DECISION

ON THE ADJUSTMENT OF THE MAXIMUM INTEREST RATE OF US$ DEPOSITS OF LEGAL ENTITIES AT CREDIT INSTITUTIONS

THE GOVERNOR OF THE STATE BANK

Pursuant to the Law on the State Bank of Vietnam and the Law on Credit Institutions dated 12 December, 1997;
Pursuant to the Decree No. 15/CP of the Government dated 2 March, 1993 on the assignment, authority and responsibility for the State management of Ministries, ministerial-level agencies;

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

DECIDES

Article 1. The interest rate of US$ deposits of legal entities at credit institutions shall be as follows:

- The maximum interest rate for demand deposits: 0.10% /annum;

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- The maximum interest rate for deposits with terms of more than 6 months:1.00%/annum.

Legal entities mentioned in this Article shall include: economic organizations, except for credit institutions; State agencies; arm force units; political organization; socio-political organizations; social organizations; socio-professional organizations; social Funds; charity Funds; other organizations which satisfy conditions provided for in Article 94 of the Civil Code; foreign legal entities operating in Vietnam.

Article 2. The maximum interest rates of US$ deposits of legal entities at credit institutions provided for in this Decision shall be effective since 01 January, 2002.

Previous provisions on the maximum interest rate of US$ deposits of legal entities at credit institutions in contrary to the provision of this Decision shall cease their effectiveness.

Article 3. Heads of units of the State Bank, General Managers of State Bank branches in provinces and cities; Chairpersons and General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.

FOR THE GOVERNOR OF THE STATE BANK
DEPUTY GOVERNOR





Duong Thu Huong