Decision No. 1311/QD-NHNN dated May 31, 2010 of the State Bank of Vietnam on the base interest rate in Vietnamese dong

DECISION

ON THE BASE INTEREST RATE IN VIETNAMESE DONG

THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam in 1997; the Law on the amendment, supplement of several Articles of the Law on the State Bank of Vietnam in 2003;

Pursuant to the Law on Credit Institutions in 1997; the Law on the amendment, supplement of several Articles of the Law on Credit Institutions in 2004;

Pursuant to the Decree No. 96/2008/ND-CP dated 26 August 2008 of the Government providing for the functions, duties, authorities and organizational structure of the State Bank of Vietnam;

Upon the proposal of the Director of the Monetary Policy Department,

DECIDES:

Article 1. To announce the base interest rate in Vietnamese Dong to be of 8.0% per annum.

Article 2.  This Decision shall be effective from 01 June 2010 and replace the Decision No. 1011/QD-NHNN dated 27 April 2010 of the Governor of the State Bank on the base interest rate in Vietnamese Dong.

Article 3. The Director of Administrative Department, the Director of the Monetary Policy Department and Heads of units of the State Bank of Vietnam, General Managers of the State Bank branches in provinces, cities under the central Government’s management; Board of Directors and General Directors (Directors) of Credit Institutions shall be responsible for the implementation of this Decision.