STATE BANK OF VIETNAM
SOCIALIST REPUBLIC OF VIETNAM
Independence- Freedom - Happiness
Hanoi, 31 August 2011
REQUIRED RESERVE APPLICABLE TO CREDIT INSTITUTIONS ISSUED IN CONJUNCTION WITH THE DECISION NO. 581/2003/QD-NHNN DATED 09 JUNE 2003 OF THE GOVERNOR
OF THE STATE BANK
Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12 dated 16 June 2010;
Pursuant to the Law on Credit Institutions No. 47/2010/QH12 dated 16 June 2010;
Pursuant to the Decree No. 96/2008/ND-CP dated 26 August 2008 of the Government providing for te functions, duties, authorities and organizational structure of the State Bank of Vietnam;
The State Bank of Vietnam hereby amends, supplements several Articles of the Regulation on required reserve applicable to credit institutions issued in conjunction with the Decision No. 581/2003/QD-NHNN dated 09 June 2003 of the Governor of the State Bank as follows:
Article 1. To amend, supplement several articles of the Regulation on required reserve applicable to credit institutions issued in conjunction with the Decision No. 581/2003/QD-NHNN dated 09 June 2003 of the Governor of the State Bank as follows:
1. To supplement to Item b Paragraph 1 Article 12 with contents as follows:
"- Deposit of overseas credit institutions."
2. To supplement reporting forms enclosed to this Circular: Form No. 1 - Report on the average balance of mobilized deposits which are subject to required reserve and Form No. 3 - General report on the performance of required reserve of credit institutions.
Article 2. Implementation effectiveness
1. This Circular shall be effective from 01 September 2011.
2. The Decision No. 187/QD-NHNN dated 16 January 2008 of the Governor of the State Bank on the adjustment of required reserve applicable to credit institutions shall be abolished.
3. Director of the Administrative Department, Director of the Banking Inspection and Supervision Department, Heads of units of the State Bank, General Managers of State Bank's branches in provinces, cities under the central Government's management; Chairman of Board of Members, Chairman of Board of Directors and General Directors (Directors) of credit institutions shall be responsible for the implementation of this Circular.....
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