Decision No. 380/1997/QĐ-NHNN1 stipulates the status of the Vietnamese dong for foreign banks' branches operating in Vietnam.

Pursuant to …;

Regulations on the status of the Vietnamese dong for foreign bank branches operating in Vietnam

Pursuant to the Ordinance on the State Bank promulgated pursuant to Decree No. 37/LCT-HĐNN8 dated May 24, 1990 of the Chairman of the Council of State of the Socialist Republic of Vietnam;

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to Decree No. 189-HĐBT dated June 15, 1991 of the Chairman of the Council of Ministers promulgating the Joint Stock Bank Regulation and the Foreign Bank Branches Operating in 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;

At the proposal of the Director of the Economic Research Department and related departments,

The status of the Vietnamese dong of foreign bank branches is the difference between total assets on the debit side and total liabilities on the credit side of the Vietnamese dong on the balance sheet, and the business of buying and selling foreign currencies with deferred terms using the Vietnamese dong of foreign bank branches.

Pursuant to …;

Article 1. Foreign bank branches operating in Vietnam are permitted to maintain a Vietnamese dong status within 10% (ten percent) of the capital provided by the home country bank to the foreign bank branch and the reserve fund.

Article 2. Before 10:00 AM each day, foreign bank branches must send a report via fax or telex regarding the status of the Vietnamese dong from the previous working day to the State Bank's Trading Department. In cases where the reporting date is a holiday, the report shall be sent on the next working day.

Article 3. On a monthly basis, the State Bank's Trading Department is responsible for compiling reports on the implementation of the Vietnamese dong status and submitting them to the Governor of the State Bank and related departments. Upon discovering violations of Article 2 of this Decision, the Trading Department shall immediately report to the State Bank Inspectorate and related departments to propose measures for handling and submit them to the Governor of the State Bank.

The State Bank Inspectorate is responsible for supervising and inspecting the implementation of the provisions of this Decision and proposing to the Governor of the State Bank to handle violations through one of the following methods:

Article 4. - Warning: For the first violation.

- Suspension of operations in Vietnamese dong for a specified period: For the second violation.

- Permanent suspension of operations in Vietnamese dong: For continued violations.

Additionally, depending on the severity of the violation, banks may be subject to other penalties under applicable laws.

The Chief of the Governor's Office, the Director of the Economic Research Department, the Chief Inspector, the Director of the Trading Department, the Heads of related Departments and Bureaus at the Central State Bank, the Directors of the State Bank branches in provinces and cities, and the General Managers (Directors) of foreign bank branches operating in Vietnam are responsible for implementing this Decision.

Article 5. This Decision takes effect fifteen days after its issuance. Any amendments to this Decision shall be decided by the Governor of the State Bank./.

Article 6. 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./.