Updated  
March, 28 2012 09:48:09

Banks face tighter foreign currency position rules

The State Bank of Viet Nam issued Circular No 07/2012/TT-NHNN on March 20, regulating the foreign currency position of credit institutions. Under the new rules, banks will not be allowed to exceed a foreign currency position of 20 per cent of their capital instead of the previous 30 per cent. The total foreign currency position of branches of foreign banks with registered capital of US$25 million or less shall not exceed $5 million. The circular also provides a method for calculating foreign currency positions. It takes effect on May 2, replacing Decision No 1081/2002/QD-NHNN of October 2002 and Decision No 1168/2003/QD-NHNN of October 2003.— BIZCONSULT

Send Us Your Comments:
Name:
Your E-mail address:
Title:
 

VietNamNews may edit your comments and not all emails will be published.

Highlight

Mountains of coal sludge still threat to lives in Quang Ninh Mountains of coal sludge still threat to lives in Quang Ninh

Wiping sweat from his forehead, 36-year-old Trinh Duc Sang took big strides along a road covered with muddy coal sludge and dirt to the place that was his home until just three weeks ago. He climbed a rickety ladder that buckled under his weight to reach his neigh-bour's house overlooking a creek. From there, he crossed into his old home.

Vietnam Airlines launches new-generation Airbus plane Vietnam Airlines launches new-generation Airbus plane

The national flagship carrier Vietnam Airlines held a ceremony on July 2 to receive its first Airbus 350-900 aircraft and announce its upgrade service quality programme and new brand identifying system, marking a major step in bringing the airline into the international arena.

Wounds begin to heal between US, Viet Nam 1    Wounds begin to heal between US, Viet Nam

Pham Ba Lu swore thousands of times that he "would not live under the same sky as the United States".

Mental disorders affect 10% of Viet Nam's population: MoLISA Mental disorders affect 10% of Viet Nam's population: MoLISA

Nearly 9 million people in Viet Nam, or 10 per cent of the population, suffer from mental disorders, including 2.5 per cent with serious mental illnesses under social protection.