Decision No. 796/2004/QĐ-NHNN adjusts the required reserve ratio for credit institutions, applicable from the July 2004 reserve maintenance period. The required reserve ratio varies depending on the type of bank and deposit term.
适用范围
Credit institutions include: State Commercial Banks, Agricultural and Rural Development Banks, Urban Joint Stock Commercial Banks, Rural Joint Stock Commercial Banks, Cooperative Banks, Branches of Foreign Banks, Joint Venture Banks, Central People's Credit Funds, Financial Companies, and Leasing Companies.
要点
- State Commercial Banks and Urban Joint Stock Commercial Banks, Rural Joint Stock Commercial Banks, Cooperative Banks, Branches of Foreign Banks, Joint Venture Banks, Financial Companies, Central People's Credit Funds: The required reserve ratio for demand deposits and time deposits under 12 months is 5% (VND) or 8% (foreign currency); the required reserve ratio for time deposits from 12 to under 24 months is 2% (VND) or 2% (foreign currency).
- Agricultural and Rural Development Bank: The required reserve ratio for demand deposits and time deposits under 12 months is 4% (VND); the required reserve ratio for time deposits from 12 to under 24 months is 2% (VND).
- The required reserve ratio applies differently to various types of credit institutions based on the type of bank and deposit term.
- This Decision replaces Decision No. 831/2003/QĐ-NHNN and Decision No. 582/2003/QĐ-NHNN.
- This Decision takes effect from the July 2004 reserve maintenance period.
🌐 本文件的社会影响
- Positive impact: Helps the State Bank better control deposit situations of credit institutions, ensuring financial system stability.
- Negative impact: Increased burden of reserve requirement costs for commercial banks and financial companies.
❓ 常见问题
Which banks apply what required reserve ratios?
State Commercial Banks, Agricultural and Rural Development Banks, Urban Joint Stock Commercial Banks, Rural Joint Stock Commercial Banks, Cooperative Banks, Branches of Foreign Banks, Joint Venture Banks, Central People's Credit Funds, Financial Companies, and Leasing Companies apply a required reserve ratio of 5% (VND) or 8% (foreign currency) for demand deposits and time deposits under 12 months; a required reserve ratio of 2% (VND) or 2% (foreign currency) for time deposits from 12 to under 24 months. Agricultural and Rural Development Bank applies a required reserve ratio of 4% (VND) for demand deposits and time deposits under 12 months; a required reserve ratio of 2% (VND) for time deposits from 12 to under 24 months.
When does this Decision take effect?
Decision No. 796/2004/QĐ-NHNN takes effect from the July 2004 reserve maintenance period.
What is the required reserve ratio for foreign currency deposits?
The required reserve ratio for demand deposits and time deposits under 12 months applicable to State Commercial Banks, Urban Joint Stock Commercial Banks, Rural Joint Stock Commercial Banks, Cooperative Banks, Branches of Foreign Banks, Joint Venture Banks, Financial Companies, and Central People's Credit Funds is 8% (foreign currency); the required reserve ratio for time deposits from 12 to under 24 months applicable to State Commercial Banks, Urban Joint Stock Commercial Banks, Rural Joint Stock Commercial Banks, Cooperative Banks, Branches of Foreign Banks, Joint Venture Banks, Central People's Credit Funds, Financial Companies, and Leasing Companies is 2% (foreign currency).
Which decisions does this Decision replace?
Decision No. 796/2004/QĐ-NHNN replaces Decision No. 831/2003/QĐ-NHNN and Decision No. 582/2003/QĐ-NHNN.
What is the required reserve ratio applied by the Agricultural and Rural Development Bank?
The Agricultural and Rural Development Bank applies a required reserve ratio of 4% (VND) for demand deposits and time deposits under 12 months; a required reserve ratio of 2% (VND) for time deposits from 12 to under 24 months.
全文
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STATE BANK OF VIETNAM |
SOCIALIST REPUBLIC OF VIETNAM |
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Number: 796/2004/QĐ-NHNN |
Hanoi, June 25, 2004 |
DECISION
Regarding the adjustment of the reserve requirement ratio for credit institutions
_________________________
GOVERNOR OF THE STATE BANK OF VIETNAM
The interest rate on deposits in Vietnamese dong at the State Bank of Vietnam for credit organizations with reserve requirement balances under VND 500 million, for basic credit funds, and for the Social Policy Bank is 1.2% per annum.
Pursuant to Decree No. 86/2002/NĐ-CP dated November 5, 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,
DECISION:
The reserve requirement ratio applicable to deposits in Vietnamese dong for credit institutions is as follows:
1. Reserve requirement ratio for demand deposits and time deposits with terms under 12 months:
a. For state-owned commercial banks (excluding the Agricultural Bank and Rural Development Bank), urban joint-stock commercial banks, joint venture banks, foreign bank branches, finance companies, it is 5% of the total amount of deposits subject to the reserve requirement.
b. For the Agricultural Bank and Rural Development Bank, it is 4% of the total amount of deposits subject to the reserve requirement.
c. For rural joint-stock commercial banks, central credit unions, cooperative banks, it is 2% of the total amount of deposits subject to the reserve requirement.
2. Reserve requirement ratio for time deposits with terms from 12 to under 24 months applies to state-owned commercial banks, urban joint-stock commercial banks, rural joint-stock commercial banks, cooperative banks, joint venture banks, foreign bank branches, central credit unions, finance companies, financial leasing companies, it is 2% of the total amount of deposits subject to the reserve requirement.
The reserve requirement ratio applicable to foreign currency deposits for credit institutions is as follows:
The reserve requirement ratio for demand deposits and time deposits with terms under 12 months applies to state-owned commercial banks, urban joint-stock commercial banks, rural joint-stock commercial banks, cooperative banks, foreign bank branches, joint venture banks, finance companies, central credit unions, it is 8% of the total amount of foreign currency deposits subject to the reserve requirement.
The reserve requirement ratio for time deposits with terms from 12 to under 24 months applies to state-owned commercial banks, urban joint-stock commercial banks, rural joint-stock commercial banks, cooperative banks, foreign bank branches, joint venture banks, central credit unions, finance companies, financial leasing companies, it is 2% of the total amount of foreign currency deposits subject to the reserve requirement.
This Decision takes effect from the July 2004 reserve maintenance period and replaces Decision No. 831/2003/QĐ-NHNN dated July 30, 2003, replaces Point c Clause 1 Article 2, Clause 2 Article 2 and Article 3 of Decision No. 582/2003/QĐ-NHNN dated June 9, 2003 of the Governor of the State Bank of Vietnam.
The Director of the Office, the Inspector General of the State Bank, the Head of the Monetary Policy Department, the Head of the Accounting and Finance Department, the Heads of units under the State Bank, the Governors of the State Bank branches in provinces and cities, the General Directors (Directors) of credit institutions are responsible for implementing this Decision./.
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GOVERNOR OF THE STATE BANK OF VIETNAM (Signed) Le Duc Thuy |
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