Decision 1123/QD-NHNN 2023 refinancing interest rate, re-discount interest rate

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Decision No. 1123/QD-NHNN dated June 16, 2023 of the State Bank of Vietnam on the refinancing interest rate, re-discount interest rate, interest rate of overnight lending in inter-bank electronic payment and lending to offset the capital shortage in the clearing of the State Bank of Vietnam for credit institutions, foreign bank branches
Issuing body: State Bank of VietnamEffective date:
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Official number:1123/QD-NHNNSigner:Pham Thanh Ha
Type:DecisionExpiry date:Updating
Issuing date:16/06/2023Effect status:
Known

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Fields:Finance - Banking

SUMMARY

From June 19, the refinancing interest rate is reduced to 4.5%/year

On June 16, 2023, the State Bank of Vietnam promulgates the Decision No. 1123/QD-NHNN on the refinancing interest rate, re-discount interest rate, interest rate of overnight lending in inter-bank electronic payment and lending to offset the capital shortage in the clearing of the State Bank of Vietnam for credit institutions, foreign bank branches. To be specific:

The State Bank of Vietnam adjusts the interest rates as follows:

  • The refinancing interest rate is reduced from 5.0% per annum to 4.5% per annum
  • The re-discount interest rate is reduced from 3.5% per annum to 3.0% per annum
  • The interest rate of overnight lending in inter-bank electronic payment and lending to offset the capital shortage in the clearing of the State Bank of Vietnam for credit institutions, foreign bank branches is reduced from 5.5% per annum to 5.0% per annum

This Decision takes effect on June 19, 2023.

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Effect status: Known

THE STATE BANK OF VIETNAM
 _________

THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
 _______________________

No. 1123/QD-NHNN

Hanoi, June 16, 2023

DECISION

On the refinancing interest rate, re-discount interest rate, interest rate of overnight lending in inter-bank electronic payment and lending to offset the capital shortage in the clearing of the State Bank of Vietnam for credit institutions, foreign bank branches

________

THE GOVERNOR OF THE STATE BANK

 

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

Pursuant to the Government’s Decree No. 102/2022/ND-CP dated December 12, 2022, defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

At the proposal of the Director of the Monetary Policy Department.

DECIDES:

 

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-discount interest rate: 3.0% per annum.

3. The interest rate of overnight lending in inter-bank electronic payment and lending to offset the capital shortage in the clearing of the State Bank of Vietnam for credit institutions, foreign bank branches: 5.0% per annum.

Article 2. The Decision takes effect on June 19, 2023 and replaces the Decision No. 950/QD-NHNN dated May 23, 2023 of the Governor of the State Bank of Vietnam on the refinancing interest rate, re-discount interest rate, interest rate of overnight lending in inter-bank electronic payment and lending to offset the capital shortage in the clearing of the State Bank of Vietnam for credit institutions, foreign bank branches.

Article 3. Chief of Office, Director of the Monetary Policy Department and heads of units of the State Bank of Vietnam, credit institutions, foreign bank branches shall be responsible for the implementation of this Decision./.
 

 

FOR THE GOVERNOR
THE DEPUTY GOVERNOR



Pham Thanh Ha

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