'[note-]issuance authority of the states of Cambodia, Laos and Vietnam'), also known as the Institut d'Émission des États Associés, was a short-lived currency board operating in French Indochina in 1952–1954.
It was first envisaged at the French-Vietnamese Dalat conference of 1946,[1] and enabled by legislation in 1948 that was however only implemented three years later.
While its seat was legally established in Phnom Penh,[2] the building of a proper head office there was delayed, and in practice the institute was run from Saigon.
[5] It subcontracted much of its operations, including banknote printing, to the still-powerful Banque de l'Indochine.
On 1 January 1955, in application of a quadripartite agreement signed only three days earlier in Paris,[8] the role of the Institut d'Émission was taken over by the National Bank of Cambodia in the Kingdom of Cambodia, the National Bank of Laos in the Kingdom of Laos, and the National Bank of Vietnam in the State of Vietnam, respectively issuing the Cambodian riel, Lao kip, and South Vietnamese đồng.