Decision No. 1728/QD-NHNN 2020 refinancing interest rate, re-discount interest rate in inter-bank electronic payment

DECISION

On the refinancing interest rate, re-discount interest rate, overnight lending interest rate in inter-bank electronic payment and lending to offset the capital shortage in the clearing of the State Bank of Vietnam for other banks

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THE GOVERNOR OF THE STATE BANK OF VIETNAM

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

Pursuant to the Government s Decree No. 16/2017/ND-CP dated February 17, 2017, on defining the functions, tasks, entitlements and organizational structure of the State Bank of Vietnam;

At the proposal of the Director of the Monetary Policy Department;

DECIDES:

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

1. The refinancing interest rate: 4.0% per annum.

2. The re-discount interest rate: 2.5% per annum.

3. The overnight lending interest rate in inter-bank electronic payment and lending to offset the capital shortage in the clearing of the State Bank of Vietnam for other banks: 5.0% per annum.

Article 2.This Decision takes effect on October 01, 2020 and replaces the Decision No. 918/QD-NHNN dated May 12, 2020 of the Governor of the State Bank of Vietnam on the refinancing interest rate, re-discount interest rate, overnight lending interest rate in inter-bank electronic payment and lending to offset the capital shortage in the clearing of the State Bank of Vietnam for other banks.

Article 3.The Chief of the State Bank’s Office, Director of the Monetary Policy Department, Heads of units of the State Bank of Vietnam, General Managers of State Bank s branches in provinces and centrally-run cities; Chairpersons of Board of Directors, Board of Members and General Directors (Directors) of credit institutions and foreign bank branches shall be responsible for the implementation of this Decision./.