Decision No. 918/QD-NHNN dated May 12, 2020 on refinancing interest rate, re-discount interest rate, interest rate on overnight loans in interbank electronic payment and loans for making up fund deficits in clearing payment given to banks by the State Bank of Vietnam

DECISION

REFINANCING INTEREST RATE, RE-DISCOUNT INTEREST RATE, INTEREST RATE ON OVERNIGHT LOANS IN INTERBANK ELECTRONIC PAYMENT AND LOANS FOR MAKING UP FUND DEFICITS IN CLEARING PAYMENT GIVEN TO BANKS BY THE STATE BANK OF VIETNAM 

THE GOVERNOR OF THE STATE BANK OF VIETNAM

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

- Pursuant to the Government’s Decree No. 16/2017/ND-CP dated February 17, 2017 defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

- At the request of the Director of the Monetary Policy Department;

HEREBY DECIDES

Article 1. The following interest rates are adopted by the State Bank of Vietnam, including:

1. Refinancing interest rate:  4.5%/year.

2. Re-discount interest rate: 3.0%/year.

3. Interest rate on overnight loans in interbank electronic payment and loans for making up fund deficits in clearing payment given to banks by the state bank of Vietnam: 5.5%/year.

Article 2. This Decision comes into force from May 13, 2020 and supersedes the Decision No. 418/QD-NHNN dated March 16, 2020 by of the Governor of the State Bank of Vietnam on refinancing interest rate, re-discount interest rate, interest rate on overnight loans in interbank electronic payment and loans for making up fund deficits in clearing payment given to banks by the State Bank of Vietnam. 

Article 3. Chief of the Ministry’s Office, the Director of the Monetary Policy Department, Heads of units affiliated to the State Bank of Vietnam, Directors of branches of the State Bank of Vietnam in provinces and central-affiliated cities, Chairpersons of the Boards of Directors, Chairpersons of the Boards of Members and General Directors (Directors) of credit institutions and foreign bank branches shall implement this Decision./.