Decision No. 1254/QD-NHNN of September 30, 2004, on the base interest rate in Vietnam dong

DECISION

ON THE BASE INTEREST RATE IN VIETNAM DONG

THE GOVERNOR OF THE STATE BANK

- Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated 12 December, 1997 and the Law on the amendment, supplement of several Articles of the Law on the State Bank of Vietnam No. 10/2003/QH11 dated 17 June, 2003;
- Pursuant to the Law on Credit Institutions No. 02/1997/QH10 dated 12 December, 1997 and the Law on the amendment, supplement of several Articles of the Law on Credit Institutions No. 20/2004/QH11 dated 15 June 2004;
- Pursuant to the Decree No. 86/2002/ND-CP dated 05 November, 2002 of the Government providing for the function, assignment, authority and organizational structure of the ministries and ministerial level agencies;
- Upon the proposal of the Director of the Monetary Policy Department,

DECIDES:

Article 1.To announce the base interest rate in Vietnam Dong to be of 0.625% per month (7.50% per year)

Article 2.

1. This Decision shall be effective from 01 October 2004 and replace the Decision No. 1079/QD-NHNN dated 31 August 2004 of the Governor of the State Bank of Vietnam on the base interest rate in Vietnam Dong.

2. Heads of units of the State Bank, General Managers of the State Bank s branches in provinces, cities under the central Governments management, the Board of Directors and General Directors (Directors) of Credit Institutions shall be responsible for the implementation of this Decision.