CIRCULAR of the STATE BANK of VIETNAM Guide made regulation mandatory Reserve Bank Governor signed the decision No. 108/QD-NH5 on 09-7-1992 promulgated "regulations of mandatory reserves for credit institutions" and decision No. 115/QD-NH1 on 26-6-1992 on "compulsory reserve ratios for banks and credit institutions". The central State Bank instructions to add some specific points of the implementation are as follows: 1. The object implementation of reserve policy includes all commercial banks, investment banks, stock and develop new activities are licensed or are in time to adjust on the Organization and operation to be granted new licenses (including branch Foreign venture Bank operated in Vietnam) had mobilized deposits in Vietnam.
-These credit cooperatives in rural finance companies before the temporary eye has yet to implement the regulation on required reserves.
-The case of credit institutions was put into conservation status or bankruptcy, the time not yet terminated operations, custom specific case State Bank may consider approved for credit institutions that are part of or the entire cash reserve requirement.
2. for credit institutions had mobilized deposits in foreign currency in time yet have separate regulations, the implementation of mandatory reserves as well as a 10% rate on foreign currency deposits balance mobilized. Mandatory reserve funds in foreign currency deposited at the Exchange Bank or at a bank by bank transaction authorisation in writing in a separate account in the cash reserve account, not be mandatory reserves in foreign currencies and vice versa.
3. Transaction State Bank or State Bank branch in the province, the city where the Center or Central Headquarters cum credit institutions open to the main account, far more open an account mandatory reserves for credit institutions. This account is used for the cases below and on the level of 35%.
The branches of credit institutions do not have to open an account mandatory reserve currency.
4. The base for the calculation of the required reserves in Vietnam is deposit or deposit material shown on the balance sheet synthetic accounting accounts of credit institutions (i.e. including the activities of the Centre, the headquarters and branches).
Types of deposits and deposit the following is the base for the calculation of reserve requirement:-payment deposit of organizations and individuals (including State Treasury deposits, deposits of silver bullion Company, GEM).
-Term deposits, term not of organizations and individuals.
-Deposits of specialized economic organizations.
-Term savings deposits, not of the term.
-The funds management, keep households.
-Bonds, promissory notes under 1 year.
In particular, including: Member level I, from 30 to 35 and 37; level II accounts include 660, 780 (System of bank accounting account issued decision No. 104/NH-QD on 10-8-1991 Governor's State Bank).
5. The amount of the reserve requirement: 5.1. Calculate the following formula: the amount of mandatory reserves this month = month average deposit rate of mandatory reserves x 5.2. The average deposit balance last month.
In the time ahead, taking account balance say in point 4 of the balance sheet accounting account months ago, calculated according to the formula: number of head, plus last month's numbers, divide by 2.
For example, A credit institution has deposit accounts balance says in point 4. 2. above, the early July-92 are: 12 billion last July and no. 400-92 is 13 billion 200.
As such, the total average deposit balance in July 1992 of A credit institution: 12 billion 400 + 200 = 12-13 national female 800 2 required reserve ratio of 10%, then the balance has the required reserve accounts of A credit institution in August 1992 to is: 800 12 billion x 1 billion = 10 5.3 28 100. Transaction State Bank or State Bank branch in the city, against the real balance on reserve money account of A credit organization to determine the amount overpaid, and handle the accounting.
6. The case of the Governor of the State Bank announced the mandatory reserve ratio on 35% level calculation formula still comes on. Private interest for the amount of the reserve requirement on the level of 35%, in two steps: 6.1 step 1: required reserve amount on a level 35% = 1/2 the reserve ratio required announced-35% x average deposit balance last month for example, in May 1993, the Governor of the State Bank announced the mandatory reserve ratio 40%. According to the above formula and examples in average deposit balances, as well as 12 billion 800, there is: (40-35) x 12.8 billion = 640 million or 100 (12.8 billion x 40) (12.8 billion x 35)-= 640 million 6.2 100 100. Step 2: calculate interest after it has processed according to point 7 below, the amount available on your account mandatory reserves exceed 35% level of reality (640 million) are the State Bank charged interest according to the interest of non-term deposits with credit institutions at the Central Bank, since the quote moved enough reserve amount under the new rates.
7. excess handling, lack of money forced reserves 7.1. On 15th of every month, credit institutions have to collate the balance on deposit accounts required reserves at the Central Bank with a deposit to reserve and to report the results to the State Bank where credit institutions the main deposit account opening.
7.2. After checking reports of credit institutions, the latest was on 20 monthly, the State Bank announced a credit organization must reserve money level of that month and proceeded to handle superfluous, lacked under the articles 7 and 8 of the regulations required reserves.
a) lack of case: stated on the deposit accounts of credit institutions in the State Bank does not have money to pay right now, have to ask credit institutions within 03 days filed by cash or borrowers. So this term credit institutions did not submit the budget shortfall violates regulations of mandatory reserves and suffer a penalty of the amount of the deficiency which according to the policy of sanctions the State Bank Governor.
In addition to penalizing the violation, if on account of credit institutions have the money, then the Bank must still cite right until sufficient reserve money level.
b) excess cases: State Bank proactively extract excess amounts from the cash reserve account to the deposit accounts of credit institutions. If after 3 days, the State Bank does not extract transfer will also be handled according regulations sanctioning of State Bank Governor.
c) for cases of compulsory reserves, lack of difference compared to the compulsory reserves, the State Bank also must:-Computer and charged interest rates for credit organizations about the difference, from day 1 to day processing;

