Decision No. 423/QD-NHNN 2020 interest rates of the deposit of the State Treasury

DECISION

On the interest rates of the deposit of the State Treasury, the Deposit Insurance of Vietnam in the State Bank of Vietnam

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THE GOVERNOR OF THE STATE BANK OF VIETNAM

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

Pursuant to the Law on Credit Institutions No. 47/2010/QH12 dated June 16, 2010 and the Law on amending a number of Articles of the Law on Credit Institutions No. 47/2010/QH12 dated November 20, 2017;

Pursuant to the June 18, 2012 Anti-Money Laundering Law;

Pursuant to the Decree No. 16/2017/ND-CP dated February 17, 2017 of the Government, providing for functions, duties, authorities and organizational structure of the State Bank of Vietnam;

Upon proposal of the Director of the Monetary Policy Department;

DECISION

Article 1.The interest rates of the deposit of the State Treasury, the Deposit Insurance of Vietnam in the State Bank of Vietnam shall be stipulated as follow:

1. For deposit in Vietnam Dong of the State Treasury: 1.0% per annum.

2. For deposit in foreign currencies of the State Treasury: 0.05% per annum.

3. For deposit in Vietnam Dong of the Deposit Insurance of Vietnam: 1.0% per annum.

Article 2.This Decision takes effect on March 17, 2020 and replace the Decision No. 2499/QD-NHNN dated November 29, 2019 of the Governor of the State Bank of Vietnam on interest of deposit of required reserves and deposit of required reserves extension of credit institutions, foreign bank branches in the State Bank of Vietnam.

Article 3.Chief of the Ministerial Office, Director of the Monetary Department, Heads of units under the State Bank of Vietnam, Directors of State Bank branches in provinces and municipal cities, the General Director of the State Treasury; Chairpersons of the Boards of Directors, General Directors (Directors) of the Deposit Insurance of Vietnam shall be responsible for implementing this Circular./.

For the Governor of the State Bank of Vietnam

The Deputy Governor

Nguyen Thi Hong