On Apr. 15, VIE CB proposed amendment re reserve requirement.
VIE CB proposed to amend and supplement circular 30/2019/TT-NHNN regarding mandatory reserve requirements for credit institutions and foreign bank branches.
Follows VIE CB Dec. 2020 set reserve requirements for credit institutions, see #70018.
Also follows VIE PRL Feb. 2024 reported Law on credit institutions passed, #164756.
Amendments
Add a new clause 4 to state that policy banks do not have to maintain mandatory reserves, to align with clause 2, article 23 of the Law on credit institutions 2024.
Credit institutions involved in recovery plans or compulsory transfer schemes can receive 50% reduction in mandatory reserve ratios, applies to all types of deposits.
Outlines detailed procedures for applying reduced reserve ratios, including the roles of the State Bank's transaction offices and banking supervisory authorities.
Consultation Period
Comments can be sent to Monetary Policy Department; no consultation deadline set.
