VIETNAM - Central Bank to Cut Foreign Exchange Postionof Credit Institutions to 20%: Draft Circular
VIETNAM - Central Bank to Cut Foreign Exchange Postionof Credit Institutions to 20%: Draft Circular
by lexie Thu Nov 17, 2011 12:53 pm
November 17, 2011
Central Bank to Cut Foreign Exchange Postionof Credit Institutions to 20%: Draft Circular
The State Bank of Vietnam (SBV) on Nov 16 publicized the second draft circular on foreign exchange positions, lowering the foreign exchange position limit of credit institutions and branches of foreign banks at day end to 20%, instead of current level of 30%.
The foreign exchange position limit would be calculated by measuring the ratio of total foreign exchange positions to the institutions’ equity capital of the previous month, the second draft circulation stipulated.
Branches of foreign banks whose equity capital was recorded at above $25 million had to keep their day-end foreign exchange positions below $5 million.
In special cases, the Governor of the State Bank would consider allowing credit institutions to maintain their foreign exchange positions outside the regulated limits.
The second draft circular regulated that credit institutions submit reports on their foreign exchange positions to the central bank before 13:00 of the following day, instead of 11:00 in the first draft.
http://www.vietfinancenews.com/2011/11/central-bank-to-cut-foreign-exchange.html
Central Bank to Cut Foreign Exchange Postionof Credit Institutions to 20%: Draft Circular
The State Bank of Vietnam (SBV) on Nov 16 publicized the second draft circular on foreign exchange positions, lowering the foreign exchange position limit of credit institutions and branches of foreign banks at day end to 20%, instead of current level of 30%.
The foreign exchange position limit would be calculated by measuring the ratio of total foreign exchange positions to the institutions’ equity capital of the previous month, the second draft circulation stipulated.
Branches of foreign banks whose equity capital was recorded at above $25 million had to keep their day-end foreign exchange positions below $5 million.
In special cases, the Governor of the State Bank would consider allowing credit institutions to maintain their foreign exchange positions outside the regulated limits.
The second draft circular regulated that credit institutions submit reports on their foreign exchange positions to the central bank before 13:00 of the following day, instead of 11:00 in the first draft.
http://www.vietfinancenews.com/2011/11/central-bank-to-cut-foreign-exchange.html
*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie- Elite Member
- Posts : 1812
Join date : 2011-06-24 
Similar topics» Vietnam 2011 credit growth at 10.9 yr/yr -Central bank
» VIETNAM - Ten months credit growth seen at 8.61 pct-central bank
» Vietnam targets 2012 credit growth at 15-17 pct-central bank
» Vietnam's Central bank to boost money supply, credit
» Vietnam Central bank to boost money supply, credit
» VIETNAM - Ten months credit growth seen at 8.61 pct-central bank
» Vietnam targets 2012 credit growth at 15-17 pct-central bank
» Vietnam's Central bank to boost money supply, credit
» Vietnam Central bank to boost money supply, credit
Permissions in this forum:
You can reply to topics in this forum
» Cabinet Approves Loan Agreement for Water Supply and Sanitation Project in Baghdad
» Wiley Morgan of Gen64 on Skype Chat Friday Night ~ Updated 6/10
» Mahmoud Dagher explains the economic feasibility of removing zeros from the local currency
» Al-Rasheed Bank announces the removal of its name from the list of international sanctions of the Charter of the United Nations
» The United States allocated 140$ million to support Iraq
» USD/IQD exchange rates climb in Baghdad
» NOPEC Law
» Turkish lira weakens to 15.16 against dollar
» Here's my guess
» Tony and Twitter
» Hamza Al-Jawahiri to / NINA /: The survival of quotas and consensus will not achieve any sustainable development for the national economy / expanded
» The appearance of Muhammad Salih to / Nina /: This is how the surplus oil revenues are disposed of
» USD closes slightly higher in Baghdad on Sunday
» The Central Bank of Iraq 75 years in the face of economic challenges
» (Budget Reserve) may see the light next Wednesday
» Al-Kazemi's advisor puts forward a proposal to double growth rates
» VOTE -- Who Is The Worst Dinarland INTEL Provider Today?
» “Dedicated to Service” on Instagram
» Rehabilitation of the Church of the Virgin Mary in the province of Basra within the Tamkeen project for community initiatives
» 95% of Iraqi revenues still come from oil
» CBI foreign currency sales hike in April
» Where does the excess oil price differentials go?
» Introducing myself...
» Amer Al-Jawahiri to / Nina /: Improving economic activities in the local market is more stable than deleting confusing zeros
» Iraq's oil generates more than 10 billion dollars in one month
» USD/IQD exchange rates inched up in Baghdad
» Becky McGee/Oootah - "Wanted: Attorney and/or Lawyer!" 3/10/19
» Exchange rate game in Iraq: how speculators grossed millions of dollars in 48 hours scheme
» Holly: "Remember we are not in the know of all that goes on behind the scenes" (More Guessing Games...Just What Everybody Needs! LOL) 7/13/21
» RV INTEL BY TEXAS SNAKE, BOB LOCK AND ED OCALA (Three Blind Mice? LOL) 12/8/21
» Technical Adviser to the Prime Minister: The positive effects of changing the exchange rate will be felt more after 3 years
» An economist stresses the need to invest surplus money from oil revenues in profitable projects
» CBI sells +212$ million in the forex auction on Monday
» USD/IQD exchange rates drop in Baghdad
» Outdated laws are a major economic challenge for the next government, Allawi says
» (Initial agreement) to reduce the amount of the emergency support law to 23 trillion dinars
» Planning announces a rise in the monthly and annual inflation rate in Iraq
» Minister of Finance: The financial situation is very good and an upcoming meeting with the International Monetary Fund and the World Bank is in Baghdad
» Mazhar Muhammad Salih: The Central Bank's balance is three times more than the government's external debt