Decision No. 918/QD-NHNN 2020 refinancing interest rate in inter-bank electronic payment

DECISION

On the refinancing interest rate, re - discounting 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

______________

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

1. The refinancing interest rate: 4,5% per annum.

2. The re-discounting interest rate: 3,0% per annum.

3. The refinancing interest rate, re - discounting 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: 5,5% per annum.

Article 2.This Decision takes effect on May 13, 2020 and replaces the Decision No. 418/QD-NHNN dated March 16, 2020 of the Governor of the State Bank of Vietnam on the refinancing interest rate, rediscount 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.Director of the State Bank’s Office, Director of Monetary Policy Department, Heads of units of the State Bank of Vietnam, General Managers of State Bank s branches in provinces, cities under the Central Government’s management; Chairman of Board of Directors, Board of Members and General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.

For the Governor of the State Bank of Vietnam

The Deputy Governor

Nguyen Thi Hong