Decision No. 2646/QD-NHNN dated December 21, 2012 of the State Bank of Vietnam on refinancing interest rate, rediscount interest rate and interest rate applicable to overnight loan in the inter-bank electronic payment and applicable to loan for making up capital deficit in the clearing payment of State Bank of Vietnam for banks

DECISION

ON REFINANCING INTEREST RATE, REDISCOUNT INTEREST RATE AND INTEREST RATE APPLICABLE TO OVERNIGHT LOAN IN THE INTER-BANK ELECTRONIC PAYMENT AND APPLICABLE TO LOAN FOR MAKING UP CAPITAL DEFICIT IN THE CLEARING PAYMENT OF STATE BANK OF VIETNAM FOR BANKS

THE GOVERNOR OF THE STATE BANK

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

Pursuant to the Government’s Decree No. 96/2008/ND-CP, of August 26, 2008, defining the functions, tasks, powers and organizational structure of the State bank of Vietnam;  

In furtherance of the Government’s Resolution No. 01/NQ-CP, of January 03, 2012 on major solutions to direct implementation of the socio-economic development plan and State budget estimate in 2012; 

At the proposal of the Director of the Monetary policy department,

DECIDES

Article 1.To stipulate the interest rates of the State bank of Vietnam as follows:

1.Re-financing interest rate to be of 9.0% per annum.

2.Rediscount interest rate to be of 7.0% per annum.

3.Interest rate applicable to overnight loan in the inter-bank electronic payment and applicable to loan for making up capital deficit in the clearing payment of State Bank of Vietnam for banks to be of 10.0% per annum.

Article 2.This decision takes effect on December 24, 2012 and replaces the Decision No. 1289/QD-NHNN, of June 29, 2012 on refinancing interest rate, rediscount interest rate and interest rate applicable to overnight loan in the inter-bank electronic payment and applicable to loan for making up capital deficit in the clearing payment of state bank of vietnam for banks.

Article 3.The Chief of office, 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, chairperson of Board of Directors, Members Council and General Directors (Directors) of Credit Institutions shall be responsible for the implementation of this Decision.