Decision No. 16/2008/QD-NHNN dated May 16, 2008 of the State Bank of Vietnam on the mechanism for regulating the basic interest rate in Vietnam dong

Summary
Content
Status
Vietnamese
Download

Error message

Font size:

ATTRIBUTE

Issuing body:	State Bank of Vietnam	Effective date:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Official number:	16/2008/QD-NHNN	Signer:	Nguyen Van Giau
Type:	Decision	Expiry date:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Issuing date:	16/05/2008	Effect status:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Fields:	Finance - Banking , Policy

For more details, click here.

Download files here.

LuatVietnam.vn is the SOLE distributor of English translations of Official Gazette published by the Vietnam News Agency

Effect status: Known

THE STATE BANKOF VIETNAM ------------	SOCIALIST REPUBLIC OF VIETNAM Independence- Freedom – Happiness --------------------
No. 16/2008/QD-NHNN	Hanoi, May 16, 2008

DECISION

ON MANAGEMENT MECHANISM OF BASE INTEREST RATES IN VND

THE GOVERNOR OF THE STATE BANK

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

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

- Pursuant to the Civil Code in 2005;

- Pursuant to the Decree No. 52/2003/ND-CP dated 19 May 2003 of the Government providing for functions, duties, authorities and organizational structure of the State Bank of Vietnam;

- Pursuant to the direction of the Prime Minister stated in the Dispatch No. 3168/VPCP-KTTH dated 16 May 2008 on the management mechanism of base interest rates;

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

DECIDES:

Article 1. To provide for the management of base interest rate in Vietnamese Dong to make basis for the determination of business interest rates by credit institutions as follows:

1. Credit institutions shall determine the business interest rate (mobilization interest rate, lending interest rate) in Vietnamese Dong applicable to customers not in excess of 150% of the base interest rate announced by State Bank of Vietnam for application from time to time.

2. On a monthly basis, the State Bank of Vietnam shall announce the base interest rate. In case of necessity, the State Bank of Vietnam shall timely announce the adjustment of base interest rates.

Article 2. This Decision shall be effective since 19 May 2008. The Decision No. 546/2002/QD-NHNN dated 30 May 2002 on the implementation of the mechanism of negotiable interest rates in VND commercial credit activities of credit institutions for customers shall cease its effectiveness.

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

THE GOVERNOR OF THE STATE BANK OF VIETNAM

Nguyen Van Giau

Please log in to a subscriber account to see the full text. Don’t have an account? Register here

Processing, please wait...

LuatVietnam.vn is the SOLE distributor of English translations of Official Gazette published by the Vietnam News Agency

VIETNAMESE DOCUMENTS

ENGLISH DOCUMENTS

Official Gazette

Others

* Note: To view documents downloaded from LuatVietnam.vn, please install DOC, DOCX and PDF file readers

For further support, please call 19006192

Decision No. 16/2008/QD-NHNN dated May 16, 2008 of the State Bank of Vietnam on the mechanism for regulating the basic interest rate in Vietnam dong

ATTRIBUTE

VIETNAMESE DOCUMENTS

ENGLISH DOCUMENTS

SAME CATEGORY

Circular No. 53/2024/TT-NHNN dated December 04, 2024 of the State Bank of Vietnam on debt restructuring by credit institutions and foreign bank branches for customers facing difficulties due to the impact and damage of Storm No. 3, flooding and landslides after Storm No. 3

Decision No. 12/2008/QD-NHNN dated April 29, 2008 of the State Bank on the amendment of several articles of the Regulation on the discount, rediscount of valuable papers of the State Bank for banks, issued in conjunction with the Decision No. 898/2003/QD-NHNN dated August 12, 2003

Decision No. 13/2008/QD-NHNN dated April 29, 2008 of the State Bank of Vietnam promulgating the Regulation on operation networks of commercial banks

Circular No. 33/2008/TT-BTC dated April 23, 2008 of the Ministry of Finance amending and supplementing the Finance Ministry's Circular No. 119/2005/TT-BTC dated December 22, 2005, which guides financial regulations applicable to Dung Quat Economic Zone