The State Bank of Vietnam raised the required reserve ratios on foreign currency for credit institutions by 100 basis points. The ratio on non-term foreign currency deposits and deposits of less than 12 months will be 8% (7% previously) for most State-owned commercial banks, joint stock banks, 100 percent foreign owned banks, joint venture banks, and foreign bank branches. The ratio will be 7% (6% previously) for the Bank for Agricultural and Rural Development, the Central People’s Credit Fund, and cooperative banks. The ratio on deposits longer than 12 months will be 6% (5%) and 5% (4%) respectively for those two groups.