VietnameseDecision No. 893/2001/QD-NHNN of July 17, 2001, on the performance of the foreign currency swap operation between the state bank and banks to meet requirements for the short-term VND funds of banks
ATTRIBUTE
Decision No. 893/2001/QD-NHNN of July 17, 2001, on the performance of the foreign currency swap operation between the state bank and banks to meet requirements for the short-term VND funds of banks
| Issuing body: | State Bank of Vietnam | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 893/2001/QD-NHNN | Signer: | Duong Thu Huong |
| Type: | Decision | Expiry date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Issuing date: | 17/07/2001 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Finance - Banking |
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STATE BANK OF VIETNAM ------- | SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom – Happiness --------- |
No. 893/2001/QD-NHNN | Hanoi, July 17th , 2001 |
DECISION
ON THE PERFORMANCE OF THE FOREIGN CURRENCY SWAP OPERATION BETWEEN THE STATE BANK AND BANKS TO MEET REQUIREMENTS FOR THE SHORT-TERM VND FUNDS OF BANKS
THE GOVERNOR OF THE STATE BANK
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated 12 December, 1997;
Pursuant to the Decree No. 15/CP dated 02 March, 1993 of the Government on the assignment, authority and responsibility for the State management of the ministries and ministry-level agencies;
Upon the proposal of the Director of the Monetary Policy Department,
Pursuant to the Decree No. 15/CP dated 02 March, 1993 of the Government on the assignment, authority and responsibility for the State management of the ministries and ministry-level agencies;
Upon the proposal of the Director of the Monetary Policy Department,
DECIDES
Article 1.
This Decision shall provide for the performance of foreign currency swap operations (SWAP) between the State Bank and banks to meet requirements for short-term VND funds of banks in the case of their temporary liquidity shortage to regulate the money market in line with objectives of the monetary policy from time to time.
Article 2.
The foreign currency swap operation provided for in this Decision shall be performed through an agreement of State Bank of Vietnam to purchase US$ in form of a spot transaction, and to re-sell the same amount of US$ after a certain period of time in form of a forward transaction. The performance of swap operation for other foreign currencies shall be provided for by the Governor of the State Bank of Vietnam from time to time.
Article 3.
The State Bank shall use the money supply for the refinancing purpose in each period of time to perform the foreign currency swap operation with banks.
Article 4.
Subjects participating in the foreign currency swap operation with the State Bank in accordance with provisions of this Decision shall be banks which are authorized by the State Bank to engage in foreign exchange activities.
Article 5.
The foreign currency swap operation with the State Bank shall be performed with terms of 7 days, 15 days, 30 days, 60 days and 90 days.
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