DECISION

ON REFINANCING INTEREST RATE, REDISCOUNT INTEREST RATE AND INTEREST RATE APPLICABLE TO OVERNIGHT LOAN IN THE INTER-BANK ELECTRONIC PAYMENT AND APPLICABLE TO LOAN FOR MAKING UP CAPITAL DEFICIT IN THE 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 issued in 1997; the Law on the amendment, supplement of several Articles of the Law on the State Bank of Vietnam issued in 2003;
- 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;
- Upon the proposal of the Director of the Monetary Policy Department,

DECIDES:

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

1. Re-financing interest rate to be of 14.0% per annum.

2. Rediscount rate to be of 12.0% per annum.

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Article 2. This Decision shall be effective from 21 October 2008 and replace the Decision No. 1316/QD-NHNN dated 10 June 2008 of the Governor of the State Bank of Vietnam on the refinancing interest rate and rediscount interest rate and the Decision No. 1849/QD-NHNN dated 19 August 2008 on interest rate applicable to overnight loan in the inter-bank electronic payment and applicable to loan for making up capital deficit in clearing payment of the State Bank of Vietnam for banks

Article 3. The Director of the Administrative Department, the Director of the Monetary Policy Department and Heads of units of the State Bank, General Managers of the State Bank branches in provinces, cities under the central Governments management, Board of Directors and General Directors (Directors) of Credit Institutions shall be responsible for the implementation of this Decision.

FOR THE GOVERNOR OF THE STATE BANK OF VIETNAM
DEPUTY GOVERNOR




Tran Minh Tuan