, 1995.
Toàn văn
Pursuant to …;
REGARDING THE RATIO AND STRUCTURE OF COMPULSORY RESERVES FOR CREDIT ORGANIZATIONS
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Ordinance on the State Bank of Vietnam, the Ordinance on Banks, Credit Cooperatives, and Financial Companies issued pursuant to Decree No. 37/LCT-HĐNN8 and Decree No. 38/LCT-HĐNN8 dated May 24, 1990 of the Chairman of the Council of Ministers of the Socialist Republic of Vietnam;
Pursuant to the Government's Decree No. 15/CP dated March 2, 1993 on the tasks, powers, and responsibilities for state management by ministries and ministerial-level agencies;
Pursuant to the Management Council Resolution of the State Bank of Vietnam on the level of compulsory reserves for credit organizations;
To align with the compulsory reserve regulations for credit organizations issued together with Decision No. 260/QĐ-NH1 dated September 19, 1995 of the Governor of the State Bank of Vietnam;
At the proposal of the Director of the Economic Research Department;
DECISION:
Article 1: The ratio of Compulsory Reserves for credit organizations is set at 10%, calculated collectively for all types of deposits at credit organizations (excluding term deposits over 12 months).
Article 2: The structure of compulsory reserves includes:
- A minimum of 70% of the total amount required for compulsory reserves must be deposited in non-term deposit accounts at the State Bank of Vietnam.
- Cash and negotiable instruments still in circulation at credit organizations may account for a maximum of 30% of the total amount required for compulsory reserves of credit organizations.
Article 3: This Decision shall take effect from October 1, 1995, and any previous documents that conflict with this Decision shall cease to be effective.
Article 4: The Director of the Governor's Office, the Inspector General, the Heads of units under the Central State Bank, the Branch Governors of the State Bank of Vietnam in provinces and cities, and the General Directors (Directors) of credit organizations are responsible for implementing this Decision./.
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GOVERNOR OF THE STATE BANK OF VIETNAM (Signed)
Cao Sĩ Kiêm |
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