Press Release on issuance of Circular No.30/2019/TT-NHNN
Hanoi, December 27, 2019 – The Governor of the State Bank of Vietnam (SBV) has issued Circular No. 30/2019/TT-NHNN stipulating the reserve requirements applied for the credit institutions and the foreign bank branches.
The main substances of the new Circular stipulate: the method of determining the reserve requirements; maintenance of the reserve requirements; types of deposits which are subject to the reserve requirements; terms for determining and maintaining the reserve requirements; the implementation of the credit institutions and the SBV entities.
The new Circular takes effect from March 1, 2020, and shall replace the following documents: Decision No.581/2003/QD-NHNN dated June 9, 2003 promulgating the Regulations on the reserve requirements for the credit institutions; Circular No.27/2011/TT-NHNN dated August 31, 2011 amending and supplementing a number of articles of the Regulations on the reserve requirements for the credit institutions, which was promulgated as attachment to Decision No.581/2003/QD-NHNN dated June 9, 2003; Circular No.23/2015/TT-NHNN dated December 4, 2015 amending and supplementing a number of articles of the Regulations on the reserve requirements for the credit institutions, which was promulgated as attachment to Decision No.581/2003/QD-NHNN dated June 9, 2003.
Translated by Le Hang