Decision No. 837/QD-NHNN dated April 10, 2009 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 issued in 1997; the Law on the amendment, supplement of several Articles of the Law on the State Bank of Vietnam issued in 2003;

-         Pursuant to the Decree No. 96/2008/ND-CP dated 26 August 2008 of the Government providing for the functions, duties, authorities and organizational structure of the State Bank of Vietnam;

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

DECIDES:

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

1. Re-financing interest rate to be of 7.0% per annum.

2. Rediscount interest rate to be of 5.0% 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 7.0% per annum.

Article 2. This Decision shall be effective from 10 April 2009 and replace the Decision No. 173/QD-NHNN dated 23 January 2009 on the 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 clearing payment of the State Bank of Vietnam for banks.

Article 3. The Director of the Administrative Department, 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, Board of Directors and General Directors (Directors) of Credit Institutions shall be responsible for the implementation of this Decision.