Decision 1849/QD-NHNN 2008 on overnight lending rates in interbank electronic payments and loans to cover capital shortfalls in clearing by the State Bank of Vietnam for banks The Governor of the State Bank of Vietnam issued

DECISION

ON INTEREST RATE APPLICABLE TO OVERNIGHT LOAN IN THE INTER-BANK ELECTRONIC PAYMENT AND APPLICABLE TO THE LOAN FOR MAKING UP CAPITAL DEFICIT IN CLEARING PAYMENT OF THE STATE BANK OF VIETNAM FOR BANKS

THE GOVERNOR OF THE STATE BANK

- Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated 12 December 1997; the Law on amendment, supplement of several articles of the Law on the State Bank of Vietnam No. 10/2003/QH11 dated 17 June 2004;
- Pursuant to the Decree No. 52/2003/ND-CP dated 19 May 2003 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 rate applicable to the overnight loan in the inter-bank electronic payment and applicable to the loan for making up capital deficit in clearing payment of State Bank of Vietnam for bank to be of 0.0417% per day (15% per annum)

Article 2. This Decision shall be effective from 19 August 2008. The interest rate applicable to the overnight loan in the inter-bank electronic payment and clearing payment as stipulated in the Decision No. 1429/2002/QD-NHNN dated 26 December 2002 of the Governor of the State Bank on the announcement of interest rate applicable to the overnight loan in the inter-bank electronic payment and clearing payment shall cease its effectiveness.

Article 3. Director of Administrative Department, Director of Monetary Policy Department and Heads of related units of the State Bank of Vietnam, Managers of 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.

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