DECISION

ON THE INTEREST RATE APPLICABLE TO REQUIRED BILL OF THE STATE BANK

THE GOVERNOR OF THE STATE BANK

- Pursuant to the Law on the State Bank of Vietnam issued in 1997 and 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 26/8/2008 of the Government providing for the functions, duties, authorities and organizational structure of the State Bank of Vietnam;
- Pursuant to the Decision No. 362/1999/QD-NHNN1 dated 8 October 1999 on the issuance of the Regulation on issuance of State Bank bills;
Upon the proposal of the Director of Monetary Policy Department,

DECIDES:

Article 1. To announce the increase interest rate applicable to State Bank bill in Vietnam Dong required to be issued on 17 March 2008 to be of 4.5% per annum.

Article 2. Responsibilities of units of the State Bank:

1. Banking Operation Department of State Bank: to provide guidance on the decrease of interest rate applicable to State Bank bill in Vietnam Dong required to be issued in accordance with provisions in this Decision and other related documents to credit institutions.

2. Finance- Accounting Department: to provide guidance on the accounting of decreased interests of State Bank bills required to be issued on 17 March 2008.

Article 3. This Decision shall be effective from 22 December 2008 and replace the Decision No. 1435/QD-NHNN dated 26 June 2008 of the Governor of the State Bank on interest rate applicable to required bills of the State Bank.

Article 4. The Director of Administrative Department, Director of Monetary Policy Department, Head of units of the State Bank of Vietnam, General Managers of State Bank branches in provinces, cities under the central Government's management, Board of Directors and General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.