Guidance on notification of application of the reserve requirements in the State Bank of Vietnam

09:59, 03/08/2018

On May 29, 2018, the State Bank of Vietnam issued Circular No. 14/2018/TT-NHNN guiding the implementation of measures for managing monetary policy instruments to support credit institutions lending for agriculture and rural development.

Notification of application of the reserve requirements of credit institutions is guided in Circular No. 14/2018/TT-NHNN of the State Bank of Vietnam as follows:

1. The credit institution shall determine the average credit ratio for agriculture and rural development, if eligible for the reserve requirement, such credit institution shall send a documented request for the reserve requirement by post or directly to the State Bank (Credit Department of Economic Sectors) which clearly specifies the reserve requirement, specifically as follows:

- Step 1: Send a documented request for the reserve requirement for stage 1 before January 15;

- Step 2: Send a documented request for the reserve requirement for stage 2 before July 15.

2. The State Bank shall consider and inform the credit institution of the reserve requirement applied or disapproval of the reserve requirement requested by such credit institution with clear explanation. Notification time:

- For step 1: before February 02;

- For step 2: before August 01.

View rights and responsibilities of credit institutions at Circular No. 14/2018/TT-NHNN of the State Bank of Vietnam, effective from July 13, 2018.

- Thanh Lam -

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