Decision supplementing the provisions on rediscounting by the State Bank with Credit Institutions, allowing the use of foreign currency as collateral at the State Bank Trading Department and paying interest at the foreign currency deposit interest rate. The Decision takes effect from December 25, 1997.
Đối tượng áp dụng
Credit Institution
Các điểm cốt lõi
- Credit Institution → may use US Dollars (or other foreign currencies - when conditions permit) in their deposit accounts at the State Bank as collateral at the State Bank Trading Department.
- The amount of foreign currency used for collateral → will be paid interest by the Trading Department at the foreign currency deposit interest rate at the State Bank.
🌐 Tác động xã hội từ văn bản này
- Positive impact: Credit Institutions have more flexible financial options, increasing borrowing capacity.
- Negative impact: It may lead to exchange rate risks and more complex foreign exchange management for Credit Institutions.
❓ Câu hỏi thường gặp
What types of foreign currency can Credit Institutions use as collateral?
Credit Institutions may use US Dollars or other foreign currencies (if conditions permit) as collateral at the State Bank Trading Department.
What is the interest rate paid to Credit Institutions when using foreign currency as collateral?
The interest rate paid to Credit Institutions is calculated based on the foreign currency deposit interest rate at the State Bank.
When does this Decision take effect?
The Decision takes effect from December 25, 1997.
What actions must Credit Institutions take to implement this new provision?
Credit Institutions must use foreign currency in their deposit accounts at the State Bank as collateral at the State Bank Trading Department and record according to the guidance of the Accounting and Finance Department.
Are there any conditions for Credit Institutions to use foreign currency?
Credit Institutions may only use US Dollars or other foreign currencies when specific conditions set by the State Bank are met.
Toàn văn
Pursuant to …;
Supplement the provisions on rediscounting by the State Bank with credit institutions issued pursuant to Decision No. 285/QĐ-NH14 dated November 10, 1994 of the Governor of the State Bank.
GOVERNOR OF THE STATE BANK OF VIETNAM
- Based on the State Bank Law dated May 24, 1990;
- Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities of state management of Ministries and ministerial-level agencies;
- At the proposal of the Director of the Credit Department of the State Bank.
Pursuant to …;
Article 1: Add an additional Article to Chapter II of the Provisions on rediscounting by the State Bank for credit institutions issued pursuant to Decision No. 285/QĐ-NH14 dated November 10, 1994 of the Governor of the State Bank as follows:
"Article 16 a: In addition to the documents specified in Article 7, credit institutions may also use foreign currency in US Dollars (or other types of foreign currency - when conditions permit) on their deposit accounts at the State Bank as collateral at the State Bank Branch. The amount of foreign currency used as collateral will be paid interest by the Branch at the rate of interest applicable to foreign currency deposits at the State Bank. The Accounting-Finance Department shall provide detailed guidance on accounting entries."
Article 2: This Decision takes effect from December 25, 1997.
Article 3: The Head of the Governor's Office, the Director of the Credit Department, the Director of the Economic Research Department, the Director of the Accounting-Finance Department, the Director of the State Bank Branch, the Heads of relevant units at the Central State Bank; the Directors of the State Bank Branches in provinces and cities, the General Managers (Managers) of Commercial Banks, Investment and Development Banks, and Central Credit Funds are responsible for implementing this Decision.
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