VietnameseDecision No. 243/2000/QD-NHNN1 of August 02, 2000, on the announcement of the US$ interest rate bands as a basis for the determination by credit institutions of lending interest rates for customers
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Decision No. 243/2000/QD-NHNN1 of August 02, 2000, on the announcement of the US$ interest rate bands as a basis for the determination by credit institutions of lending interest rates for customers
| 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: | 243/2000/QD-NHNN1 | Signer: | Le Duc Thuy |
| 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: | 02/08/2000 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Finance - Banking |
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STATE BANK OF VIETNAM ------- | SOCIALIST REPUBLIC OF VIETNAM Independence-freedom-happiness --------- |
No. 243/2000/QD-NHNN1 | Hanoi, August 02nd , 2000 |
DECISION
ON THE ANNOUNCEMENT OF THE US$ INTEREST RATE BANDS AS A BASIS FOR THE DETERMINATION BY CREDIT INSTITUTIONS OF LENDING INTEREST RATES FOR CUSTOMERS
THE GOVERNOR OF THE STATE BANK
Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated 12 December, 1997;
Pursuant to the Decree No. 15/CP dated 02 March, 1993 of the Government on the assignment, authority and responsibility for the State management of the ministries and ministry-level agencies;
Based on the direction of the Prime Minister stated in the Dispatch No. 322/VPCP-KTTH dated 25 July, 2000 of the Office of the Government on the operation of the interest rates;
Upon the proposal of the Director of the Monetary Policy Department,
Pursuant to the Decree No. 15/CP dated 02 March, 1993 of the Government on the assignment, authority and responsibility for the State management of the ministries and ministry-level agencies;
Based on the direction of the Prime Minister stated in the Dispatch No. 322/VPCP-KTTH dated 25 July, 2000 of the Office of the Government on the operation of the interest rates;
Upon the proposal of the Director of the Monetary Policy Department,
DECIDES
Article 1. To announce the interest rate bands as a basis for the determination by credit institutions of lending interest rates in US$ in accordance with provision of the Decision No. 241/2000/QD-NHNN1 dated 2 August, 2000 of the Governor of the State Bank on the change of the operational mechanism of lending interest rate of credit institutions for customers as follows:
1. For short-term lending: 1.0% per annum;
2. For medium & long-term lending: 2.5% per annum.
Article 2. The lending interest rate determined by credit institutions plus other fees relating to the loans that are converted into a percentage shall not exceed the level of the US$ interest rate provided for in paragraph 1 Article 3 of the Decision No.241/2000/QD-NHNN1 dated 2 August, 2000 of the Governor of the State Bank on the change of the operational mechanism of lending interest rate of credit institutions for customers at the lending time and the respective bands provided for in Article 1 of this Decision.
Article 3.
1. This Decision shall be effective from 5 August, 2000;
2. Following legal documents shall cease their effectiveness: The Decision No. 309/1998/QD-NHNN1 dated 10 September, 1998 of the Governor of the State Bank on the stipulation of the level of lending interest rate in US$ of credit institutions for legal entities, individuals and interest rates of legal entities deposits in US$ at credit institutions; The Dispatch No. 459/CV-NCKT3 dated 14 September, 1998 of the State Bank on the guidance of the implementation of the Decision No. 309/1998/QD-NHNN1 dated 10 September, 1998; other documents in contrary to the provisions of this Decision.
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