Decision No. 1073/QD-NHNN dated May 10, 2013 of the State Bank of Vietnam on refinancing interest rate, rediscount interest rate and interest rate applicable to overnight loan in the inter-bank electronic payment and applicable to loan for making up capital deficit in the clearing payment of State Bank of Vietnam

THE STATE BANK OF VIETNAM

Decision No. 1073/QD-NHNN dated May 10, 2013 of the State Bank of Vietnam on  refinancing interest rate, rediscount interest rate and interest rate applicable to overnight loan in the inter-bank electronic payment and applicable to loan for making up capital deficit in the clearing payment of State Bank of Vietnam

Pursuant to the Law No. 46/2010/QH12 dated June 16, 2010 of the National Assembly on the State Bank of Vietnam;

Pursuant to the Decree No. 96/2008/ND-CP dated August 26, 2008 of the Government defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

On the implementation of the Resolution No. 01/NQ-CP dated January 07, 2013 of the Government on major solutions to direct implementation of the socio-economic development plan and State budget estimate in 2013; 

At the proposal of Head of Monetary Policy Department,

DECIDES:

Article 1.To regulate the interest rates of the State Bank of Vietnam as follows:

1. Interest rate of refinancing is 7.0% per annum.

2. Interest rate of rediscount is 5.0% per annum.

3. Overnight interest rate in inter-bank electronic payment and loan for making up capital deficit in clearing payment of the State Bank of Vietnam for bank is 8.0% per annum.

Article 2.This Decision takes effect on May 13, 2013 and replaces the Decision No.  643/QD-NHNN dated March 25, 2013 of the State Bank of Vietnam on  refinancing interest rate, rediscount interest rate and interest rate applicable to overnight loan in the inter-bank electronic payment and applicable to loan for making up capital deficit in the clearing payment of State Bank of Vietnam.

Article 3. The Chief Officer, Director of Foreign Transaction Management Department and heads of units directly under the State Bank, Director of State Bank branches in central-affiliated provinces and cities; Chairman of the Board, Chairman of the member Council, Chairman of the company, General Director (Director) of credit institutions shall implement Circular./.

For The Governor

Deputy Governor

Nguyen Dong Tien