Deposits at financial institutions
(Updated at 16:33, 11/8/2010)
Deposit capital at financial institutions means using temporally free capital to deposit into accounts with financial institutions. This service is applicable to the State Bank and other financial institutions allowed operating in both national and international inter-bank market and having transaction limit with Agribank.

Main features:

 

-          Limited deposit at financial institutions depends on the approval of Agribank’s General Director at certain time; in case of exceeding limit it requires a written approval of Agribank’s General Director and Chairman of Board of Directors. Based on General Director’s decision, Director of Agribank Operations Centre define transaction limit applicable to FX managing Department of Agribank Operations Centre and each of its officer.

-          Transaction principle: strictly subject to rule of limit, ensure reserve requirement, liquidity and using capital safely and effective.

-          Term of deposit: non-term, overnight, daily, monthly

-          Interest rate: based on agreement but not exceeding ceiling level stipulated by the State Bank.

-          Currency: VND and other free transferable currency

 

Distribution channel/ Contact:

 

-          Operations Centre of the State bank and other financial institutions directly contact with Agribank’s Operations Centre through FX managing Department

 

Process:

 

-          Transactions are completed through Reuters Dealing System or Fax

-          After approved, data will be entered into IPCAS and then confirmation will be made by SWIFT or fax.

-          Loss line in forex dealing of Agribank’s Operations Centre is decided by Chairman of Board of Directors.

-          Deposit limit at financial institutions is defined by General Director for each period.

-          Director of Agribank Operations Centre defines transaction limit applicable to FX managing Department of Agribank Operations Centre and each of its officer. Transaction rule: safe, effective, subject to the loss line, ensure foreign currency balance adapted to the Sate bank’s rule for a certain period.

-          Principe in transaction: safe, effective, subject to FX dealing limit and ensure liquidity of the Bank.

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