Decision No. 581/2003/QD-NHNN On Issuing the Mandatory Reserve Ratio Regulations for Credit Institutions

Pursuant to …;

Regarding the issuance of the mandatory reserve regulation for credit institutions

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 and the Law on Credit Institutions No. 02/1997/QH10 dated December 12, 1997;

Pursuant to Decree No. 86/2002/NĐ-CP dated 05/11/2002 of the Government stipulating the functions, tasks, powers, and organizational structure of ministries and ministerial-level agencies;

Pursuant to the proposal of the Director of the Monetary Policy Department,

DECIDES:

Article 1. This Decision promulgates the mandatory reserve regulation for credit institutions.

Article 2. This Decision takes effect from the August 2003 mandatory reserve maintenance period.

Article 3. This Decision replaces Decision No. 51/1999/QĐ-NHNN1 dated February 10, 1999 on the issuance of the mandatory reserve regulation for credit institutions, Decision No. 191/1999/QĐ-NHNN1 dated May 31, 1999 on the mandatory reserve ratio for credit institutions, Decision No. 303/2000/QĐ-NHNN1 dated September 11, 2000, and Decision No. 700/2002/QĐ-NHNN dated July 4, 2002 of the Governor of the State Bank of Vietnam on depositing mandatory reserves in Vietnamese dong for credit institutions participating in inter-bank electronic payment systems.

Article 4. The Director of the Office, the Inspector General of the State Bank, the Head of the Monetary Policy Department, Heads of units under the State Bank, Governors of the State Bank Branches in provinces and centrally governed cities, General Directors (Directors) of credit institutions are responsible for implementing this Decision.