DECISION

ON THE ADJUSTMENT OF THE MAXIMUM RATES OF US$ DEPOSITS OF LEGAL ENTITIES AT CREDIT INSTITUTIONS

THE GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam and 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 State management of ministries and ministerial-level agencies;
Upon the proposal of the Director of the Monetary Policy Department,

DECIDES

Article 1. The rates of US$ deposits of legal entities at credit institutions shall be as follows:

- Demand deposits: the maximum rate is 0.1%/annum

- Term deposits up to 6 months: the maximum rate is 1.5%/annum

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Legal entities mentioned in the Article 1 shall include: economic organizations, insurance Companies (except for credit institutions); State Agencies; arm-forces units; political organizations; social-political organizations, social organizations; social professional organizations; social funds, charities and other organizations which meet conditions stipulated in Article 94 of the Civil Code.

Article 2. The rates of US$ deposits of legal entities at credit institutions stipulated in this Decision shall be effective from 1 April, 2001. All previous provisions on the rates of US$ deposits of legal entities at credit institutions which are contrary to this Decision shall be repealed.

Article 3. Head of units in the State Bank Head-office, General Manager of State Bank branches in provinces, cities, Chairman of the Board of Directors and General Directors (Directors) of credit institutions and customers shall be responsible for the implementation of this Decision.

THE GOVERNOR OF THE STATE BANK




Le Duc Thuy