Decision No. 929/QD-NHNN dated April 29, 2011 of the State Bank of Vietnam on refinancing interest rate, rediscount interest rate, interest rate applicable to overnight loan in the inter-bank electronic payment and applicable to the loan for making up capital deficiency in clearing payment of State Bank of Vietnam for banks

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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:	929/QD-NHNN	Signer:	Nguyen Dong Tien
Type:	Decision	Expiry date:	Updating
Issuing date:	29/04/2011	Effect status:	Known Please log in to a subscriber account to use this function. Don’t have an account? Register here
Fields:	Finance - Banking

SUMMARY

REFINANCING INTEREST RATE INCREASES TO 14%

On April 29, 2011 , the Governor of the State Bank of Vietnam issued the Decision No.929/QD-NHNN on refinancing interest rate, rediscount interest rate, interest rate applicable to overnight loan in the inter-bank electronic payment and applicable to the loan for making up capital deficiency in clearing payment of State Bank of Vietnam for banks.

Accordingly, re-financing interest rate to be of 14.0%/annum; rediscount interest rate to be of 13.0%/annum; interest rate applicable to overnight loan in the inter-bank electronic payment and applicable to the loan for making up capital deficiency in clearing payment of State Bank of Vietnam for banks to be of 14.0% per annum; so all the interest rate levels increase 1% compared to the previous regulation.

This Decision shall be effective from 01 May 2011; Decision No. 692/QD-NHNN dated 31 March 2011 and provisions on the rediscount interest rate at the Decision No. 379/QD-NHNN dated 08 March 2011 shall expire.

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STATE BANK OF VIETNAM

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No. 929/QD-NHNN

SOCIALIST REPUBLIC OF VIETNAM

Independence- Freedom – Happiness

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Hanoi, 29 April 2011

DECISION

ON REFINANCING INTEREST RATE, REDISCOUNT INTEREST RATE, INTEREST RATE APPLICABLE TO OVERNIGHT LOAN IN THE INTER-BANK ELECTRONIC PAYMENT AND APPLICABLE TO THE LOAN FOR MAKING UP CAPITAL DEFICIENCY IN 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 dated 16 June 2010;

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;

In response to the Resolution No.11/NQ-CP dated 24 February 2011 of the Government on the key solutions for focusing on inflation restraint, macro-economic stability and ensuring social security;

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

DECIDES:

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

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