Decision 07/2013/QD-TTg of the Prime Minister on the financial regime of the State Bank of Vietnam

Decision 07/2013/QD-TTg of the Prime Minister on the financial regime of the State Bank of Vietnam

The new legal capital of the State Bank of Vietnam (SBV) will be 10,000 billion VND, increased by 5,000 billion VND.

Annually, the SBV may deduct 20% of their revenues and expenditures to fund the implementation of national currencies policy, increased by 10% compared to the previous regulation, the real balance of this fund may not exceed 1 time the legal capital.

At the same time the SBV will deduct 10% of their revenues and expenditures to establish a reserve fund, the maximum balance of the fund does not exceed 25% of the legal capital.

Besides, the SBV must be responsible for full, accurate and timely accounting the revenue and expenditure in accordance with the law.

Decision takes effect from March 15th 2013.