DECISION

ON THE INTEREST RATE OF FOREIGN CURRENCY DEMAND DEPOSITS OF CREDIT INSTITUTIONS, THE STATE TREASURY AT THE STATE BANK

THE GOVERNOR OF THE STATE BANK

Pursuant to the Law on the State Bank of Vietnam and the Law on the Credit Institutions dated 12 December, 1997;
Pursuant to the Decree No. 15/CP dated 2 March, 1993 of the Government on the assignment, authority and responsibility for the State management of the ministries, ministry-level agencies;
Based on the direction of the Government stated in the Dispatch No. 03/VPCP-KTTH dated 15 January, 2001 on the operation of the base interest rate in Vietnam Dong;
Upon the proposal of the Director of the Monetary Policy Department,

DECIDES

Article 1. To announce the interest rate of US$ demand deposit of credit institutions, State Treasury at the State Bank, to be 1.7% per annum.

Article 2. This Decision shall be effective from 1 December, 2001 and replace the Decision No. 406/1998/QD-NHNN1 dated 30 November, 1998 of the Governor of the State Bank on the announcement of the interest rate of foreign currency deposits of credit institutions, the State Treasury at the State Bank.

Article 3. The Director of the Administration Department, the Director of the Banking Operation Department, the Director of the Monetary Policy Department, the Director of the Accounting and Finance Department and Heads of units of the State Bank of Vietnam, General Managers of the State Bank Branches in provinces and cities, Chairpersons and General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.

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FOR THE GOVERNOR OF THE STATE BANK OF VIETNAM
DEPUTY GOVERNOR




Duong Thu Huong