-Computer and the currency of the credit institutions, interest on the amount of money missing from the disparity on 1st December to handle.
8. Pursuant to the mandatory reserves in foreign currency as deposits or having the nature of deposit shown on the balance sheet synthetic accounting accounts of credit institutions, specifically including the accounting account number: level I-17: foreign currency deposits of institutions, foreigners.
-22: foreign currency deposits of domestic individuals, organizations and enterprises of Vietnam-foreign venture.
How to calculate the amount of mandatory reserves in foreign currency and excess processing lack the required reserves in foreign currency according to the way the computer and processed by Council of Vietnam, said at the points 5 and 7 of this circular.
9. Complaints and jurisdiction: 9.1. Credit institutions are right to complain, including appeal to the Governor of the State Bank of the processing decision not yet satisfactorily about the Executive statutes of compulsory reserves.
9.2. At the latest after 10 working days from the receipt of a complaint about the reserve requirement of a credit organization, Branch Manager SME, province, city, or the Director of the Exchange Bank needed to urgently consider settled, or are sometimes up a SME, TW. The time has not yet been resolved, credit institutions must accept the decision of SBV.
10. On November 25, the SBV branches, city, General SBV Executive situation reports required reserves (according to the attached form this dispatch).
10.1. The Bank's branch in the province, the city of Quang Binh from the back out, forming a 2:1 a sending Service banks and SME TCTD TW (Hanoi)-01.
10.2. The Bank branch in the province of Quang Tri City, come on, established a 3:1 a sending Service banks and SME TCTD TW (Hanoi)-1 a permanent Service sent banks and TCTD in 17 Ben Chuong Duong, Ho Chi Minh City.
-01 save 11. Director of accounting guidelines the accounting reserve in Vietnam and in foreign currency.
In the process, if there are obstacles and problems, requirements reflect about NHNH TW (Service of NH and TCTD) to guide and resolve.

 

The STATE BANK of VIETNAM-HO CHI MINH CITY branch No.:/BC SOCIALIST REPUBLIC of VIETNAM independence-freedom-happiness-CN, the SBV, the City set up to send NHTW (Service of NH-TCTD) on October 25, after a REPORT on the SITUATION of COMPULSORY RESERVE EXECUTIVE months......... years S TT TCTD Name required reserve ratio of the deposit balance on average last month as a basis for the calculation of the reserve the amount required to make mandatory reserves this month required reserve amount, before the actual amount of the reserve requirement superfluous or lacking (+-) notes v/v SBV has or has not extracted the required reserves excess transfers, lack.
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