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

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

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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./.