DECISION

ON THE ADJUSTMENT OF THE DISCOUNT INTEREST RATE AND REFINANCING INTEREST RATE OF THE STATE BANK OF VIETNAM FOR CREDIT INSTITUTIONS BEING BANKS

THE GOVERNOR OF THE STATE BANK

- Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated 12 December 1997 and the Law on the amendment, supplement of several Articles of the Law on the State Bank of Vietnam No. 10/2003/QH11 dated 17 June 2003;
- Pursuant to the Law on Credit Institutions No. 02/1997/QH10 dated 12 December 1997 and the Law on the amendment, supplement of several Articles of the Law on Credit Institutions No. 20/2004/QH11 dated 15 June 2004;
- Pursuant to the Decree No. 86/2002/ND-CP dated 05 November 2002 of the Government providing for the functions, assignments, authorities and organizational structure of the ministries and ministerial-level agencies;
- Upon the proposal of the Director of the Monetary Policy Department,

DECIDES:

Article 1. To adjust the interest rates of the State Bank of Vietnam for credit institutions being banks as follows:

1. Refinancing interest rate shall be 5.5% per annum

2. Discount interest rate shall be 3.5% per annum

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Article 3. The Heads of units of the State Bank of Vietnam, General Managers of the State Bank branches in provinces, cities under the central Governments management, the Board of Directors and General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.

THE GOVERNOR OF THE STATE BANK




Le Duc Thuy